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EU Moves to Downgrade Money Laundering Risk in Art Trade
Original: EU Looking to Downgrade Money Laundering Risk in Art and Antiquities Trade
The European Union is considering downgrading the money laundering risk classification for the art and antiquities trade, a shift reported by ARTnews. The move would affect dealers, auction houses and other market participants who currently face stricter due diligence obligations. Observers are weighing what the reclassification would mean for compliance requirements across the bloc's cultural goods market.
Why now: A change in EU risk classification could loosen or tighten compliance rules for the art market, affecting dealers and regulators alike.
European Unionart marketantiquities trade
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