Europe’s New AML Rules Made Crypto More Attractive to Institutions, Says Boerse Stuttgart Exec

The fifth anti-money laundering directive (AMLD5) has unexpectedly increased institutional interest in cryptocurrencies, according to an executive at the crypto trading subsidiary of Boerse Stuttgart.

Speaking at the CryptoCompare London conference Tuesday, Boerse Stuttgart's chief digital officer, Dr. Ulli Spankowski, admitted he had been "surprised" by the positive effect 5AMLD had on attracting traditional financial institutions into cryptocurrencies.

"I actually didn't think anything would happen because banks and other financial institutions could already do crypto custody [and] could do crypto trading," Spankowski said. But since the law came into force earlier this year, "we now see a lot of interest from the traditional players as well." Read More...

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