Anti-Financial Crime & Financial Crime Compliance
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Crypto, Financial Crime, Tech

ANALYSIS: EU’s MiCA passporting could undermine financial crime detection in large countries

A representation of virtual currency bitcoin is seen in front of a stock graph in this illustration taken November 19, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

By CARLO BOFFA, EU Correspondent PASSPORTING rights under the EU’s MiCA regulation are threatening to deprive financial intelligence units in larger countries of vital information to fight financial crime, as crypto firms have moved their base to smaller countries. Under the regulation, digital asset providers can establish a legal entity in one EU country, through…

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