The European Commission proposed a package of laws this week to combat money laundering and financial crime, including a move to expand money-laundering rules to cryptocurrency. Bringing anti-money-laundering (AML) rules into the digital currency domain is often mentioned as a key component of mitigating ransomware.

Regulations in the European Union and elsewhere involve what’s known as the travel rule, an ability to trace the chain of electronic transfers of money. But the current rules only apply to “banknotes and coins, scriptural money and electronic money.” The new regulations would expand that to cryptocurrency and prevent the use of anonymous wallets.

Read more by clicking the button below.