Luxembourg classified the Virtual Asset Service Provider (Vasps) as high-risk entities for money laundering at the 2025 National Risk Assessment (NRA), which featured concerns over the crypto industry exposure to financial crime.
According to Report.
The NRA identified the Vasp as an emerging risk in the 2020 report after “a detailed assessment of ML’s natural risks emerging from virtual properties.” This was followed by a 2022 NRA report that considered “the dangers associated with crypto and virtual currency assets that were very high,” because, among other things, they were internet and cross-border.
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The emerging regulation of EU crypto
The EU, where Luxembourg is a founding member, is working to organize the cryptocurrency industry. A major part of this effort is the Crypto-Assets markets (MICA) The framework, designed to unite the crypto regulation in all 27 EU member states.
Since January, crypto asset service providers have begun obtaining licenses to operate legally within the EU. This includes the cryptocurrency exchange Kraken Launching Regulated Derivatives Trading and competitor Crypto.com Neglect of a license It is allowed to do the same, both this month.
MICA also establishes a new set of requirements for stablecoins. The head of the Stablecoin market behind USDT (USDT), Tether, refused to comply with new policies And ay Delisted to crypto.com, Coinbase and Top Binance of Crypto Exchange on their EU platforms.
Related: French prosecutors probe binance over money laundering, frauds on fraud: Report
Money laundering with crypto
As the role of cryptocurrencies increases in the wider financial ecosystems, so is their The fame for money laundering. Earlier this month, Hong Kong police arrested 12 people involved A cross-border money laundering scheme that relies on crypto and more than 500 accounts at the Stooge Bank in the Launder 118 million dollars of Hong Kong ($ 15 million).
According to reports this month, law enforcement in Europe has been arrested 17 suspects of a “Mafia Crypto Bank” For the alleged launch of more than 21 million euros ($ 23.5 million) in crypto for the Middle East and China -based criminals. As a result of the proceedings, the 4.5 million euros ($ 5 million) worth of items were seized, including cash, crypto, 18 vehicles, four shotguns and some electronic devices.
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