TechFlow news, members of the European Parliament may vote during a committee meeting next week to block anonymous cryptocurrency payments, including small transactions. Lawmakers from the EU's Economic Affairs Committee are also preparing to include transfers to self-hosted or private wallets—also known as non-custodial wallets—into anti-money laundering (AML) checks, and aim to halt cryptocurrency transfers between the EU and jurisdictions such as Turkey and Hong Kong.
Under current rules, any bank transfer exceeding 1,000 euros (approximately $1,099) requires identification of the recipient. EU member governments have indicated they want to eliminate this threshold when extending regulations to crypto assets, as large transactions could otherwise be split into smaller ones below the limit.
Internal parliamentary documents also show lawmakers will warn crypto service providers against conducting or facilitating any transfers deemed to carry high money laundering or criminal risks.
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