Under a package of legislation targeting anti-money laundering, the European Union is building a new regulator that will have direct oversight over crypto businesses
Nothing unexpected really. Of course, the reasons said would be to protect end users from scams. And that will partly get also achieved. This will make some scam businesses no longer have a chance to exist in EU. But of course, the result will be more stupid rules, more KYC, more things that will make bitcoin more appealing for companies and less appealing for the law abiding citizen.
True, that's what their reasons (or excuses?) to impose and mandate another set of KYC. Lol, protecting the consumers but at the back of our mind maybe they want to know everything what their citizens is doing.
But who knows, we as enthusiast did try our best to follow, but for those who are bent of protecting their privacies, maybe there will be another way, circumvent this rules to hide their personal information against the prying eyes of this regulators.
