In line with a recent news article by Estonian Native newspaper, a replacementversion of the AML [Anti Money Laundering] and TerroristFinancingPrevention Act came into forcewithin this weekinEstonia,under thelegislation to the EU’salleged[FourthMoney Laundering Prevention Directive].
The regulation introducedin the weekreportedly introduces “ digital currency exchange servicesuppliers” and “virtual currency payment service providers,”whereasbefore theresolelywas “alternativemeansof payment servicesupplier.”
Still, the FI [FinancialmanagementAuthority] has sinceproclaimedthat crypto-currencies along with the corporationsgivingcrypto-related services introduceconcealing [Money Laundering]risks,thatis reportedlythe explanationfor the new amendments,in line withÄripäev.
As previously reported,Estoniahas rolled back its plans tolaunchEstcoin, a national digital currency,when the President ofthe EUfinancial organization [Central Bank]Mario Draghi criticized the initiative.
Canadais additionallytryingtowardsa lot moreregulationto forestallcrypto-currencies fromgetting usedformoney laundering,because theCanadian House Financecommissionsuggestedthroughoutits review of thetakingsof CrimeMoney Laundering along with the PCMLTFA [TerroristFinancingAct] inthe mid of Nov. this year.