The EU will tighten the rules of anonymous crypto transfers

Next week, EU parliamentarians will vote to abolish anonymous cryptocurrency payments. Identification of the recipient of the transfer will be provided even for minimal transactions.

There is currently a rule in the EU whereby a payee in digital assets must be identified for amounts greater than 1,000 euros ($1,099). But if the new bill is adopted, this bar will be lowered many times over.

According to experts, this will help fight the so-called smurfing. This is the practice of laundering money by making a large number of small transactions. After the introduction of the new law, fraudsters will not be able to take advantage of this loophole.

 

 

The parliamentarians will also recommend to refrain from making or accepting payments from jurisdictions where there is a high probability of fraud and money laundering. This can be any region that the EU considers a tax haven.

We are talking about strengthening AML control and limiting transfers between the EU on the one hand, as well as Turkey, Iran, Russia, Hong Kong, the Virgin or Cayman Islands and any other point on the map.

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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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