SCOOP: Privacy coins like dash and monero could be effectively banned under a leaked EUCouncil money-laundering proposal, the latest in a regulatory onslaught against online privacy. jackschickler reports.
The European Union could ban banks and crypto providers from dealing in privacy-enhancing coins such as zcash, monero and dash under a leaked draft of a money laundering bill obtained by CoinDesk.
“Credit institutions, financial institutions and crypto-asset service providers shall be prohibited from keeping …anonymity-enhancing coins,” said a legislative draft seen by CoinDesk, dated Nov. 9, which has been circulated to the bloc's other 26 member states for comment. The Czech proposal responds to a demand from countries negotiating the text, said the diplomat, who spoke on the condition of anonymity on negotiations taking place behind closed doors.
Under the Czech plans, crypto asset providers would be obliged to verify customers' identity even for occasional transactions of under 1,000 euros , and to probe the nature and purpose of the business for larger payments. That would make rules more onerous than for other kinds of firms such as banks, where due diligence rules only kick in for larger payments, apparently due to fears that crypto payments can easily be broken up into smaller chunks.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto Savings Account | Best Crypto Savings Platform | BinanceWith Binance Simple Earn, users have the freedom of redeeming their assets from Locked Products at any time 🤝 If you're not sure on how to do it, here's a guide to help you. Get started ➡️
Read more »
Kevin O'Leary: FTX Collapse Is a Turning Point for the Industry — 'Crypto Bottom Is In' – Exchanges Bitcoin NewsKevin O'Leary says the crypto bottom is in. He sees the collapse of FTX, which he invested in, as a turning point for the industry. bitcoin cryptocurrency
Read more »
FTX Implosion TL;DR and Why Proof of Reserves is NOT the Solution We Need | HackerNoonYou're reading this because the FTX implosion cascade sent every crypto-influencer into an engagement farming overdrive - 'Get Your Crypto off Exchanges - crypto cryptocurrency
Read more »
Bitcoin Cash Could Be Legal Tender in St. Kitts By March, Prime Minister saysBitcoin Cash could be legal tender in St. Kitts and Nevis by March 2023, the Caribbean country's prime minister has said. jackschickler reports.
Read more »
First Mover Americas: FTX Faces Criminal ChargesBankrupt crypto exchange FTX is facing criminal charges in the Bahamas, where its headquarters are located. JamieCrawleyCD reports.
Read more »
FTX, Sam Bankman-Fried Sit in the Crosshairs of U.S. ProsecutorsFTX’s collapse has exposed the company and founder Sam Bankman-Fried to potential U.S. criminal liability, attorneys say
Read more »