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šØšŖšŗEU's New #Crypto AML #Rules
š¹New Oversight Measures: The EU will require crypto-asset service providers to record data on senders and recipients of crypto transfers.
š¹AML Regulation Expansion: These measures are part of the Anti-Money Laundering Regulation (AMLR), applying traditional AML rules to crypto.
š¹Effective Date: New rules will come into force on July 1, 2027.
š¹Privacy Coins Ban: EU-licensed entities will be barred from dealing with privacy coins like Monero (XMR), Zcash ($ZEC ), and Dash.
š¹No Anonymous Wallets: The regulation prohibits anonymous wallets and interactions with them via EU service providers.
š¹Self-Hosted#Wallets : Any crypto transfers #above ā¬1,000 to/from self-hosted wallets will trigger mandatory identity verification.
š¹#Surveillance Criticism: Critics like Monero developer Riccardo Spagni argue these rules favor surveillance over privacy and do little to deter crime.
š¹Direct Agency Access: Agencies like the EU AML Authority will have immediate access to crypto account data from service providers.
š¹New Oversight Measures: The EU will require crypto-asset service providers to record data on senders and recipients of crypto transfers.
š¹AML Regulation Expansion: These measures are part of the Anti-Money Laundering Regulation (AMLR), applying traditional AML rules to crypto.
š¹Effective Date: New rules will come into force on July 1, 2027.
š¹Privacy Coins Ban: EU-licensed entities will be barred from dealing with privacy coins like Monero (XMR), Zcash ($ZEC ), and Dash.
š¹No Anonymous Wallets: The regulation prohibits anonymous wallets and interactions with them via EU service providers.
š¹Self-Hosted#Wallets : Any crypto transfers #above ā¬1,000 to/from self-hosted wallets will trigger mandatory identity verification.
š¹#Surveillance Criticism: Critics like Monero developer Riccardo Spagni argue these rules favor surveillance over privacy and do little to deter crime.
š¹Direct Agency Access: Agencies like the EU AML Authority will have immediate access to crypto account data from service providers.
šØECB VS COMMISSION OVER CRYPTO THREAT
š¹EU split deepens as ECB warns Trumpās crypto push could trigger financial contagion in Europe.
š¹ECB urges urgent rewrite of MiCA, citing risk from U.S. dollar-backed stablecoins
š¹Commission dismisses fears, calling ECB's view āmelodramaticā
š¹ECB sees threat to EU monetary sovereignty, fears shift of EU savings to U.S.
š¹New U.S. laws ā STABLE & GENIUS ā may boost stablecoin supply to $2T by 2028
š¹Tensions fueled by ECBās push for digital euro vs. dollar-dominated crypto dominance
#ECB #MiCA #Stablecoins #DigitalEuro #EUFinance
-Politico (April 22, 2025)
š¹EU split deepens as ECB warns Trumpās crypto push could trigger financial contagion in Europe.
š¹ECB urges urgent rewrite of MiCA, citing risk from U.S. dollar-backed stablecoins
š¹Commission dismisses fears, calling ECB's view āmelodramaticā
š¹ECB sees threat to EU monetary sovereignty, fears shift of EU savings to U.S.
š¹New U.S. laws ā STABLE & GENIUS ā may boost stablecoin supply to $2T by 2028
š¹Tensions fueled by ECBās push for digital euro vs. dollar-dominated crypto dominance
#ECB #MiCA #Stablecoins #DigitalEuro #EUFinance
-Politico (April 22, 2025)
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