Europe limits anonymous cryptocurrency transactions to 1,000 euros

With the approval of a new bill in the European Union, a limit of 1,000 euros is established for anonymous crypto transactions, in order to combat related crimes

The European Union approved establishing a cap of 1,000 euros on anonymous cryptocurrency transactions with the aim of stopping crimes such as money laundering and financing terrorist acts.

In this sense, “entities, such as banks, asset and crypto asset managers, real estate and virtual agents, and high-level professional soccer clubs, will be required to verify the identity of their clients, what they own and who controls the company.”

The EU authorities seek to safeguard the funds of investors, whether companies or individuals, from the vulnerability of the crypto market and the current crisis on the global stage.

The cap established by MEPs applies to anonymous transactions. Those made in cash will remain at 7,000 euros.

The measure, which will be definitively debated in a plenary session in April, is based on the security and protection of assets and people.


With information from Bolsamania and other media specialized in cryptocurrencies

(Reference image source: Kanchanara, Unsplash)

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