Report: Cryptocurrency businesses must register with Czech regulator or face $560K fine
Cryptocurrency companies operating in the Czech Republic will reportedly be subject to greater control by the government, a local newspaper says. According to Hospodářské Noviny, the country’s adoption of the European Union‘s (EU) 5th Anti-Money Laundering Directive (5AMLD) will establish additional requirements on cryptocurrency firms than those established in Brussels. As part of their plans, the paper says Czech regulators want to impose a maximum fine of approximately $560,000 (500,000€) on cryptocurrency businesses which fail to register with the country’s Trade Licensing Office. 5AMLD, which came into force last Summer, brought the EU in line with cryptocurrency-related measures already introduced in the US several…
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