Is this true?

https://x.com/watcherguru/status/1771563276364570653?s=46

Founder /kiwi-news, a decentralized Hacker News

“may not apply to you personally” lol how do you prevent money laundering by individuals if youre not going to enforce it on them? Probably regulated at offramp whereby you need to prove origins of assets - so as an individual you’ll still not be able to offramp assets received from anon accounts above N euros

thankfully seems to be just clickbait. I was already packing my bags

thankfully seems to be just clickbait. I was already packing my bags https://warpcast.com/timdaub.eth/0xc6d21141

IANAL, but imo no. This is my understanding:

- EU requires regulated entities to do KYC for cash payments over €3,000. Unclear if this applies to crypto payments.
- EU bans crypto-asset provider from supporting custodial wallets for anon coins. Non-custodial wallets unaffected

It’s more nuanced than this but still worrying. Haven’t found a good summary from a lawyer yet

It’s more nuanced than this but still worrying. Haven’t found a good summary from a lawyer yet https://x.com/eucinitiative/status/1771586603741225064?s=46

There are replies clarifying that P2P self custody is not affected and this only applies to payments for a merchant or business

Still not good since there is an increasingly blurry line between P2P and P2B in crypto

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https://www.europarl.europa.eu/meetdocs/2014_2019/plmrep/COMMITTEES/CJ12/AG/2024/03-19/1297044EN.pdf

lol how would they possibly implement this

yep https://www.patrick-breyer.de/en/eu-cash-cap-and-ban-on-anonymous-crypto-payments-results-in-financial-paternalism/

Monstrous. The good thing: European Elections are in June. So, let's see who's for and who's against it :-)

VPN geo-fencing transaction outside of EU governance?

https://www.patrick-breyer.de/en/eu-cash-cap-and-ban-on-anonymous-crypto-payments-results-in-financial-paternalism/

I've read about it being a proposition, not sure if this is law yet
a "crypto payment "  is defined as buying a real world asset or service...in my understanding

Nope.

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Based on the replies, it sounds like this is untrue..?

If that is the case, I don’t understand why watcher would post something like this - I thought I could trust them

Bullish, they wanna to make sure they get their share of bull market gains