EU to make Bitcoin transfers more traceable | Page 2 | Sunday Observer

EU to make Bitcoin transfers more traceable

25 July, 2021

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. “Given that virtual assets transfers are subject to similar money-laundering and terrorist-financing risks as wire funds transfers... it therefore appears logical to use the same legislative instrument to address these common issues,” the Commission wrote. - BBC

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