The European Parliament has recently passed a comprehensive anti-money laundering legislative package that significantly impacts the cryptocurrency sector. This legislation mandates stricter monitoring of crypto-asset service providers (CASPs), including the elimination of anonymous crypto transactions and hosted wallets. Additionally, the new laws enforce rigorous data collection on user transactions and apply stringent controls on non-custodial wallets. Notably, the legislation also includes a prohibition on anonymous cash payments over €10,000. These measures have sparked considerable debate within the crypto community and among European Parliament members, including Patrick Breyer, who expressed concerns over privacy rights and the implications for the industry.
It's unfortunate that the US government is so tyrannical on financial services. Lots of overseas banks don't even want US customers because of the regulation and bureaucratic headaches. Sadly it looks like the parallel is happening in Bitcoin world too.
🚨 NEW: Another self custody Crypto wallet bites the dust. United States the land of the free entrepreneur! Protect yourself now before it’s too late.🤦♂️ https://t.co/3Gh0vWHN7l
On wednesday EU Parliament adopted new AML laws to regulate financial privacy. Exept they seem to have no data to backup their claims. Latest for @BitcoinMagazine https://t.co/5r2En4dPYl
The Non-Custodial Conflict: US Government Actions Stir #Crypto Community Concerns https://t.co/igktSKiJzt
EU expands AML regulation impacting cryptocurrency compliance https://t.co/nVbn3oPbvH
.@Europarl_EN has approved a broad package of anti-money laundering laws targeting various financial services and entities, including crypto. @iamsandali reports https://t.co/E6ZLr2YWBu
In which the crypto world once again finds out what being part of the EU regulatory framework feels like https://t.co/2x9rKce9Dg
NEW: European Parliament Member, Patrick Breyer, speaks out against the 🇪🇺 EU banning anonymous hosted crypto wallets 😮 https://t.co/aWXmkstzML
WATCH‼️ 🇪🇺 EU bans anonymous hosted crypto wallets and cash payments over €10,000. The War on Privacy continues…! 🤨 https://t.co/yyFsttWhAZ
The EU just voted to ban some of the most prized privacy features of crypto. The industry was not too happy about it. Great reporting by @InbarPreiss for @DLNewsInfo. https://t.co/ML7S1kUDuV
Crypto-asset service providers (CASPs) will now be monitored by the government according to new laws passed by the European Parliament https://t.co/MdYc9Vx11U
EU votes to ban anonymity for crypto and increase monitoring of users. The bill passed by the European Parliament will force crypto firms to collect more data on users and their transactions, enforce stronger monitoring of non-custodial wallets, and ban tools bolstering… https://t.co/4voWAOYHsk
EU's anti-money laundering bill passes final vote, here's what's next for crypto-asset service providers https://t.co/IKKLYfMHgB
EU votes to ban anonymity for crypto and increase monitoring of users https://t.co/HL4o3W7C7R