#EUPrivacyCoinBan In November 2022, a draft law on combating money laundering prepared by the Czech Republic proposed to prohibit financial institutions and cryptocurrency services from interacting with anonymous coins. The document provided for a ban on the storage and transfer of such assets, which would effectively mean their exclusion from legal circulation in the EU. In May 2023, the MiCA regulation (Markets in Crypto-Assets) came into force, which strengthened the requirements for transparency in cryptocurrency transactions. In particular, it introduced the so-called 'travel rule,' requiring cryptocurrency platforms to collect information about the senders and recipients of transfers, which contradicts the principles of anonymity underlying private coins.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.See T&Cs.