• The European Union Parliament has banned unidentified self-custody crypto wallets for transactions within the region as part of its broader anti-money laundering efforts.
• The ban targets anonymous cash transactions exceeding €3,000 and self-custody wallets on various platforms.
• Dissenting voices have argued that the ban may disproportionately affect law-abiding citizens and hinder financial privacy.

The European Union Parliament has taken a significant step by outlawing unidentified self-custody crypto wallets for making payments across the region.

A recent social media post by Patrick Breyer, an EU Parliament member, revealed that the ban received approval from most of the parliament’s leadership committee on March 19. This move is part of the EU’s broader anti-money laundering (AML) legislation.

How Europe’s New AML Regulations Impacts Crypto

The new regulations ban all anonymous crypto payments and cash transactions above certain limits. Specifically, they prohibit cash payments exceeding €10,000 or anonymous cash transactions beyond €3,000. The ban also targets self-custody wallets on mobile, desktop, or browser applications.

Get to know Godleak

Godleak crypto signal is a  service which provide profitable crypto and forex signals for trading. Godleak tried to provide you signals of best crypto vip channels in the world.

It means that you don’t need to buy individual crypto signal vip channels that have expensive prices. We bought all for you and provide you the signals with bot on telegram without even a second of delay.

Godleak crypto leak service have multiple advantages in comparision with other services:

•  Providing signal of +160 best crypto vip channels in the world
• Using high tech bot to forward signals
• Without even a second of delay
• Joining in +160 separated channels on telegram
• 1 month, 3 months , 6 months and yearly plans
• Also we have trial to test our services before you pay for anything

For joining Godleak and get more information about us only need to follow godleak bot on telegram and can have access to our free vip channels. click on link bellow and press start button to see all features

Join for Free

☟☟☟☟☟

https://t.me/Godleakbot

Also you can check the list of available vip signal channels in the bot. by pressing Channels button.

Although the law is slated to take effect in three years, there are suggestions that its implementation might be sooner.

Nonetheless, the new regulation is set to reshape how Europeans engage with digital currencies. It has also triggered apprehensions regarding user privacy and financial inclusivity due to its stringent stance against anonymity. Additionally, the regulation could pose significant barriers to innovation and impede widespread crypto adoption in the region.

Breyer, a dissenting voice within the parliament, argued that the ban could impact law-abiding citizens rather than curbing criminal activities. He emphasized that anonymous payments have served legitimate purposes.

He cited examples such as donations to individuals like Alexei Navalny and organizations like WikiLeaks. Moreover, he highlighted the importance of financial privacy for personal transactions.