Opinion: Encryption laws across Europe are about to tighten, Malta may be significantly affected

According to The Block, more stringent new AML and KYC laws will sweep across Europe in the next four months, making local crypto exchanges and custodians more consistent with banks. The European Parliament passed AMLD5 in 2018, but it is time for legislators to start implementing it in the country; the deadline is set for January 2020. Although many jurisdictions and exchanges already comply with these rules, this may have a significant impact on so-called “loose” areas such as Malta, which want to raise privacy thresholds. Smaller exchanges also need to invest in catching up with compliance.