NO BAN ON ANONYMOUS CRYPTO WALLETS IN EU, EXPERT CONFIRMS.

In an effort to shed light on the recent rumours surrounding the European Union's (EU) position on #cryptocurrency anonymity, industry expert Patrick Hansen has spoken out. Hansen highlights that the #EU's Anti Money Laundering Regulation (AMLR) offers a comprehensive framework intended to combat money laundering and terrorism financing, rather than especially targeting cryptocurrencies. This framework encompasses a number of industries, such as non-financial organisations vulnerable to AML/CFT violations and crypto-asset service providers (CASPs).

Despite rumours to the contrary, the #AMLR includes provisions that allow for the use of anonymous cryptocurrency wallets and transactions. Interestingly, non-custodial wallet providers are free from the regulations' obligations. This distinction is essential to understanding the regulatory framework of the European Union because non-custodial wallets let users to directly control their assets and private keys. These exclusions highlight the EU's ambiguous approach to regulating digital assets. #HOTTRENDS #Cryptoniteuae