New year, new rules: implementation of the 5th Money Laundering Directive
On 14 November 2019, the German legislator passed the implementation law (Umsetzungsgesetz) to transpose the amending directive (Änderungsrichtlinie) to the Fourth EU Anti-Money Laundering Directive 2018/843, which has been the subject of intense debate in recent months and which entered into force on 1 January 2020. The implementation act contains numerous gold plating amendments, particularly in relation to so-called cryptographic values.