EU Lawmakers Vote in Favor of Payment Limits on Anonymous Crypto Wallets – CoinDesk

Category: European Union

Lawmakers on two key committees in the European Parliament have voted in favor of imposing limits on payments by unverified crypto users, as part of a large scale overhaul of money laundering laws.

The plans, considered alongside measures to forbid businesses from accepting large cash payments and create a new European Union Anti-Money Laundering Agency, AMLA, were approved by the parliaments Economics and Civil Liberties committees on Tuesday, with six abstentions.

99 lawmakers voted in favor, while 8 voted against the limits.

Damien Carme, the French lawmaker who leads the parliaments negotiations on the overhaul, earlier told reporters that the plans wouldnt prevent crypto payments, since the cap of 1,000 euros wont apply if a regulated wallet provider is involved or the identity of the payer is known.

The measures were proposed following a string of dirty money scandals within the bloc, including the Pandora Papers leaks and concerning the processing of Russian funds by Danske Bank.

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EU Lawmakers Vote in Favor of Payment Limits on Anonymous Crypto Wallets - CoinDesk

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March 28th, 2023
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