cryptocurrencies continuing its regulatory work on European Union (EU)will hold a new vote on cryptocurrencies on Thursday, March 31.
EU Parliament Economic and Monetary Relations Committee, aiming to regulate decentralized wallets where user information is not stored and shared with governments in AML legislation will vote on changes to be made.
The amendment package to be made in the AML legislation will comply with the obligations of financial institutions to provide information regarding the transactions of their customers. cryptocurrency transactions will also include.
The European Parliament wants to make it easier to track criminals with its obligations to provide information on cryptocurrency transactions.
The following statements were used regarding the amendment to be made in Article 29(a) of Amendment 124:
“In a cryptocurrency transfer from a distributed ledger address linked to a cryptocurrency service provider, known as a serverless wallet, the cryptocurrency service provider must obtain the information of both the buyer and the seller.”
Draft amendment to be voted on Thursday, purses made to or from non-custodial wallets All transactions in the amount of 1,000 Euros or more obliges to notify the competent AML authorities.
Patrick Hansen of blockchain company Unstoppable DeFi He shared on his Twitter account on the subject.
of the European Parliament To include wallets such as Ledger and MetaMask in AML legislation Hansen, who wrote that he will vote, decentralized cryptocurrency service providers He pointed out that it is difficult to comply with this rule.
Hansen also stated that he is concerned that crypto money service providers will stop transacting with wallets that do not offer custody services, that is, outside of AML/KYC standards, to comply with legal requirements.