Nine European cities have vied for the seat of the new EU authority. Frankfurt, Rome, Vienna, Vilnius, Riga, Dublin, Madrid, Brussels and Paris also applied.
The Amla is intended to combat money laundering and terrorist financing in the EU. It will directly supervise credit and financial institutions that operate across borders and are considered high risk, including providers of crypto asset services. The authority is scheduled to begin operations in mid-2025 and will have more than 400 employees.