The European Union (EU) is planning a series of regulations that will include strong monitoring of Bitcoin and crypto transactions. Accordingly, all crypto transactions over 1,000 euros should be checked. This represents a massive regulatory intervention on the ownership of Bitcoin and other cryptocurrencies. How will the regulation be for investors?
What does the EU want for Bitcoin and cryptocurrencies?
The European Union (EU) has agreed on a provisional draft law on Bitcoin and other cryptocurrencies. This is about combating money laundering via digital currencies.
Accordingly, crypto service providers must check customers for transactions worth over $1,000. This is intended to prevent illegal activities among cryptocurrency users.
Why does the EU want to regulate Bitcoin?
The EU launched an important regulation for cryptocurrencies called MiCa last year . Originally there was even talk of banning private wallets. But ultimately the regulation was much more positive for crypto investors.
The EU has a bad reputation among Bitcoin and crypto fans due to regulatory madness. While the USA is strengthening Bitcoin mining and approving Bitcoin spot ETFs , the EU is increasingly looking to regulate and restrict Bitcoin and cryptocurrencies for reasons such as money laundering.
What does this mean for investors?
If the new directive passes through the EU Parliament, it could become increasingly complicated to acquire and transfer large sums of Bitcoin and crypto. For private investors who hold their coins on their own wallets, there will be little change at the moment.
However, the platforms must comply with new proof requirements. For amounts of at least 1,000 euros in equivalent value, you must ensure that the deposited values
It is a renewed regulatory intervention that makes trading Bitcoin and cryptocurrencies more difficult for small investors. This means that it will become increasingly unattractive for crypto investors to operate within the EU in the future.
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