So, there's this provisional agreement from some interinstitutional talks. You can check out the details in the document here.
Patrick Hansen did a nice breakdown of the key points in his tweet.
He mentioned that yesterday showed why we shouldn't always trust what crypto Twitter or even crypto news say about policy stuff. Let’s clear up the misconceptions that the EU is putting a ban on anonymous crypto transactions or self-custodial wallets. Here’s what the EU’s Anti Money Laundering Regulation really says and what it means for crypto in the EU.
What surprised me was that:
This is understandable regarding gambling services, but I am surprised that football clubs are also included!!!
While I liked this:
I find this rather positive
In any case, I expect that the agreement did not bring anything new. All of these regulations had previously existed in one form or another.
But I think LoyceV already posted that in another thread, didn't he?
Although it's not bad to talk in a separate thread about it. So I understand that under 1.000 you could transact without identifying yourself with a company in the EU, and P2P I imagine that there are no limits (apart from the fact that they would be very difficult to enforce).
This topic needs to be examined more thoroughly, because the document contains a lot of pages. In a couple of years, AML Rules will work almost always when payments are made from an unknown wallet to a custodial wallet and vice versa.
And a limit of less than 1000 euros does not guarantee that there will be no checks.
The reason that I believe that football clubs are included is because they're technically a business too which means that they're going to be reporting some taxes and as an organization that's got a lot of fans, there's a potential that money laundering syndicates might use those clubs as a front for their operation, I mean that's what most money launderers look for to make sure that they can clean their dirty money, they want to legitimate businesses mixing the dirty money with the good money.
https://www.dlnews.com/articles/regulation/eu-parliament-passes-anti-money-laundering-bill/
EU will ban mixers and force crypto firms to surveil users in blow to DeFi anonymity
"The Anti-Money Laundering Regulation passed a final vote in the European Parliament.
The bill compels crypto firms to collect more data on users.
Tools providing anonymity services will be banned under the bill."
If DeFi services force users to undergo identity verification procedures, how will they continue to be DeFi?
Does this include any exchange service that does not ask depositors for data for transactions less than $10,000, or for all transactions, and does this include Monero ban?
Most DeFi is no longer DeFi because there is a token lockup and a kill switch.
In a couple of years, there will be no well-known services without a KYC procedure. But you can prepare for this by distributing the coins into smaller wallets now, so that there is no connection between these wallets.