Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
OR
Please fill out the required fields Please fill out the required fields Please fill out the required fields
Get Into Cryptocurrency Trading Today
In taking a direction with its cryptocurrency regulations, the Czech Republic looks to be going on the side of caution with stricter regulations than are prescribed from the European Union. The European bloc has an Anti-Money-Laundering (AML) regulatory regime that is well established, but the Czechs will be upping this.
According to a report from local newspaper HospodáÅské Noviny, the way in which the Czech Republic will implement European Union (EU)’s Fifth AML Directive (AMLD5) will be stricter than expected.
The importance of effective AML laws are paramount to governments and regulators, and it appears that the Czechs hope to be at the forefront of this aspect of cryptocurrency regulations. In doing so it could also send a message to those trying to use crypto for nefarious reasons that they will be heavily punished if caught.
According to the local report, the regulators are looking at making the fines for cryptocurrency firms that fail to register their operations with the national Trade Licensing Office as much as half a million Euros.
In regards to the European Fifth Anti-Money Laundering Directive, which came into force in July 2018, this goes above and beyond what is required from its members in policing money laundering.
What is interesting with this EU directive is that its scope was extended to include exchanges as well as wallets within the cryptocurrency space. The concern was that many were affecting anonymous payment through these cryptocurrency services and thus the Directive called for greater transparency from the exchanges, and thus put pressure on them to up their AML and KYC (Know Your Customer).
In recent months there has been an increase in the application of crypto-specific regulations across the world. The EU has started setting up its own framework for its member nations to build upon, and as the Czech example shows, some are more zealous than others.
This is not the first time a European nation has taken the baton and run with it in terms of applying stricter than necessary regulations. Cyprus, in February, proposed to bring several additional areas of crypto-related activity under their own regulations, which are notably not included in the provisions of AMLD5.
Further abroad, the US is also in the throws of deciding how strict or relaxed they will be when it comes to regulating the blockchain and cryptocurrency space with many concerned this could be a tipping point.
With a number of hearings taking place in the Senate based around cryptocurrencies, especially after the launch of Libra, it looks as if the regulators in the US are mulling over the advantages against the financial risks of these decentralized assets.
Cryptocurrency voices, such as Ripple’s Brad Garlinghouse, have come out and asked for the Senate not to lump all cryptocurrency projects in the same boat and to view them on their merit for the space, as well as for the advancement of the US.
Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
ALL
Trending
WATCHLIST
Total Market Cap The Total Market Capitalization (Market Cap) is an indicator that measures the size of all the cryptocurrencies.It’s the total market value of all the cryptocurrencies' circulating supply: so it’s the total value of all the coins that have been mined.
{[{ marketcap }]} {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H) {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H)
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting all the data from several exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current price and the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting allthe data fromseveral exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current priceand the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
DDB Miner Expands Cloud Mining Solutions, Offering Users a Path to Financial Freedom
3 days ago | Kim Sorgson
Ripple vs. SEC: Can XRP Finally Break Free?
6 days ago | Karrie Tan
The Dark Side of Meme Coins: What You Need to Know Before Investing
6 days ago | Laura Williams
Criminals’ New Cryptocurrency of Choice: Tether
6 days ago | John Smith
Tezos (XTZ) Review 2024: Everything You Need to Know Before Buying Tezos
.article-container { font-family: Arial, sans-serif; line-height: 1.6; color: #333; backgrou...
Chromia (CHR) Review 2024: Everything You Need to Know Before Buying Chromia
Illuvium (ILV) Review 2024: Everything You Need to Know Before Buying Illuvium
My Neighbor Alice (ALICE) Review 2024: Everything You Need to Know Before Buying My Neighbor Alice
Star Atlas (ATLAS) Review 2024: Everything You Need to Know Before Buying Star Atlas
OQtima
Oqtima is an emerging online trading platform that offers a wide range of financial instruments, inc...
Saxo
Saxo Bank is a leading global online broker offering a wide range of financial instruments, includin...
FXCC
.article-container { font-family: Arial, sans-serif; line-height: 1.6; color: #333; background-c...
Quadcode Markets
Quadcode Markets is an online brokerage offering a wide range of financial instruments, including fo...
Trading 212
Trading 212 is a popular online broker offering a range of financial products including stocks, ETFs...
(adsbygoogle = window.adsbygoogle || []).push({}); Introduction In t...
(adsbygoogle = window.adsbygoogle || []).push({}); Einführung Wenn es um Er...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
Czech Republic Gets Tougher on Crypto Than Europe
In taking a direction with its cryptocurrency regulations, the Czech Republic looks to be going...
Etoro Aiming to Global Expansion
The novelty of cryptocurrencies can be both an advantage and a disadvantage for those trying to...
Robo-Advisors vs. Human Advisors: Are We Witnessing the End of Traditional Financial Advice?
.article-container...
6 Best Cryptocurrencies to Invest In 2022
In the past few years, the cryptocurrency craze has been quite a sensation; their adoption has...
What Is The Monero (XMR) Cryptocurrency?
Monero is a cryptocurrency (XMR) and blockchain. It was created in April 2014: meaning that XMR...
(adsbygoogle = window.adsbygoogle || []).push({}); Introduction In t...
(adsbygoogle = window.adsbygoogle || []).push({}); Einführung Wenn es um Er...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
COMMENTS (0)