#EUPrivacyCoinBan

⚡The European Union deals a heavy blow to digital wallets..⚡

* The European Union has taken a new step to strengthen its efforts in combating money laundering by protecting financial transactions.

* Apparently, the Union announced that it is no longer possible to use digital wallets that do not have clear proof of ownership to send or receive payments.

* These regulations commit to eliminating the high levels of protection that accompany some cryptocurrency operations, making it even more difficult for illicit activities to go undetected.

* The laws approved by the European Parliament's high committee state that all cryptocurrency payments must now be linked to real-life identities.

* The laws regarding cash transactions have also been tightened.

- It is now illegal to send or receive cash amounts exceeding €10,000, and the limit for private cash transfers is €3,000.

* These steps make it impossible to hide money and ensure that large transactions of all kinds are monitored and controlled by the government.

* Although most people agree with the strategy, it has faced criticism from some quarters.

* They believe that strict laws like these could impact the economy and society as a whole by making the use of individuals' private money difficult.