By John Smith • Published: 26 Jun 2020 • 10:46
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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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Currently he is acting as Editorial Consultant for the paper helping to shape its future development. Share your story with us by emailing newsdesk@euroweeklynews.com, by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews
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