According to ChainCatcher, the European Parliament voted to pass a new set of laws to tighten money laundering and terrorist financing measures across the European Union. These laws target large cash payments, cryptocurrency companies, and football clubs, among others. In addition to establishing a single rulebook for the 27 EU countries, the package approved on Thursday also established an anti-money laundering agency based in Frankfurt to oversee the implementation of relevant frameworks, especially those that the EU considers to be the most important. The new laws include strengthening due diligence measures and checks on customer identities, after which so-called obligated entities (such as banks, asset and crypto asset managers or real estate and virtual real estate agents) must report suspicious activities to the Financial Intelligence Unit and other competent authorities.