Czech Republic is set to redefine its regulations for Crypto Exchanges
Czech Republic plans to set tough AML regulations for Crypto-Exchanges

Not so long ago, EU introduced 5 AMLD to strengthen its anti-money laundering rules and verify crypto transactions. Now, as per the local newspaper – Hospodářské Noviny, Czech Republic is on the verge of exceeding EU’s directive on cryptocurrency firms.

According to Hospodářské Noviny, Czech Republic is on a track to beat EU’s 5AMLD in terms of setting up a legal framework focused on the use of anonymous payments on the crypto trading platform. The local newspaper further mentioned that all crypto trading platforms in the Czech Republic are mandated to register their company with the National Trade License or face the penalty of a fine worth 500,000 CZK. However, the deadline has not been declared yet.

The report also claims that the new measures might affect the companies which are not related to crypto.

Source – Coinfomania