EU: Malta Needs to Improve Readiness to Respond to Cryptocurrency Crime

[Goodcat49]

The European Union has told Malta it needs to improve the resources it has to fight potential financial crime as a result of cryptocurrency popularity, local daily news outlet Malta Today reported on June 5.

In a letter to member states advising how to spend EU funds, the European Commission flagged Malta’s burgeoning cryptocurrency sector as a potential weak link in the fight against financial crime.

“The Commission, in its recommendations to member states for the use of EU funds, said that the size of Malta’s financial and gaming sector, and the efforts to attract crypto-currency operators required an effective anti-money laundering enforcement,” Malta Today summarized.

https://cointelegraph.com/news/eu-malta-needs-to-improve-readiness-to-respond-to-cryptocurrency-crime