Square EU targets privacy coins while leaving Bitc
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EU targets privacy coins while leaving Bitcoin transfers untouched source-logo crypto.news 36 m
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The European Union has approved anti-money laundering rules that will ban regulated crypto firms from supporting privacy coins while leaving direct Bitcoin transfers between private wallets outside the scope of mandatory identification requirements.
According to Regulation (EU) 2024/1624, which will take effect on July 10, 2027, crypto-asset service providers operating in the bloc will face stricter customer verification obligations and new restrictions on services that enhance transaction anonymity.
The regulation arrives alongside a bloc-wide €10,000 (around $11,500) limit on commercial cash payments and introduces additional compliance requirements for several industries considered vulnerable to money laundering risks.
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