According to documents reviewed by CoinDesk, the European Parliament will be anonymous at its committee meeting next week. cryptocurrency will hold a vote to prevent their payment. The hurdle will also cover small-scale cryptocurrency transfers.
“Members Want to Ban Cryptocurrency Transfers to Turkey”
Members of the Economic Affairs Committee are demanding that crypto users’ crypto transfers to self-hosted and private wallets be controlled under anti-money laundering (AML) measures and to block crypto transfers between European Union regions and countries such as Turkey and Hong Kong.
When the current laws are examined, it is seen that the identities of the recipients of bank transfers over 1.000 Euro must be determined. However, the governments of the member states of the union have said that they want to remove this lower limit when they add crypto assets to these laws.
Authorities state that they want this limit to be removed, in case people send their transfers by dividing them into small pieces and remain anonymous.
Identity Information Will Be Required For Crypto Transfers Regardless Of The Amount
The laundering authorities of countries claiming that cryptocurrencies are used to finance terrorism and child abuse seem to demand identity checks for all crypto shipments, no matter how large, in their call to European Union lawmakers.
However, right-wing parliamentarians seem to have accepted that they will not win the vote on this issue, even though they oppose the decision to block anonymous transactions.
Authorities will also ask crypto service providers to block money laundering or potentially criminal transfers, according to parliamentary documents seen by CoinDesk.
With this decision, the members of the European Parliament want to make it difficult or impossible to transfer from the European Union to countries with low taxes such as Turkey, Russia, Hong Kong and Iran.
*Not investment advice.