- The headquarters of the European regulator AMLA with the right to supervise the digital asset industry will be located in Frankfurt.
- The interstate body will combat money laundering and combat the financing of terrorism.
- The agency will have a staff of 400 people and will begin operating in 2025.
The headquarters of the new European Union financial regulator AMLA will be located in Frankfurt, Germany.. The corresponding decision was made by the Council and the Parliament of the EC.
Frankfurt took first place in the vote for headquarters location. Madrid was in second place, and Paris was third.. Brussels, Dublin, Rome, Riga, Vienna and Vilnius also took part in the voting.
The agency will combat money laundering, illegal financial activities and blocking the cash flows of terrorist organizations. In addition, the digital asset industry will be subject to AMLA supervision.
According to available information, the agency's staff will consist of 400 employees. The regulator will begin its activities in 2025.
“AMLA will be a watershed moment in the fight against dirty money in the EU. It will oversee the most risky financial institutions and play a critical role in stopping attempts to circumvent targeted financial sanctions,” the parliament statement said.
European Commissioner for Financial Services Mairead McGuinness noted that the EU is working to reduce risks associated with cash flows. As part of these measures, a restriction was introduced on cash payments, introducing a limit of €10,000.
McGuinness also stated that European authorities are working on potential threats posed by the crypto industry.. In particular, issues of anonymity pose risks to the EU financial system, the commissioner believes.
Let us recall that we wrote that the media learned about the confidentiality guarantees of the digital euro.