#EUPrivacyCoinBan

🇪🇺 European Union DOES NOT prohibit anonymous cryptocurrency transactions

🖤 The European Parliament adopted a new package of anti-money laundering (AML) measures and AML rules (AMLR) that will come into force in summer 2027.

🖤 AMLR is not crypto regulation but an extended AML/CFT system for institutions with "obliged entities" (OEs) status.

🖤 AMLR does not impose bans on transfers from non-custodial wallets like Ledger, Safepal, Metamask, etc., nor does it restrict P2P transactions.

🖤 You can use your wallets to purchase goods/services within the EU without any restrictions.

🖤 The existing MiCA regulation already prohibits the listing of crypto-assets with built-in anonymization functions.

🖤 All financial institutions, including CSPs (crypto-asset service providers), as well as non-financial organizations like football clubs or gambling, fall under AMLR.

🖤 AMLR generally does not apply to manufacturers of hardware and software for self-storage of cryptocurrencies. Standard KYC/AML procedures will be required for all CASPs (Crypto-Asset Service Providers, e.g., crypto exchanges) regulated by MiCA.

🖤 According to AMLR, custodial crypto businesses cannot provide services to anonymous users, which is already prohibited in Europe.

🖤 Existing crypto regulations (FATF, TFR) already require crypto exchanges to collect data on transactions with non-custodial wallets.

🖤 Under AMLR, Art. 59, cash payments are indeed limited to €10,000, with the possibility of introducing lower limits.

Conclusion: AMLR does not impose restrictions on wallet usage or P2P transactions, allowing users to freely manage their crypto assets. Thus, the impact of AMLR on crypto will be extremely limited.

📄 Full 329-page document available for review: 1297044EN.pdf