EU lawmakers provisionally agree on anti-laundering rules for crypto, requiring verified customer identities for transfers between regulated digital wallets
The European Parliament and Council reached a provisional agreement to force crypto providers to provide identifying information …
By aligning Parliament and Council around identity checks for transfers between regulated wallets, the measure moves crypto-transfer compliance from a proposed or chamber-specific position toward a shared legislative framework.
First-order effects
Regulated crypto providers will need to verify and transmit customer identity information when handling transfers between regulated digital wallets under the provisional agreement.
The European Parliament and Council have narrowed their differences on crypto-transfer anti-laundering controls, creating a common compliance direction for providers operating under EU rules.
Second-order effects
Wallet and exchange operators will need transfer workflows that reliably associate counterparties with verified customer records, making compliance operations a more central part of service design.
Providers whose products emphasize anonymous transfers face a weaker fit with the EU market as identity checks become the expected condition for regulated-wallet transfers.
Third-order effects
If this approach is carried into final rules, EU crypto infrastructure will increasingly be governed as a traceable payments system rather than a separate anonymous-transfer channel.
The policy path points toward programmable settlement being constrained by financial-crime controls, with regulated intermediaries becoming the enforcement layer.
The trend: EU crypto policy is steadily embedding identity verification and transaction traceability into regulated digital-asset transfers.
EU institutions have found a provisional political agreement on the Transfer of Funds Regulation. I believe it strikes the right balance in mitigating risks for fighting money laundering in the crypto sector without preventing innovation and overburdening businesses. https://twit…
1/Deal! After months of negotiations with the Council, we agreed the most ambitious travel rule for transfers of crypto-assets in the world. We are putting an end to the wild west of unregulated crypto, closing major loopholes in the European anti-money laundering rules. Thread👇 …
Imagine having this much zeal about expanding a surveillance regime on the people you are supposed to be representing in a democracy https://twitter.com/...
2/12 All crypto-asset service provider become obliged entities under AMLD. Crypto-ATMs are captured by the rules. The travel rule for crypto will apply to all transactions from/to CASPs from the first euro.
Let's see where this goes. Regulation is needed, but not at the cost of stifling innovation. Allowing unhosted digital wallets is a must, it's absolutely ridiculous to restrict that. It would be like restricting cash transactions. https://www.coindesk.com/...
Europe is truly digging it's own grave, and planting their own flowers around it. The West is dying & these people are utterly blind to it. They pat themselves on the back & drink champagne as the Titanic sinks. Not Your Keys, Not Your Coins #Bitcoin https://twitter.com/...
Tonight's deal on the “transfer of funds regulation” explained 👇 Thanks for the excellent cooperation @ernesturtasun and @Assita_Kanko! https://twitter.com/...