EU to ban anonymous crypto deals
The European Union wants to shift up a gear in the fight against money laundering. A new package of rules from the EU Commission provides for the collection of personal data in crypto transactions.
With a new package of rules, the EU Commission wants to record personal information in transactions with digital cryptocurrencies in the future. In this way, investigative authorities should be able to take faster action against criminal activities. The aim of the legislative initiative is to record the personal data of all parties involved in purchases and sales, as "euronews" writes
Combating money laundering better
The long-term goal of the EU Commission is a new authority emerging from the law that will fight money laundering even more efficiently and also monitor trading activities related to cryptocurrencies. According to the report, existing regulations for preventing and combating money laundering and terrorist financing should then apply to all market activity involving cryptocurrencies.
In concrete terms, implementation of the plans would mean that crypto trading platform operators and their activities within the EU would have to store names, addresses, dates of birth, and account numbers in the future. The names of the persons who are the target of the transactions should also be visible. However, the new regulations are not intended to impose regulatory burdens, but rather to prevent criminal activities in a targeted manner, according to the report.
