Privacy-Enhancing Crypto Coins Could Be Banned Under Leaked EU Plans

Privacy-Enhancing Crypto Coins Could Be Banned Under Leaked EU Plans


Under the Czech plans, crypto asset providers would be obliged to verify customers’ identity even for occasional transactions of under 1,000 euros ($1,040), 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.

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