EU plans to make Bitcoin transfers more traceable

Radio Pakistan  |  Jul 21, 2021

Proposed changes to EU law would force companies that transfer Bitcoin or other crypto-assets to collect details on the recipient and sender.

The proposals would make crypto-assets more traceable, the EU Commission said, and would help stop money-laundering and the financing of terrorism.

The new rules would also prohibit providing anonymous crypto-asset wallets.

The proposals could take two years to become law.

The Commission argued that crypto-asset transfers should be subject to the same anti-money-laundering rules as wire transfers.

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