Morgan Lewis partner Chris Warren-Smith was interviewed by Law360 for an article about the European Union’s Fifth Anti-Money Laundering Directive and the implications for UK businesses that handle cryptoassets.
Chris noted that for large organizations the provisions are not new, stating, “The big crypto-exchanges and the big financial institutions are already all over this. It's the medium- to small-sized organizations who aren't necessarily across this yet for which it will likely be the biggest change.”