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In addition to Vienna and Frankfurt, Paris, Madrid, Rome, Brussels, Riga, Vilnius and Dublin were also in the running. It is the first time that the EU Parliament was able to have a say in the selection of the headquarters of an EU agency after the European Court of Justice granted the Parliament this right. It was agreed that both the European Parliament and the Council of EU states each had 27 votes, which they could distribute among the nine candidates. However, the EU countries agreed to agree on a location in a multi-stage voting process and thus award their 27 votes to a city.
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The new agency was created as part of the EU’s anti-money laundering package and is also intended to tackle terrorist financing. It will directly supervise up to 40 cross-border financial institutions (including crypto service providers) that are identified as having a high risk of money laundering. For the remaining financial companies, supervision remains with the national authorities. In the non-banking sector, the AMLA should also be able to support the national authorities.
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