European Parliament approves ban on anonymous crypto transactions

Source: Crypto Briefing

“A majority of the European Parliament’s lead committees have approved a ban on anonymous cryptocurrency transactions made through hosted crypto wallets, as part of the European Union’s expanded Anti-Money Laundering (AML) and Counter-Terrorist Financing laws. The new AML legislation, approved on March 19, applies limits for cash transactions and anonymous cryptocurrency payments. Under the new rules, anonymous cash payments over €3,000 will be banned in commercial transactions, and cash payments over €10,000 will be completely banned in business transactions. The European Parliament’s ban on anonymous crypto transactions applies specifically to hosted or custodial crypto wallets offered by third-party service providers, such as centralized exchanges.” [editor’s note: Not your keys, not your crypto — don’t use hosted wallets! – TLK] (03/24/24)