Abstract
Money laundering through crypto-asset trading has been a growing concern, due to the anonymous and borderless nature of the crypto-market. Attempting to connect Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) laws with crypto-assets and related services in the European market, in May 2023, the EU Regulation on Markets in Crypto-assets (the MiCA Regulation) was enacted. It aims to regulate crypto-asset trading, support innovation and investor protection in the crypto-industry, while firmly establishing European AML/CFT laws in the crypto-market and its main stakeholders, the Crypto-Asset Service Providers (CASPs). Meanwhile, the 2024 reformed EU AML/CFT legislative package explicitly refers to the crypto-market. However, various fundamental issues may potentially limit its effectiveness, playing an adverse role in the AML/CFT landscape. The exclusion of specific services and crypto-asset elements from the MiCA Regulation scope, combined with the absence of adequate global AML/CFT collaboration mechanisms open the path for money laundering activities.
| Original language | English |
|---|---|
| Journal | Law and Financial Markets Review |
| DOIs | |
| Publication status | E-pub ahead of print - Feb 2026 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 10 Reduced Inequalities -
SDG 17 Partnerships for the Goals
Keywords
- Money laundering
- AML/CFT
- crypto-assets
- cryptocurrency
- CASPs
- MiCA Regulation
- financial regulation
- VASPs
- EU
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