MEP and one of the initiators of the bill, Damien Carême, told reporters that the proposed amendments do not imply a complete blocking of cryptocurrency transactions. One-time transaction limits of 1,000 euros (about $1,080) are being introduced for anonymous payments.
“We absolutely do not prevent cryptocurrency transactions, but we limit their volume for cases where user identification is not possible,” Damien Karem said.
Karem explained to reporters that the provisions of the updated EU law on money laundering will affect the entire range of cryptocurrency transactions, including payment for goods and services in the metaverses. According to the MEP, it is extremely important to prevent “the flow of dirty money prohibited by banking legislation into other areas of cryptoeconomics.”
Earlier, the Council of the European Union agreed on an amendment to the data law, according to which smart contracts must provide for the possibility of forced termination. Thus, legislators intend to provide the ability to manage data and events by analogy with controlling software for home appliances of the Internet of things (IoT).
Source: Bits
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