EU Parliament Passes Privacy-Busting Crypto Rules Despite Industry Criticism
European Union lawmakers voted in favor of controversial measures to outlaw anonymous crypto transactions, a move the industry said would stifle innovation and invade privacy.
The proposals are intended to extend anti-money laundering (AML) requirements that apply to conventional payments over EUR 1,000 ($1,114) to the crypto sector. They also scrap the floor for crypto payments, so payers and recipients of even the smallest crypto transactions would need to be identified, including for transactions with unhosted or self-hosted wallets.
Source: EU Parliament Passes Privacy-Busting Crypto Rules Despite Industry Criticism