EU Parliament Votes on Privacy-Busting Crypto Rules Industry Rails Against Proposals

The proposals are intended to extend anti-money laundering requirements that apply to conventional payments over 1,000 euros ($1,114) to the crypto sector. They also scrap the floor for crypto payments, so payers and recipients of even the smallest crypto transactions would need to be identified, including for transactions with unhosted wallets. Further measures under discussion could see unregulated crypto exchanges cut off from the conventional financial system.