Friday, July 30

European Commission

Bitcoin, crypto, crypto wallet, cryptocurrency, Europe, European Commission, European Union, Markets, MI Exclusive, Money Laundering, Terrorism

The EU wants to ban anonymous crypto wallets to counter money-laundering and terrorism financing

FILE PHOTO: European Union flags flutter outside the European Commission headquarters in Brussels Reuters The European Union is looking to ban anonymous cryptocurrency transactions, tightening its crackdown on money laundering and terrorism financing to protect its citizens and the bloc's financial system. The package published on Tuesday consists of four legislative proposals from the bloc's executive arm, the European Commission. It was accompanied by a fact sheet.Proposals include the creation of a new EU body to transform anti-money laundering and countering terrorism financing supervision and the imposition of an EU-wide limit of €10,000 ($11,800) on large cash transactions."Today's amendments will ensure full traceability of crypto-asset transfers, such as bitcoin," the pro...