The rule proposes to improve client identity verification and due diligence procedures. Financial Intelligence Units (FIUs) or other appropriate authorities must receive reports of any suspicious activity from obligated entities, such as banks or bitcoin asset managers. There has been more research done on the bitcoin sector.

This legislation has given FIUs more authority to investigate, identify, and stop questionable transactions in addition to analyzing and detecting money laundering and terrorism financing.

These new regulations will be overseen by the Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA), which will be founded in Frankfurt. As a single point for supervisors, the AMLA would oversee the "riskiest" financial companies and settle disagreements between them. It will also step in when supervisory failures occur.Additionally, AMLA will oversee the application of certain financial sanctions.

The sixth AML directive, the EU "single rulebook" regulation, and the AMLA regulation make up the bundle of laws.

These legislation would also grant "immediate, unfiltered, direct and free access" to beneficial ownership information to those who have a "legitimate interest," which includes civil organizations, journalists, competent authorities, and supervisory bodies. These are records that date back at least five years and are connected at the EU level, stored in national registers.

Additionally, this legislation includes measures to ensure compliance with targeted financial sanctions and prevent sanctions from being circumvented, as well as enhanced vigilance provisions for ultra-rich individuals (total wealth worth at least €50,000,000, excluding their main residence) and a cash payment limit of EUR 10,000 across the EU, excluding private individuals in non-professional contexts.

For high-value transactions starting in 2029, elite football teams will also need to confirm the identity of their clients, keep an eye on their transactions, and report any suspicious activity to FBI units.

"The EU's latest AMLR regulations are a welcome response to the advantages that technology is gifting criminals," stated Ilya Brovin, chief growth officer at Sumsub. It should be praised since it brings the safe and open cryptocurrency sector one step closer to what we all desire."