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***Are Non-Custodial Crypto Wallets Really Banned In The EU? **THE news is that EU Bans Anonymous Crypto Payments Over €3,000 Using Self-custody WalletsBut what does this mean for Crypto Users in the EU and when will this Law come into effect*** EU’s New Anti-Money Laundering Legislation Explained : The European Union Parliament has banned unidentified self-custody crypto wallets for transactions within the region as part of its broader anti-money laundering efforts. Dissenting voices have argued that the ban may disproportionately affect law-abiding citizens and hinder financial privacy. However the EU is not backing down so when will this Law come into effect ? A recent social media post by Patrick Breyer, an EU Parliament member, revealed that the ban received approval from most of the parliament’s leadership committee on March 19. This move is part of the EU’s broader anti-money laundering (AML) legislation. The new regulations ban all anonymous crypto payments and cash transactions above certain limits. Specifically, they prohibit cash payments exceeding €10,000 or anonymous cash transactions beyond €3,000. The ban also targets self-custody wallets on mobile, desktop, or browser applications. Although the law is slated to take effect in three years, there are suggestions that its implementation might be sooner. #write2earn #BTC🔥🔥🔥🔥

***Are Non-Custodial Crypto Wallets Really Banned In The EU? **THE news is that EU Bans Anonymous Crypto Payments Over €3,000 Using Self-custody WalletsBut what does this mean for Crypto Users in the EU and when will this Law come into effect***

EU’s New Anti-Money Laundering Legislation Explained : The European Union Parliament has banned unidentified self-custody crypto wallets for transactions within the region as part of its broader anti-money laundering efforts. Dissenting voices have argued that the ban may disproportionately affect law-abiding citizens and hinder financial privacy. However the EU is not backing down so when will this Law come into effect ?

A recent social media post by Patrick Breyer, an EU Parliament member, revealed that the ban received approval from most of the parliament’s leadership committee on March 19. This move is part of the EU’s broader anti-money laundering (AML) legislation.

The new regulations ban all anonymous crypto payments and cash transactions above certain limits. Specifically, they prohibit cash payments exceeding €10,000 or anonymous cash transactions beyond €3,000. The ban also targets self-custody wallets on mobile, desktop, or browser applications.

Although the law is slated to take effect in three years, there are suggestions that its implementation might be sooner.

#write2earn #BTC🔥🔥🔥🔥

Disclaimer: Includes third-party opinions. No financial advice. See T&Cs.
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Messari CEO Criticizes US President's Crypto Stance, Foresees 'Mass Wealth Confiscation' if Biden Gets Reelected With approximately 187 days remaining until the U.S. presidential election on Tuesday, Nov. 5, 2024, Ryan Selkis, founder and CEO of Messari, a crypto data and analytics platform, has been increasingly outspoken about the event. Prior to establishing Messari, Selkis was involved with Coindesk and its former parent company, Digital Currency Group (DCG). More recently, he has voiced concerns about the Biden administration’s handling of crypto regulation, specifically pointing to Senator Elizabeth Warren‘s influence. Selkis shared his views on the social media platform X last week, stating, “If you can understand that Elizabeth Warren is the President of the U.S. economy [and] financial services regulators thanks to her early endorsement of Biden in 2020; Then you should understand why crypto’s vocal [and] heavy $$$ support for Trump will swing a 2025 GOP admin libertarian.” The comments from the founder of Messari coincide with a period marked by notable regulatory actions by the U.S. government, targeting the crypto industry and non-custodial software. In the past year, various U.S. regulatory and law enforcement bodies have increasingly focused on crypto firms and their leaders. Recently, the U.S. Department of Justice’s (DOJ) dealings with the developers of Tornado Cash and Samourai Wallet have sparked significant discontent within the crypto community. These developments have compelled both Wasabi Wallet and Phoenix Wallet to restrict access for U.S. users. On May 2, Selkis shared a screenshot from an X post revealing a major bitcoin company’s plans to exit the U.S. #BTC #bitcoin #Memecoins
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