GDPR and AML rules are colliding head-on, and Bitcoin finds itself caught in the middle.
The European Union could render #Bitcoin❗ almost unusable by 2027... without ever officially banning it.
You ask how? A collision between GDPR and anti-money laundering (AML) laws puts crypto in a legal deadlock. Explanations 👇
The problem with GDPR is that it requires that any personal data (even a Bitcoin public key!) can be deleted.
But since Bitcoin's blockchain is immutable, it's impossible to modify or delete anything.
Result? Bitcoin is not GDPR-compliant. 🚫
To circumvent GDPR, some propose anonymizing the data. But AML laws prohibit anonymization tools (mixers, tumblers) and track unidentifiable transactions.
For them: Anonymizing = suspicion of money laundering.
#AML #crypto
So here we are in a total deadlock. By complying with GDPR, we violate AML rules. And by complying with AML, we violate GDPR.
In both cases, we find ourselves in illegality. Bitcoin becomes illegal in fact, without a clear ban.
This is a silent attack. 🕵️♂️
The EU is tightening the noose on crypto. If nothing changes, Bitcoin could be marginalized in Europe in a few years.
What to do? Follow the debate, stay informed, and defend financial freedom!
What do you think?
