for EU cryptocels: New ban on anonymous crypto transactions via self-custody wallet
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https://old.reddit.com/r/ethtrader/comments/1blv51x/eu_enacts_ban_on_anonymous_crypto_transactions/
https://old.reddit.com/r/Bitcoin/comments/1blqh7t/eu_committees_approve_cash_limits_and_ban_on/
https://old.reddit.com/r/ethtrader/comments/1blqga1/anonymous_crypto_wallets_now_illegal_in_the_eu/
https://old.reddit.com/r/Monero/comments/1bl8q3b/eu_parliament_committee_approves_cash_cap_and_ban/
EU enacts ban on anonymous crypto transactions via self-custody wallets
The recent Anti-Money Laundering legislation specifically outlaws certain limits for cash transactions and anonymous cryptocurrency payments.
In a recent regulatory change, the European Union (EU) has prohibited cryptocurrency transactions of any value made through unidentified self-custody crypto wallets. This update is a component of the region's newly implemented Anti-Money Laundering (AML) regulations.
According to a post by Patrick Breyer, a member of the European Parliament for the Deutsch Piraten Partei, the majority of the EU Parliament's lead commission endorsed the prohibition on March 19.
Notably, Dr. Breyer is one of the two leaders who opposed this approval. Gunnar Beck was the other Parliament member who voted against it, representing the Alternative for Germany (AfD) party. The ban on cryptocurrency payments applies specifically to unregistered wallets offered by service providers (hosted wallets), covering self-custody wallets provided via mobile, desktop, or browser applications.
The recent Anti-Money Laundering legislation specifically outlaws certain limits for cash transactions and anonymous cryptocurrency payments. Under these regulations, cash transactions exceeding €10,000 and anonymous cash payments over €3,000 will be deemed illegal.
The approved laws are expected to be fully operational within three years from their entry into force. However, Dillon Eustace, an Ireland law firm expects these laws to become fully operational before the usual enforcement timeline.
Fundamentally, many cryptocurrency networks function within permissionless environments, allowing anyone to create a cryptographic private key and granting unrestricted entry into the system.
This characteristic lies at the heart of cryptocurrencies' fundamental principles, offering a more inclusive, liberated, and equitable financial system that does not discriminate against its users in any form.
Experts and freedom advocates consider this recent approval a hit against financial freedom and fundamental human rights. German MEP Patrick Breyer opposes the bill, claiming it compromises economic independence and financial privacy. He considers the ability to transact anonymously to be a fundamental right.
The crypto sector, known for its emphasis on privacy and decentralization, has responded critically to the EU's regulatory measures. These new regulations have created mixed reactions, whereby some believe the new AML laws are necessary, while others fear they may infringe on privacy and hinder economic activity.
Daniel “Loddi” Tröster, the Sound Money Bitcoin Podcast host, underscored the practical hurdles and consequences of the recent legislation, elaborating on the impact on donations and the broader implications for cryptocurrency use within the EU. He articulated concerns over the stifling effect these rules might have. Notably, self-custody to self-custody transactions are not affected by the new law.
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Why do the heckin rightist nazi fashorinos keep gaining votes, even when we keep (wholesomely) taking rights away (in good faith)?
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unironically yes
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This is unironically a good thing and normal people support it. Cryptocels are a minority and subhuman
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It's your right to be scammed/grifted?
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EU bureaucrats just ban everything they don't understand atp
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Kneecapping tech is a small price to pay to signal how superior they are to the rest of the world.
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im surprised they didnt ban industrial revolution
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The EU didn't exist yet, if they did I'm sure they would've.
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it existed in spirit https://en.wikipedia.org/wiki/Luddite
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This but unironically.
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EU bureaucrats have nothing better to do than enact pointless rules and regulations that nobody really wants to begin with
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And Eurocels keep prooving over and over again that, if something isn't banned in the EU, sexy Indian dudes/arabcels will use it to scam gullible people.
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This is the thing cryptocels can't seem to (intentionally won't) understand. It's not equivalent to money, if the men with guns who control the Internet can just say 'you can't use it' on a whim.
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Lmao !germs, afd and piraten united fighting for personal freedom!
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What the frick are you people doing over there? You think this is a fricking joke?
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Piraten is basically a meme party, so yes.
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So they're like, pro-internet piracy? Sounds pretty based tbh
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Idk what their program is tbh
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Any normal germ ive talked to hates the wingcucked afd
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Yeah I think a lot of people who vote for them dont actually like them, ite just that all other parties are even worse in regards to refugees.
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I didn't read it but I see EU and Crypto so I am assuming they are passing legislation to make sure citizens cannot transfer funds in bad faith to organizations and political parties that bureaucrats find verboten in order to protect democracy.
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LOL at the seethe in this thread.
I hope the US does the same thing, just so I can watch rDrama's cryptobros have a complete meltdown.
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I understand how jealous you must be of people who haven't missed the train. Since you yourself have no protection against despotism, since a greedy bureaucrat could take away everything you own with the snap of her fat fingers as soon as you run afoul of the regime, you don't want anyone else to have any protection against despotism either.
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PAY YOUR TAXES
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Of course.
You can pay taxes while preserving a modicum of dignity and autonomy.
A foreign concept to you, voluntarily human chattel.
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How would this even be enforceable if everything is anonymous you r-slurs
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Buy those coins or cash out.
Inb4 ill just use another crypto with a completely traceable blockchain permanently recording my crime as a middle man
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They follow
your coins 
via internet 
tubes back to your router
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Frick the EU, jfc
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What the frick does it mean. Does this mean custodial wallets as in exchange wallets (in which case it's mostly a nothingburger
because exchanges have to follow KYC laws) or does this mean private wallets (which kinda means frickall too cause how would you even enforce this?)
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The latter. Will be interesting to see how this plays out if governments get serious about cracking down. imo the "dude who cares this is unenforceable" posts are premature, there are absolutely ways the state can throttle crypto.
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Yea definitely, I was just coping
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Libertarians on suicide watch
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I always wondered why cryptards all make the same idiotic arguments. They're spoonfed to them
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This law is hella antisemitic targeting those innocent s*x traffickers
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Snapshots:
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I feel like shipping gold at market
value to pay for goods is in the near future 
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