First published on the NIDO Russia Telegram channel.
EU lawmakers to vote on blocking anonymous crypto payments
According to a Twitter thread posted by Patrick Hansen, Head of Growth and Strategy at Unstoppable Finance, on March 31, the Committee on Economic and Monetary Affairs (ECON) will vote to end the anonymity of small crypto payments. EU lawmakers may include self-hosted or private wallets like Ledger or Metamask in the anti-money laundering package and want to halt crypto transfers between the EU and jurisdictions with very low rates of taxation for foreign investors.
Under existing laws, the payee must be identified for any bank transfer over €1,000. But according to the draft report, the lower limit on extending the rules to crypto assets could be lifted, which means that all crypto transactions will be accompanied by compulsory identity verification.
If approved by ECON, the document will be submitted to the European Commission and the European Council. Significant changes may be made before final adoption.
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Source: therussianmarket
