European lawmakers almost unanimously voted in favor of the new draft bill limiting anonymous crypto transactions exceeding 1,000 euro.
Highlights
- Members of the European Parliament approved three ramping up regulations around crypto transactions.
- The legislation deals with money laundering and terrorism financing and is not directly targeted at digital assets.
- Once it’s signed into law, it will affect the industry by limiting anonymous transfers to just 1,000 euro.
- The limit has been set to €7,000 for cash and €1,000 ($1,087) for anonymous cryptocurrency transfers.
- The new regulations will complement the long-debated Markets in Crypto-assets rules (MiCA) bill – a sweeping 400-page legislation for digital assets that is slowly taking shape as a new legal framework for crypto businesses across the European Union.
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