MEP Patrick Breyer has announced the adoption of a new anti-money laundering law, including a ban on anonymous transactions from custodial wallets.
The EU committee states:
- Prohibition of cash payments over €10,000
- Prohibition of anonymous cash payments over €3,000
- Prohibition of anonymous crypto payments to hosted wallets without any threshold
The law is expected to be fully implemented within three years, but according to lawyers at Dillon Eustace the restrictions will be implemented sooner.
