Regulators across the world have struggled with putting cryptocurrencies within a certain legislative framework. The European Union is on its way to put in effect an updated legislation version called the 5th Anti-Money Laundering Directive.

Among the most notable changes are those which would require cryptocurrency service providers to conduct Know-York-Customer (KYC) checks on their own. Furthermore, all transactions will be monitored, and companies will have to file suspicious activity reports (SARs) with law enforcement.