Several crypto-industry representatives urged European lawmakers and finance ministers to rethink anti-money-laundering rules. CoinDesk reports, citing a letter.<\/p>\n
According to the publication, the letter was signed by scientists, lobbyists and top executives of Ledger, Aave and Blockchain.com. They called the legislative proposals onerous and alarming.<\/p>\n
\n\u201cThe European Parliament’s proposals, leading to the disclosure of all transactions and wallet addresses, would put at risk every holder of digital assets […] and threaten years of preparatory work and the future of Web 3.0 in Europe,\u201d the letter says.<\/p>\n<\/blockquote>\n
In July 2021, the European Commission prepared a draft bill<\/a> in line with FATF recommendations. The document envisages the integration of a \u201ctravel rule\u201d and bans anonymous crypto transactions.<\/p>\n
In March 2022, the European Parliament’s Committee on Economic and Monetary Affairs adopted the draft regulation<\/a> on regulating cryptocurrencies MiCA<\/span>. The final version did not include an amendment prohibiting mining<\/a> under the Proof-of-Work consensus algorithm.<\/p>\n
Earlier in the same month, the European Parliament backed<\/a> mandatory verification of users of non-custodial crypto wallets. The amendments are provided for in the regulation governing information exchange between counterparties.<\/p>\n
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