European Union Digital Currency Law to be Policed by Bank of Spain

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Countdown to new cryptocurrency law Credit: Pixabay

FOR some time now, the European Union has been encouraging member states to introduce new laws to comply with the EU anti money laundering directive (5AMLD) and Spain has now confirmed that it will come on board.

This means that once the legislation is in place, digital currency companies will need to register with the Bank of Spain and this makes a huge amount of sense considering that this may well remove the ability to transfer funds secretly by drug cartels and terrorist groups.

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