EU to propose new anti-money laundering authority, documents say
LONDON, July 7 (Reuters) - The European Union will propose a new authority to crack down on money laundering and new transparency requirements for transfers of crypto-assets, EU documents showed on Wednesday.
"By directly supervising and taking decisions towards some of the riskiest cross-border financial sector obliged entities, the Authority will contribute directly to preventing incidents of money laundering/terrorist financing in the Union," the documents seen by Reuters said.
A separate proposal would introduce new EU requirements for service providers in crypto-assets to collect and make accessible data concerning the originators and beneficiaries of transfers in those assets.
(Reporting by Huw Jones; Editing by Giles Elgood)
