ECB opposes lowering the amount threshold for anonymous payments in the EU

The leadership of the European Central Bank believes that there is no need to lower the threshold for anonymous crypto payments in the European Union.

Deanonymization of small payments will not bring the expected result. Therefore, it is simply not necessary to verify transactions with small amounts in cryptocurrencies.

According to Fabio Panetta, who leads the development of the digital euro at the ECB, European CBDC holders will be able to circumvent AML requirements. Therefore, it is worth introducing simplified verification to speed up transaction processing.

 

 

In his interview, he mentioned that as part of the creation of the digital euro, the team led by Panetta was conducting research on this issue. In particular, a survey was conducted of different groups of residents of the European Union.

After analyzing the data obtained, it was found that a compromise must be reached between the needs of users of the cryptosphere and the goals of public policy regarding the anonymity of payments.

However, everyone knows that the European Union takes the prevention of money laundering very seriously. Banks and cryptocurrency platforms must follow KYC and AML requirements by verifying customer identities.

To take into account the wishes of investors in cryptocurrencies, ECB analysts put forward a proposal to introduce a kind of "anonymity vouchers". Their owner could hide a limited number of transactions for a certain amount from the authorities.

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CoinShark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information from open sources. Cryptocurrency is a high-risk asset, investments in it can lead to losses. Readers should do their own research before taking any action.

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