On 19 April 2018, the European Parliament issued a press release stating that it had adopted the Fifth Anti-Money Laundering Directive (5MLD). The next step is for the 5MLD to be formally adopted by the Council. Following that it enters into force three days after its publication in the Official Journal of the EU. Member States then have 18 months to transpose the Directive into national law.

Among other things the press release mentions that the new measures address risks linked to prepaid cards and virtual currencies. In a bid to end the anonymity associated with virtual currencies, virtual currency exchange platforms and custodian wallet providers will, like banks, have to apply customer due diligence controls, including customer verification requirements. The platforms and providers will also have to be registered, as well currency exchanges and cheque cashing offices, and trust or company services providers.

The European Parliament has also published the adopted text of the 5MLD.