EU Limits Anon Crypto Transfers
The anti-money laundering regulation was approved by the Economic and Civil Liberties committees of the European Parliament. On Tuesday, this will impose a $1,000 cap on crypto wallets that are not validated. The restriction is a component of the EU’s revision of its anti-money laundering laws, which will also affect DAOs, NFT platforms, and DeFi platforms.
The latest effort by the EU to reform its anti-money laundering legislation is the passage of a bill by European legislators that will set a $1,000 limit on payments made by anonymous cryptocurrency users. Eight lawmakers opposed the limits, while 99 voted to impose them.
The $1,000 threshold only applies to unregulated wallet providers and unverified wallets, according to legislator Damien Carême, the chief negotiator in the overhaul negotiations, who earlier stated that the restrictions would not prevent cryptocurrency payments.
(With inputs from Shikha Singh)
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