Self-hosted wallets, NFTs and privacy coins - how anti-money laundering laws set to be voted by EP_Economics and EP_Justice could affect crypto. jackschickler reports
Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.Large crypto-asset transfers from anonymous self-hosted wallets would be banned under plans set to be voted on by lawmakers on March 28, according to documents seen by CoinDesk.
Under the current proposal, traders would be forbidden from making or accepting anonymous crypto transfers over 1,000 euros . If the customer's identity can be verified or if a regulated crypto provider is involved, the transaction would be allowed. The initial draft of the law was even harsher, but the text was liberalized at a March 22 internal meeting, CoinDesk understands.
The legislation also bans businesses from accepting more than 7,000 euros in cash, and creates a new EU anti-money laundering agency, the AMLA.
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