The European Parliament adopted a new package of AML laws that increases reporting requirements for crypto asset service providers (CASPs) when sending and receiving “anonymous” payments between self-hosted wallets and escrow service providers, as well as limits on cash transactions and the establishment of a “central”. surveillance body, which will develop regulatory technical standards.
Under the new laws, EU CASPs will be required to perform customer due diligence on transactions originating from self-custody wallets for transactions below €1,000 and implement additional KYC measures for transactions above €1,000. The laws further regulate the operation of KYC-free custody software service providers and the use of privacy coins, effectively prohibiting CASPs from offering privacy assets. Software and hardware providers with their own custody are exempt from the regulations.
He resolutionadopted by the European Parliament on Wednesday, assumes that “
