DeFi and NFTs will be regulate by the EU Commission to combat money laundering.
The new law will force NFT, DeFi and DAO platforms to comply with “direct or indirect” controls performed by new “natural and legal persons”.
If the regulation were to pass officially, credit institutions will have to apply new measures for transactions exceeding 1,000 euros, prohibiting business relationships with unauthorized entities. The restrictions would affect commercial payments in crypto, with new rules to be imposed on merchants who accept these services.
The crypto industry is concerned that the new law could hamper the innovation process.
SOURCE: The Crypto Gateway
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Chiara Chiommino is a graduating student in science of communication with work’s experience in social media marketing and web marketing as Brand Manager for Italian Cigar Group SRL. She took part in an internship experience entitled "Il Metaverso" in Italy.
