Wopke Hoekstra Calls for New AML Directives Including Crypto

Wilfred Michael 

Wilfred Michael

News reporter

01 July 2019,
Wopke Hoekstra Calls for New AML Directives Including Crypto

With estimates showing that at least 16 Billion Euros is laundered in the Netherlands, Finance Minister, Wopke Hoekstra has suggested the adoption of new measures to combat the growing menace.

A local news agency, NLTimes, revealed today that ‘regulating cryptocurrencies’ was one of the new measures listed in a submission to the Dutch parliament on Monday by Wopke and Ferdinand Grapperhaus, Dutch Minister of Justice and Security.

Although the report does not pinpoint the exact ways that Ministers wants the country to regulate cryptocurrencies, we reported back in December that the state wants players in the crypto industry to adopt Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) laws that form part of the EU banking regulations.

Wopke also spoke extensively in the report regarding coordinated efforts of Dutch authorities tackle money-laundering, especially proceeds from drug crimes, and fraud carried out abroad.

"The government, regulators, the Financial Intelligence Unit (FIU), the Public Prosecution Service, FIOD, the financial sector, and accountants are therefore now joining forces to ensure that criminals cannot get a foothold in our financial system," Wopke reportedly said.

He further noted that the goal for the Netherlands is to through a collaborative effort become one of the international leaders in tackling money laundering.

Meanwhile, the latest call by the Dutch Finance Minister comes on the same day that Stmarket.co reported G20 member nations, approved newly proposed crypto rules by the Financial Action Task Force (FATF).

The Netherlands is also among a group of tax regulators investigating crypto tax evasion cases.


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