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EU Money Laundering Law Won’t Prevent Crypto Payments, Lead Lawmaker Says

2023-03-28 17:37:11 Share

New anti-money laundering rules being discussed by the European Parliament won't block crypto payments, according to Damien Carême, a leading EU lawmaker. The proposed Anti-Money Laundering Regulation would impose a limit of €1,000 ($1,080) for payments made from self-hosted wallets where it isn't possible to identify the payer. Carême said the rules wouldn't prevent crypto transactions, but rather only apply when identification isn't possible. He also referred to money laundering provisions in the metaverse, and said he didn't want to see dirty money flow into other sectors due to banking controls. The vote will now enter negotiations with the EU's Council to frame a consistent version of the law.
(By Jack Schickler)