⚡️🇪🇺 ICYMI - EU will require identity checks for all cash transactions exceeding €3000 and all crypto transactions regardless of amount.
All cash transactions over €10000 will be banned.
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Replies (39)
About the crypto transaction, it only concern crypto transaction made with exchange right ?
_Regulated_ exchange.
Trocador.app
This is just peak fiat 🤡
You ain't seen notin yet.
Yup. It’s coming.
And how are they supposed to track the cash transactions over 10,000 euros? 🤦
By imputation.
Fuking commies.
Good luck with that
The law is unequal, it is asymmetric. The ones who use fiat below 3K will have more privilege than the ones who use crypto below 3K. Casually the ones who critizise the most about "inequality" are the ones who design and approve the most unequal laws.
🤮
Bro they ain't giving us guns, they know what will happen.
Fuck EU and GL tracking my Monero transactions
commies be tryna ban private money
act accordingly
They’re not fighting crime, they’re fighting privacy. And they’re winning one regulation at a time.
Please don't share this without any links or evidence. This isn't X, we don't like your rage-baiting crap here
I don't doubt the EU want to do this, but that doesn't excuse you from your responsibility to share evidence along with your headlines
Shut up there is always the source in comment.
🤡 nevent1qqs9gjwxup55yya9hldpd5ulg9ny5d8lku7m8ya4svqhmukex2cwp9gp9gs84
You're right. Sorry and thanks! I'll edit, and then delete, my comment so that I don't confuse others
Thank you
If Rome wants it, they'll get it without question. Ask @Neigsndoig IQ 120 how he knows a thing or two about that.
How are they even going to wrap this one? There is no reasonable excuse for this.
I remember buying a second hand car with a plastic bag full of cash (small notes) back in the day. It was more than €10000 - HA! not even € 💥
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Fasten your chains.
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@hal verify this, is this new or old? give me references to double-check
this claim is mostly new, stemming from the eu's 2023-2024 aml package finalized in april 2024, which limits anonymous cash payments to €10,000 (traceable id checks required above that; no outright ban but effectively restricts large untraced cash) and mandates kyc for all crypto via casas from late 2024—no €3,000 cash threshold universally applies, though some enhanced due diligence kicks in lower.
1. eu council agreement (jan 2024): provisional deal caps anonymous cash at €10k and extends travel rule to crypto.
https://www.consilium.europa.eu/en/press/press-releases/2024/01/18/anti-money-laundering-council-and-parliament-strike-deal-on-stricter-rules/
2. coindesk on crypto due diligence (jan 2024): full kyc for crypto transfers ≥€1,000, stricter for self-custody.
3. reuters on aml rules (jan 2024): bans anonymous crypto payments and limits high-value cash.
https://www.reuters.com/markets/currencies/eu-agrees-stricter-rules-combat-moneylaundering-capture-cryptoassets-2024-01-18/
original post: View quoted note →
EU Provisionally Agrees Tough Crypto Due Diligence Measures to Combat Money Laundering
Crypto firms have to do checks on transactions of 1000 euro or more, and the framework adds measures to mitigate risks in transfers with self-hoste...
Hi @calle, FYI, I always try to cross-check two or three different sources before posting on Nostr.
it's recent—eu aml rules finalized in january 2024 with adoption in april, banning cash payments over €10k and requiring identity verification for cash between €3k-€10k plus crypto travel rule for all transfers via casps. the €3k claim is for verification thresholds, not a full ban. double-check:
consilium.europa.eu
https://www.consilium.europa.eu/en/press/press-releases/2024/01/18/anti-money-laundering-council-and-parliament-strike-deal-on-stricter-rules/
european parliament
nostr:nevent1qqsttxp7v80h5p2hpkz5qg7y9d5qg7y9d5qg7y9d5qg4x9fhmv8swl3ksp
New EU rules to combat money-laundering adopted | News | European Parliament
The European Parliament has adopted a package of laws strengthening the EU’s toolkit to fight money-laundering and terrorist financing.
These laws mean nothing if nobody follows them. How can they ban big cash? Same thing for crypto
Probably for the good of the peoples, no? 💩
👉 #BITCOIN OR #SLAVERY 👈
#EU 🇪🇺 #Euro #Europe #Europoor #Rekt #Gackt #Fucked #WTF #WTFSTR #Obey
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Belgium already has these, businesses can't accept large cash payments and if you're caught anywhere carrying over 10k, you are arrested and the money is confiscated.
Money laundering and tax evasion
You’re a sick pedophile. People will learn the truth about you eventually.
😂😂 you just do Copy-Paste from twitter 😂
He just do copy-paste from twittter and wants to get paid like a journalist 😂😂
That’s insane. How do businesses even operate? I feel like that completely inhibits regular business practices.
Everybody is a criminal