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Recent years have seen virtual asset service providers in Europe incur penalties for anti-money laundering violations infrequently at most, but a raft of enforcement actions last year suggests that the regulatory landscape has become considerably more perilous for them. Overall, 2023 does not rank highly in the annals of enforcement in Europe, where regulators imposed only €190 million in fines against around 200 banks and other financial institutions for breaching AML requirements in the 23 jurisdictions for which moneylaundering.com obtained statistics, after imposing roughly 160 fines for €270 million in 2022. The narrative read differently for VASPs in Europe, where...