The EU is no stranger to weird laws and yet they continue to out do themselves. The EU has decided it's time to crack down on no only crypto payments but also Cash. Showing they clearly don't even have their ducks in a row when it comes to their own finances. I guess that war with Russia and the USA not paying for everything is starting to show each of these countries they are pretty worthless and need to start pulling their own weight.
Thus you have this new ruling as part of that regulation footstamp.
The regulation is set for any CASH payment exceeding 10,000 euros will be prohibited and any anonymous cash transactions above 3,000 euros to be outlawed.
The AML package also includes crypto payments made using unidentified self-custody wallets will become illegal. Which includes any wallet mobile, desktop or browser based that's not a licensed provided.
Bro this was the whole reason Bitcoin was created in the first place do they really think this is going to stop people lol. Legit you could simply call a new blockchain not crypto and something else and you'd be in the clear.
If something like this was attempted in the USA you can be sure there would be massive push back. Anonymous transactions are a human right as it provides individual financial autonomy and trying to track it goes into the infringement of privacy rights. By law at least in the USA the law is required to get a warrant in order to look into these things but we saw a MASSIVE encroachment of that when 2001 terror attacks happened which is only now slowly but not so great attempted to be restored and yet another reason why bitcoin was created in the first place.
Once you start throwing all these random dumb laws at this you're going to quickly find that bitcoin starts to lose some of it's value and could kill it only to be replaced by a new system.
No Privacy? What A Joke!
We have been seeing constant crack downs for example on exchanges and that's only going to get worse. To the case of where a CEX for the most part wont have much of a reason to exist anymore unless it's for the savvy elite few.
Instead DEX and privacy focused blockchains will only increase in value and usage.
The silver lining with the above is that it's only for payments so one could say they are simply donations etc.
The clear fact is governments are SLOW and crypto, AI etc will now always out beat governments and governments are now fearing the loss of power. Because of that they are trying to throw out random laws to try and draw things back in but all they are doing is pissing every day people off with their wastefulness and dumb new laws to the point people are getting more and more fed up with them.
I don't know about you friends but these new "laws" are constantly about taking away freedoms of people and feel more and more like a communist and dictator type of leadership.
They are tired of the government taking more and more, spending more and more and not allowing people to have the freedoms they once had where you got to keep most of your hard earned money and YOU not someone else got to make the decisions of what you wanted to do with that money. What we are in right now is a turning point back to that of which people will win more and more and governments will continue to lose and lose. Get STACKIN my friends.
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