The new EU AML/CFT framework has been greatly misunderstood in the crypto sector; some report that it outlaws anonymous crypto transactions through self-custody wallets.
Crypto lawyer Patrick Hansen explains that it exempts providers of self-hosted wallets like MetaMask and only restricts exchanges and brokers from serving anonymous accounts.
The European Union is stepping up its anti-money laundering game, and with its most recent initiative, it’s cracking down on anonymous payments. This new framework also extends to crypto, but rather than offer clarity, it has created great confusion on who is affected and who isn’t.
The framework was approved late last week by the European Parliament, with a majority of the lawmakers voting to back it. Patrick Breyer, a member of the regional legislative body representing Germany’s Pirate Party, was one of two who voted against it.
Von EU-Ausschuss beschlossen:Verbot von Barzahlungen über 10.000 €Verbot anonymer Barzahlungen über 3.000

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