Privacy Coins Could Be Banned Under Leaked EU Plans
Privacy Coins Could Be Banned Under Leaked EU Plans
Crypto providers would be forbidden from touching the likes of monero or dash under proposed government amendments to anti-money laundering rules.
cross-posted from: https://community.hackliberty.org/post/9693
The European Union could ban banks and crypto providers from dealing in privacy-enhancing coins such as zcash, monero and dash under a leaked draft of a money laundering bill obtained by CoinDesk.
The plans from Czech officials, who are chairing talks among EU governments on the proposed law, would represent the latest nail in the coffin for anonymous means of payment following tough new rules agreed over the summer.
“Credit institutions, financial institutions and crypto-asset service providers shall be prohibited from keeping …anonymity-enhancing coins,” said a legislative draft seen by CoinDesk, dated Nov. 9, which has been circulated to the bloc's other 26 member states for comment.