come on
THE EUROPEAN COMMISSION APPROVED THE BAN ON ANONYMOUS CRYPTO CURRENCY TRADING.
European Commission approves ban on anonymous cryptocurrency trading
Most of the European Parliament's main committees have approved a ban on cryptocurrency transactions of any value through custodial crypto wallets, Cointelegraph reported. This comes after the European Council and Parliament tentatively agreed to extend some EU anti-money laundering (AML) and counter-terrorism financing laws to cover the cryptocurrency market.
According to an article by Patrick Breyer, a member of the German Pirate Party of the European Parliament, on March 19 "most of the main committees of the EU Parliament" approved the new money laundering law.
Breyer was one of two members who voted against banning anonymous crypto payments. Gunnar Beck of the Alternative for Germany party also voted against. This prohibition specifically applies to custody or custodial crypto wallets provided by third-party service providers such as centralized exchanges.
New anti-money laundering regulations impose certain restrictions on cash transactions and anonymous cryptocurrency payments. According to the new regulations, anonymous cash payments over 3,000 Euros will be banned in commercial transactions, while cash payments over 10,000 Euros will be completely banned in commercial transactions.
The new regulations are expected to come into full force within three years of entry into force. However, Ireland-based law firm Dillon Eustace expects the regulations to come into full force sooner.
QUOTATION.
