The European Union will implement new anti-money laundering regulations (Regulation (EU) 2024/1624) starting July 2027, setting a €10k limit on cash payments for goods and services, and requiring customer due diligence and identity verification for transactions of €3,000 and above; at the same time, crypto asset service providers (CASPs) must perform enhanced KYC for incidental transactions of €1,000 and above, and ban anonymous accounts and privacy coin-related services. The regulations also extend to fields such as football clubs, luxury goods trading, investment immigration, and crowdfunding, and strengthen beneficial ownership registration and disclosure requirements. The overall goal is to unify the EU anti-money laundering framework and expand coverage to high-risk industries. (Crypto Briefing)

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AirdropJanitor
· 3h ago
Crowdfunding platforms are also included, and the compliance costs for Startup fundraising are expected to increase again
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LiquidationRaincoat
· 5h ago
The EU's new AML regulations have swept in CASP, football clubs, and luxury goods, with the regulatory scope expanding quite aggressively.
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L2NightCourier
· 5h ago
The €10k cash limit, from now on you'll need to use a card to buy a car.
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SlothSignal
· 5h ago
Privacy coins are directly banned, Monero users are crying their eyes out
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L2NightRunner
· 5h ago
With just 1,000 euros, KYC is required; small transfers are not exempted either. The era of anonymous wallets has ended.
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BorrowedSun
· 6h ago
Implementation is only scheduled for July 2027, leaving the industry a two to three-year buffer period, which is quite considerate.
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