Topic: This is very bad for the European crypto community! (Read 1055 times)
I was absolutely disgusted to see that the U.K's AMLD5 policy also wants to forbid publishing open source (non custodial) software.
What will this mean in reality? Will every exchange based in Europe have to send information about their exchange users and their transactions to a centralized authority?
have they not done that already?
its not a positive sign no matter which angle you will look at it. its objective is for AML. its the implementation of these law that we'd get in trouble. its not like they will investigate first before freezing an account, its the other way round. and its not just about how much you have but probably where you are from as well. they do have the data of those who submitted KYC. nothing you can do if the exchange says you have a coin that come from somewhere and freeze your account.
What will this mean in reality? Will every exchange based in Europe have to send information about their exchange users and their transactions to a centralized authority?
Won't it be good for the market ?
This way the whales and the companies won't be able to change the price so soon , this will inturn increase the stability in their respective country , therefore it does have a good side too and trust me the minimum amount would be no less than 2000$ therefore people would be good to go because all I know is even if you are not allowed to withdraw you could still use an inbuilt wallet for the trading and then keep that money in the wallet itself.
This way the whales and the companies won't be able to change the price so soon , this will inturn increase the stability in their respective country , therefore it does have a good side too and trust me the minimum amount would be no less than 2000$ therefore people would be good to go because all I know is even if you are not allowed to withdraw you could still use an inbuilt wallet for the trading and then keep that money in the wallet itself.
Europe is really considered the largest in terms of money laundering in cryptocurrency, and this is a fact. More and more attention is being paid to security on their part, and cryptocurrency can do nothing. Need to protect your rights.
I would not say that the establishment of rules to counter the laundering of dirty money and the fight against the financing of terrorism in Europe is bad. Cryptocurrency will go on the territory of states according to the rules established by them, or will not go at all. This has long been known. In addition, the rules introduced are not so bad. Cryptocurrency users will only pass KYC checks if transactions exceed one thousand euros. Now we are required to undergo a KYC audit in almost all cases if we participate in ICO bounty campaigns, even if we get several dollars for our efforts.
actually the existing regulations make crypto users more structured there, because a country makes regulations because of problems that occur. and in the data collection system it might also be useful, because the data written can be used to create data structures about the economy there
I would not say that the establishment of rules to counter the laundering of dirty money and the fight against the financing of terrorism in Europe is bad. Cryptocurrency will go on the territory of states according to the rules established by them, or will not go at all. This has long been known. In addition, the rules introduced are not so bad. Cryptocurrency users will only pass KYC checks if transactions exceed one thousand euros. Now we are required to undergo a KYC audit in almost all cases if we participate in ICO bounty campaigns, even if we get several dollars for our efforts.
New anti-money laundering (AML) regulations are coming into force by January 10 in Europe. The rules, which address cryptocurrency companies for the first time, look set to have a large impact on the industry.
The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.
Source link here
It means that they're clearly in a war against decentralization.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.
Source link here
It means that they're clearly in a war against decentralization.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
Corrupt EU was expected to be strict against Bitcoin as they always strive for centralization of power in the hands of few and they treat civilians as slaves. If anyone is judging the US political system, he should take a look at Europe first. The EU is not a democracy and does not promote any democratic values. Compared to Trump's America, the EU looks closer to a dictatorship. National votes does not matter as any government has limited decision making, dictaded by the EU directives (mostly what Germany decides). Meanwhile there are trillions of European funds laundered and transfered in accounts at the Cayman Islands and Panama, all wired through the corrupt centralized banking system.
Of course they wouldn't want this information recorded at an open source distributed ledger and available for anyone to observe. Quite a lot of corrupt politicians would get into big trouble. So they will try to keep their shady business running and keep the population under financial control. They will try to limit access to trading Bitcoin and will demand KYC so they will keep any control they can on our finances.
What they are targeting is basically the economic freedom Bitcoin is providing.
Asian become most friendly for crypto community because almost in countries from Asian accepted bitcoin as legal transaction payment and allowed to make bitcoin become investment assets for investing, most transaction bitcoin every day come from Asian country like from China, Japan and Indonesia. But still less country want to accept bitcoin as legal currency payment transaction.
Credentials are constantly being collected. They're constantly asking for our credentials. Binance Dex opens. There are many decentralized exchanges. People may soon move their investments to decentralized Exchange. I don't want to distribute my credentials.
Of course, I understand your opinions and many cryptocurrency users support just such a point of view, when all users can be anonymous, so as not to provide their passport data anywhere. But for some reason it seems to me that the situation is such that the cryptocurrency will be recognized all over the world only if it has not only stability in price, but also real control by special structures, where KYC will be initially provided for users. 
Credentials are constantly being collected. They're constantly asking for our credentials. Binance Dex opens. There are many decentralized exchanges. People may soon move their investments to decentralized Exchange. I don't want to distribute my credentials.
Let's see how they will going to handle it. I think they are just targeting and trying to prevent money laundering but doesn't mean they are going against decentralized cryptocurrency. Because when adopting and accepting crypto, they're expecting to encounter more cyber crimes so they have to be prepared about it.
Governments have no other option but to bring strong regulations for cryptocurrencies. The governments have recognized that this is the right time to bring regulations before it gets too late. All crypto enthusiastic should be ready for such regulations that are yet to come from government bodies.
There’re two ways to look at this news one view is that it’ll force people to avoid bitcoins because of KYC hassles, second view is that EU has recognised crypto’s as an currency and this may pave the way for legalising it. As the article states many companies are shutting down, and many are making sure they comply with the rules hence only by February or March will we will come to know it’s real impact on bitcoin prices.
How is "know your customer" process going to be such a hassle for people that they will avoid using bitcoin? You are using fiat currency in your daily life right? I also believe you have a bank account that you use almost every day. Before you were able to open a bank account you had to submit your documents which had your identity and go through the full KYC process, right? I don't think the process was a hassle for you and you still did it. You also had to go through the same process before starting your job or did you avoid it just because of verification "hassle"? I think the use of KYC is not a big problem. the important thing is that cryptocurrency remains legal in Europe. I think it's natural that the government will make a regulation and tighten crypto transactions because indeed all this time we often hear the news that cryptocurrency is often used for criminal activities such as money laundering and terrorist financing. maybe with this regulation can reduce money laundering using crypto.
actually KYC is also used to make the company still look pure, that they have customers who are truly genuine. and I think KYC is indeed needed the most important place used for KYC can protect our data from data manipulation 
I think the use of KYC is not a big problem. the important thing is that cryptocurrency remains legal in Europe. I think it's natural that the government will make a regulation and tighten crypto transactions because indeed all this time we often hear the news that cryptocurrency is often used for criminal activities such as money laundering and terrorist financing. maybe with this regulation can reduce money laundering using crypto.
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New anti-money laundering (AML) regulations are coming into force by January 10 in Europe. The rules, which address cryptocurrency companies for the first time, look set to have a large impact on the industry.
It means that they're clearly in a war against decentralization.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
No buddy, you got all wrong and the last time I checked the EU are crypto friendly countries but the 5AMLD was implemented because they are taking an enormous step in making crypto a legal tender which the banks and local store owners will accept. In other to make sure people don't abuse the system 5AMLD was figure as the right solution. It means that they're clearly in a war against decentralization.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
So, what is your suggestion exatcly? Leave/quit from Bitcoin/crypto investment now?
Bitcoin is based on nothing, and its value will eventually go to near zero once market psychology changes.
If I owned bitcoin now, I would sell and buy Gold. Remember this suggestion and save it for the future, one day a lot of people here will REALLY REALLY wish they had taken my advice 😭😭😭😭
Hard Facts
I don't see anything bad for the crypto community in general and the European cryptocurrency community in particular. Clearly, anti-money laundering regulations are only aimed at criminals, not genuine investors.
Anti-money laundering regulations will make the crypto market cleaner, thereby creating confidence for new investors.
Anti-money laundering regulations will make the crypto market cleaner, thereby creating confidence for new investors.
I have said this before that the government does not like something they have no control over, they prefer to have a complete control over everything and that's what they are planning to do now. They are only going to be able to control centralized exchanges. Anyone that's making use of Centralized exchanges will always be opted to fill a KYC form when they want to register.
But, for a decentralized exchange you will not be needing all that, you just sign up and start trading. A lot of people prefer to make use of CEX because they are very easy to use, just like Coinbase, whereas DEX are hard to use.
But, for a decentralized exchange you will not be needing all that, you just sign up and start trading. A lot of people prefer to make use of CEX because they are very easy to use, just like Coinbase, whereas DEX are hard to use.
I know a lot of people have a lazy attitude towards money nowadays in general. Everyone wants to make fast money on the internet, but people want to avoid their duties and responsibilities as adult and mature citizens. We do not want to be controlled by the powers that be and forever live in a debt slavery environment which is the current financial situation of Billions on this planet, but maybe these new KYC/AML may be a good and positive thing, in a way whereby there will be less scammers getting away with just stealing many people's hard earned money, as has happened in this Industry now for quite some time, so it has its pluses as well no doubt. We should welcome legislation as a positive directive to making Bitcoin and Cryptocurrencies, legal in Europe.
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This is of no surprise and it is something expected from government officials. Why would government let anonymous crypto operate in the their country that would give them zero benefit rather create problems for them. If you think this is problem then we all must be ready for this problem.
So, what is your suggestion exatcly? Leave/quit from Bitcoin/crypto investment now?
Bitcoin is based on nothing, and its value will eventually go to near zero once market psychology changes.
If I owned bitcoin now, I would sell and buy Gold. Remember this suggestion and save it for the future, one day a lot of people here will REALLY REALLY wish they had taken my advice 😭😭😭😭
Hard Facts
Well, its somehow really a threat for crypto community. Hopefully the regulation is fair and just. The freedom to transact may be hampered but hopefully only those with bad intentions. They should set rules that will not completely change the process at all. KYC should be more on whom you send crypto or your purpose of receiving and sending it to someone. AMLA is a very good security for us. However, they must also consider that we are trying to eliminate charges and shortened processes to have timely and efficient service.
I think it is fair and just despite of what the government set it is still a good way to make those scammers to stop from sending a bulk of crypto into the exchange. And it is somehow helpful to delay or trace who were the people are laundering money. 
Anti-money laundering (AML) regulations may sound bad to cryptocurrencies but it is very important to stop money laundering that can be used in any terrorist activity. Some regulations is really required to control all these things. There will be not illegal transaction after the implementation of such bill and I think it is required in current situation. This is world is full of criminals, we need to get transparent to every financial activity we do.
Centralization kills crypto, I think many here understand this, and hope that many who so not think soon will understand this.
If the regulation only implies going through a KYC procedure I am ok with it as I have nothing to hide, but they should rise the penalties for misusing the personal data we provide to these companies and the procedures they need to follow when collecting data for KYC. As a client how am I ensured that the data I provide don't get into the wrong hands?
In the first place they don't need to make something strict to happen with their platform with regards to their KYC process, because it is in fact a good thing to consider that many countries do have their laws concerning identities and personal information. A false identity could be raise if someone isn't complying with the rules and regulation of the platform. In addition, there are many privacy laws concerning the proper and improper use of information especially if they aren't using real identities.
Well, its somehow really a threat for crypto community. Hopefully the regulation is fair and just. The freedom to transact may be hampered but hopefully only those with bad intentions. They should set rules that will not completely change the process at all. KYC should be more on whom you send crypto or your purpose of receiving and sending it to someone. AMLA is a very good security for us. However, they must also consider that we are trying to eliminate charges and shortened processes to have timely and efficient service.
New anti-money laundering (AML) regulations are coming into force by January 10 in Europe. The rules, which address cryptocurrency companies for the first time, look set to have a large impact on the industry.
The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.
Source link here
It means that they're clearly in a war against decentralization.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.
Source link here
It means that they're clearly in a war against decentralization.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
There’re two ways to look at this news one view is that it’ll force people to avoid bitcoins because of KYC hassles
, second view is that EU has recognised crypto’s as an currency and this may pave the way for legalising it. As the article states many companies are shutting down, and many are making sure they comply with the rules hence only by February or March will we will come to know it’s real impact on bitcoin prices.
i am still believe that this will not bring big downtrend to crypto as we are getting closer to Halving and hope this will never hindered the growth we all waited for.
I know bitcoin can be money laundering because when some one get cases with corruption and make bitcoin become their money laundering by sending their money become bitcoin assets, look with bitcoin way how to deposit where needed KYC and bitcoin platform can detected with people use bitcoin for money laundering and can know who are they.
New anti-money laundering (AML) regulations are coming into force by January 10 in Europe. The rules, which address cryptocurrency companies for the first time, look set to have a large impact on the industry.
The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.
Source link here
It means that they're clearly in a war against decentralization.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.
Source link here
It means that they're clearly in a war against decentralization.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
now, of course, we are no longer surprised to hear about KYC on cryptocurrency because as far as we see today some governments in their countries have confirmed to verify KYC or AML for every crypto exchange user with the reason to avoid fraud and money laundering.
However, but I think this is not one of the reasons for the government to combat cryptocurrency decentralization but only to increase security for each user.
Quite sad, I hope this will start the rise and use of decentralized exchanges.
If the regulation only implies going through a KYC procedure I am ok with it as I have nothing to hide, but they should rise the penalties for misusing the personal data we provide to these companies and the procedures they need to follow when collecting data for KYC. As a client how am I ensured that the data I provide don't get into the wrong hands?
I know a few people with businesses registered in Estonia and they were forced to do KYC before. If the new regulations focus on strengthening the KYC rules for most EU companies it won't change a thing because they already have to do it and had to do it all throughout the 2019.
Don't panic, if you were able to find EU exchanges without KYC it was only because you were exchanging small amounts of money. Above €20k there's basically no way around KYC crypto or not.
That's right, this does not really sound good for crypto projects and exchanges based in European countries but i think any serious industry can relocate to places where crypto activities are tolerated. For instance i know some projects which moved from China to other countries when China made a whole number of restrictions regarding cryptocurrencies and its activities.
New anti-money laundering (AML) regulations are coming into force by January 10 in Europe. The rules, which address cryptocurrency companies for the first time, look set to have a large impact on the industry.
The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.
Source link here
It means that they're clearly in a war against decentralization.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
The governmemt has always been against decentralization because it makes them look powerless and less manipulative of the things happening on their country. We should not be surprised that much anymore that they are making ways to control crypto, which I think is not possible yet, cause they are all about greed as always. It would make a huge impact if ever the European crypto community would be manipulated since the continent is known for its wealth and is a very high contributor in the crypto market. The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.
Source link here
It means that they're clearly in a war against decentralization.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
If you look in the positive direction, the anti-money laundering regulations are not detrimental to the cryptocurrency market, they are just trying to fight criminals who use this market to do bad things.
Anti-money laundering regulations show that the European government has a strong interest in cryptocurrencies, it's time for governments around the world to have a more positive view of the market.
If we do not launder money or evade taxes then we have no problem with anti-money laundering regulations.
Anti-money laundering regulations show that the European government has a strong interest in cryptocurrencies, it's time for governments around the world to have a more positive view of the market.
If we do not launder money or evade taxes then we have no problem with anti-money laundering regulations.
If the regulation only implies going through a KYC procedure I am ok with it as I have nothing to hide, but they should rise the penalties for misusing the personal data we provide to these companies and the procedures they need to follow when collecting data for KYC. As a client how am I ensured that the data I provide don't get into the wrong hands?
I am really optimistic about that new law anyway....
Rather prefering having a legal activity and my country taking legal actions on cryptocurrencies and allowing them for my personal usage than becoming a banned country at first place.
Also increases security across the crypto network and prevents bad habbits from illegal activities.
Meaning more countries will think about it and maybe adopting = having it legalized.
I really don't care if they know me more (KYC). My addresses will still have origins unknown (from where the money come from).
Rather prefering having a legal activity and my country taking legal actions on cryptocurrencies and allowing them for my personal usage than becoming a banned country at first place.
Also increases security across the crypto network and prevents bad habbits from illegal activities.
Meaning more countries will think about it and maybe adopting = having it legalized.
I really don't care if they know me more (KYC). My addresses will still have origins unknown (from where the money come from).
This might be one of the best answers for those who want legality for cryptocurrency from a country. On the other hand, there are those who feel it can change freedom from decentralization, as explained by the OP.
Each of these policies has their advantages and disadvantages. Don't be bothered, as long as we can still use cryptocurrency well, even though there are certain restrictions in some countries, for example, it is prohibited to be used as a means of payment, etc ... the important thing is that we can each carry out other beneficial activities such as trading, mining, investing, hunting campaign, etc.
Each of these policies has their advantages and disadvantages. Don't be bothered, as long as we can still use cryptocurrency well, even though there are certain restrictions in some countries, for example, it is prohibited to be used as a means of payment, etc ... the important thing is that we can each carry out other beneficial activities such as trading, mining, investing, hunting campaign, etc.
It's quite contradicting is some point, they want to lessen the money laundering activities in cryptocurrency, would it be better if we'll be happy about it? Rather than to think how bad it could be for the sake of decentralization. Maybe, they will just provide provisions to the exchanges and not particularly to compromise the cryptocurrency's system at all. A regulation for companies that they could control would be enough, what they should avoid is to make their actions personal to us that our daily activities will be affected too much.
Regulators do what regulators do, make stupid regulations that regulate people who wants to be regulated. Did regulations stop internet piracy? No,
it just got worst when the regulators got involved. They took one Torrent site down and 20 popped up in it's place. What do you think will happen
when they start going up against Crypto currencies? You will see more anonymous (decentralized) technologies and it will even be more difficult to
take them down. Making something illegal, does not stop it, it just gets more attention and more people using it.
it just got worst when the regulators got involved. They took one Torrent site down and 20 popped up in it's place. What do you think will happen
when they start going up against Crypto currencies? You will see more anonymous (decentralized) technologies and it will even be more difficult to
take them down. Making something illegal, does not stop it, it just gets more attention and more people using it.
Decentralization is the basis of crypto, but unfortunately not many people understand it...
It's understandable, many people still want centralization which is one is with the control of their assets. Most people who are in the older generation are mostly scared of the adaption of new technology and the change, they might be aware that they might encounter the danger they expect but the reality is they only need proper education on this kind of technology. In the future, crypto might accept by most of the people living in this current generation and it will be passed into the future generation that will make crypto decentralization possible in every aspect. New anti-money laundering (AML) regulations are coming into force by January 10 in Europe. The rules, which address cryptocurrency companies for the first time, look set to have a large impact on the industry.
The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.
Source link here
It means that they're clearly in a war against decentralization.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.
Source link here
It means that they're clearly in a war against decentralization.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
There’re two ways to look at this news one view is that it’ll force people to avoid bitcoins because of KYC hassles, second view is that EU has recognised crypto’s as an currency and this may pave the way for legalising it. As the article states many companies are shutting down, and many are making sure they comply with the rules hence only by February or March will we will come to know it’s real impact on bitcoin prices.
I'd rather look at it as a positive one. There have been attacks on the existence of bitcoin and crypto around the world.
There are both type of people, one who are okay with KYC and one who not who uses bitcoin and other crypto.
A general trader and investor has nothing to hide from the authorities and the involvement would restrict the fraud in crypto industry.
Exactly, these regulations will only help and prevent frauds, thief, money laundering and many other crypto crimes. If regular users do nothing wrong or illegal, there's nothing to worry about. I understand people who say, that the point of cryptocurrencies is decentralization and anonymity, but one the other hand, lack of any regulations and security system which leaves much to be desire, are the main reason of why the are so many criminals using Bitcoin etc.
Decentralization is the basis of crypto, but unfortunately not many people understand it...
New anti-money laundering (AML) regulations are coming into force by January 10 in Europe. The rules, which address cryptocurrency companies for the first time, look set to have a large impact on the industry.
The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.
Source link here
It means that they're clearly in a war against decentralization.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.
Source link here
It means that they're clearly in a war against decentralization.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
There’re two ways to look at this news one view is that it’ll force people to avoid bitcoins because of KYC hassles, second view is that EU has recognised crypto’s as an currency and this may pave the way for legalising it. As the article states many companies are shutting down, and many are making sure they comply with the rules hence only by February or March will we will come to know it’s real impact on bitcoin prices.
I will take the 2nd view.
Create optimism with pessimism. Right.
If only people will question it. Asking themselves, Why?
Is there something wrong with bitcoin or other crypto currencies?
That will trigger something and we might see them here asking those questions afterwards.
Thanks though for bringing that up.
You want adoption? Surrender to regulation. If you don't, then adoption becomes difficult to implement. Because the government is there, and what the government wants, is what would happen. You cannot abolish the government either, since we'll all be just chaotic.
It does give us some benefits still. For one, it gives us assurance, when our account gets hacked on the exchange, we could file a complaint and get our money back (since addresses are traceable in the blockchain, and with KYC, could track the hacker).
The EU implements 5AMLD in the framework of their efforts to emphasize the obligation to encourage cashless payments in national benchmarks, if not like this then adoption will move towards crypto more sharply and out of what the government planned.It does give us some benefits still. For one, it gives us assurance, when our account gets hacked on the exchange, we could file a complaint and get our money back (since addresses are traceable in the blockchain, and with KYC, could track the hacker).
You are right about adoption and regulation, but at least the good and bad impacts will still be experienced by industry providers first, we as customers will continue to adjust.
Yeah in the end we can only follow the regulations made by the government without doing anything. As you say "as customer will continue to adjust", where we inevitably have to accept the new regulations, whether you agree or not with KYC but that's the fact.
Actually I don't mind all this, including KYC which might be implemented in the future. But I only object when decentralized crypto will be fully regulated like taxation, etc. Even though I only want freedom of transactions between citizens of the world without taxes, without complicated government regulations.
This is only a big deal because people are using exchanges to convert their coins into fiat. And of course governments have the right to control fiat and how it is used.
If we had real adoption where you could buy stuff with cryptocurrency, pay your rent with it and so on, you could by-pass the exchanges altogether.
We're looking at a failure to get adoption because of people's obsession with converting their coins into fiat.
If we had real adoption where you could buy stuff with cryptocurrency, pay your rent with it and so on, you could by-pass the exchanges altogether.
We're looking at a failure to get adoption because of people's obsession with converting their coins into fiat.
You want adoption? Surrender to regulation. If you don't, then adoption becomes difficult to implement. Because the government is there, and what the government wants, is what would happen. You cannot abolish the government either, since we'll all be just chaotic.
It does give us some benefits still. For one, it gives us assurance, when our account gets hacked on the exchange, we could file a complaint and get our money back (since addresses are traceable in the blockchain, and with KYC, could track the hacker).
The EU implements 5AMLD in the framework of their efforts to emphasize the obligation to encourage cashless payments in national benchmarks, if not like this then adoption will move towards crypto more sharply and out of what the government planned.It does give us some benefits still. For one, it gives us assurance, when our account gets hacked on the exchange, we could file a complaint and get our money back (since addresses are traceable in the blockchain, and with KYC, could track the hacker).
You are right about adoption and regulation, but at least the good and bad impacts will still be experienced by industry providers first, we as customers will continue to adjust.
You want adoption? Surrender to regulation. If you don't, then adoption becomes difficult to implement. Because the government is there, and what the government wants, is what would happen. You cannot abolish the government either, since we'll all be just chaotic.
It does give us some benefits still. For one, it gives us assurance, when our account gets hacked on the exchange, we could file a complaint and get our money back (since addresses are traceable in the blockchain, and with KYC, could track the hacker).
It does give us some benefits still. For one, it gives us assurance, when our account gets hacked on the exchange, we could file a complaint and get our money back (since addresses are traceable in the blockchain, and with KYC, could track the hacker).
From what I see in the article, it's indeed a bad and very unfair move. Fortunately, my country is not in the EU, although it is on its way there... I think it's unfair if people have to provide ID any time they want to exchange cryptos, because that's not how it works with fiat currency exchanges in the EU.
It is really unfortunate we will be going through tough KYC policies to prevent anti money laundering through these exchanges but we all expected this to happen one day because we all know we need to undergo the same procedure with fiat currency and it was a matter of time that these policies will be enforced to crypto exchanges too, the initial few years were the dream period and now we have to deal with the rules and regulations and there is no way we can bypass those restrictions. 
New anti-money laundering (AML) regulations are coming into force by January 10 in Europe. The rules, which address cryptocurrency companies for the first time, look set to have a large impact on the industry.
The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.
Source link here
It means that they're clearly in a war against decentralization.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
From what I see in the article, it's indeed a bad and very unfair move. Fortunately, my country is not in the EU, although it is on its way there... I think it's unfair if people have to provide ID any time they want to exchange cryptos, because that's not how it works with fiat currency exchanges in the EU. In Hungary, for example, one can exchange one type of fiat for another without providing any ID if the sum is up to 300 EUR or so. Yes, it's a small amount, but transactions like that are indeed too small for serious money laundering, so it's a waste of time and resources to investigate such acts. If a person is exchanging a lot of money, in the other hand, I think it's fair to require not only ID but also proof of source of this money. The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.
Source link here
It means that they're clearly in a war against decentralization.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
They are enforcing KYC AML and they will be monitoring dubious transaction to avoid fraud and other illegal transaction, it is obvious that the government will find a way to control the market and now the EU market will be implementing it in exchanges.Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
There is nothing in the article you provided mentioned about any limits, if you provide all the verification details then you wont be facing any issues as long as you are doing everything legally.It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
Freedom does not mean that you have to encourage illegal activities too. 
I don't think that it will be a big problem when the European governments will try to make some regulations in it, it's obviously because of the money laundering fact, otherwise I think people will use their Bitcoin freely without any kind of bad restrictions, we'll wait and see what will happen in January thought.
The lawmakers kids, or grandkids at latest, will undo whatever they're doing now anyway.
I suppose lawmakers could stop having kids....
I suppose lawmakers could stop having kids....
It's just inevitable. Government want to prevent money laundering which means they want to increase tax income but also people want full decentralization over cryptocurrency. In the other hand if there's no such regulation the criminials will take advantage of cryptocurrency by laundering money, even hackers could easily cash out the stolen fund without being prevented by KYC. It's just this anti money laundering thing seem worth it with all its disadvantages and advantages.
That was anticipated that the Decentralization system would face a legal identity, for the time being, I think that is the moment, It's pretty sure that no government will allow easily because of having own central bank and centralized financial platform where the government has to control everything, That is why decentralization system will face a lot of trouble in order to run on the current context, Obviously, This type of step must hinder the further development of cryptocurrency but it's the reality. no government will take such type of risk towards people and their financial aspect.
I think with this news it will have a negative or positive impact depending on the user. if I am in the presence of regulations and the use of KYC I will feel happy meaning that bitcoin and altcoin have been recognized by the state and the transaction process will be safer. and we can use our bitcoin to shop legally and I don't mind using KYC when trading crypto.
for crypto users who don't like using KYC then this will be bad news for him.
for crypto users who don't like using KYC then this will be bad news for him.
At least they are regulating it and not banning it. Our friends from European countries can testify if this is totally gonna make them difficult to use bitcoin in their countries. But as long as it's not banned, I think that's fine.
We see this coming and the gov't can't resist not to touch the crypto community because there's something that they could benefit from it. I think they care for the people and this doesn't mean war.
We see this coming and the gov't can't resist not to touch the crypto community because there's something that they could benefit from it. I think they care for the people and this doesn't mean war.
Already pass with bitcoin member with KYC and does look not have to worry with bitcoin become illegal transaction by every one because have know who use bitcoin, but many institution and community want to make bitcoin have bad effect with saying bitcoin using for black market and have bad reputation for the future with bitcoin pirce.
It is an objective fact that we cannot deny that bitcoin and other cryptocurrencies have been used in black markets or illegal transactions. We cannot deny, so, with the newly issued regulations, it will minimize the level of shadowing in Bitcoin transactions. Clearly, we can see that it is not a battle against decentralization, it only helps bitcoin better in the future. My opinion
They've been gathering KYC already so if you have submitted in the past, there is nothing left to hide anyway. EU are just asking for KYC, they not banning BTC. But its still going to affect prices. Its what is happening, the prices are stumbling in the dark while whenever there are good news the prices are going to rise up fast as how it stumble.
I don't see it as a war though. It's not like they are banning cryptocurrency altogether, they are just making some regulations to avoid money laundering and potential scams. The businesses still have the ability to operate if they can comply to the new law. I mean, this new laws would also mean that people could be sure of something if they are legit and their government recognized the business.
Bitcoin will be getting a LOT of bad news, this is just the beginning !!!
Don't judge without strong evidences. You seems like spreading FUDs if you comment like this. If you know much about the future Bitcoin, let us know what you already learned. -snip- Just look price collapses as we are seeing now, -snip-
It already happended many times. The big declines in price mustn't the evidence of bad Bitcoin future. How long have you worked in crypto space? -snip- I wonder how long it takes for people here to realize things are not going to work out like they think...
So, what is your suggestion exatcly? Leave/quit from Bitcoin/crypto investment now? Bitcoin will be getting a LOT of bad news, this is just the beginning !!! Just look price collapses as we are seeing now, that will feed on itself as people bail out on Bitcoin. I wonder how long it takes for people here to realize things are not going to work out like they think...
Hard Facts
There’re two ways to look at this news one view is that it’ll force people to avoid bitcoins because of KYC hassles, second view is that EU has recognised crypto’s as an currency and this may pave the way for legalising it. As the article states many companies are shutting down, and many are making sure they comply with the rules hence only by February or March will we will come to know it’s real impact on bitcoin prices.
In effect, regulations means recognizing something and this is what this new law will be doing to cryptocurrency. As long as something is a business (and I guess nobody will argue that cryptocurrency is not a business) we should be expecting more and more laws to cover the same industry, and we should not be complaining that much because almost all industries are being regulated there is no exemption here, heck there are even laws covering religious organizations. In the end, only those fit and legit will survive this onslaught and those operations which are shady and not doing things the right way will be flushed out. Let's go with the flow, resisting this law will not be good for the cryptocurrency industry.
It means that they're clearly in a war against decentralization.
Though it was named as an "Anti Money Laundering Directive" and not "Anti Bitcoin Policy", the crypto community is still suffering because of these strict regulations. I'm eager to understand their side, that they only do it to avoid any mischiefs but at soke point I can't rid of my mind that they're slowly killing crypto. So I agree with you somehow, they are now starting a war against it 
. I see two sides of the story in here, one is good and one is bad. It's good in a sense that evil doers will now have a reason to stop their bad deeds once and once and for all (unless they want to get jailed) however it seems that the crypto community are choked. Now decide which side weighs greater.
New anti-money laundering (AML) regulations are coming into force by January 10 in Europe. The rules, which address cryptocurrency companies for the first time, look set to have a large impact on the industry.
The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.
Source link here
It means that they're clearly in a war against decentralization.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.
Source link here
It means that they're clearly in a war against decentralization.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
There are many reason why countries will be against decentralization.
don't worry, in my opinion it's only a part of European countries, not all of it. And also I think it's just bluffing ... even if later it is true, then we will still support bitcoin .. !!
New anti-money laundering (AML) regulations are coming into force by January 10 in Europe. The rules, which address cryptocurrency companies for the first time, look set to have a large impact on the industry.
The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.
Source link here
It means that they're clearly in a war against decentralization.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.
Source link here
It means that they're clearly in a war against decentralization.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
oh i am not afraid about the euro banking cartel,
they are after all unable to manage loaning nowadays. and are unable to invest into the future and security of the europeans, by finally closing the border the the enslavement by the neverendingly broken third world.
These new regulations already forced to close some services which works as hosted wallets, money transfer services and etc.
It's understandable thing looking from governments perspective. There is big money moving in crypto world and it's normal that they want to control everything.
But for us - crypto users, it's sad and worrying thing. Crypto is place where we had some privacy and anonimity and now they want to took it from us. KYC on exchanges already become common and understandable thing. So, we will have to get use to see it on other type of crypto services.
Interesting, how these regulations will affect mixers. As I understand, they are one of main targets of these regulations. Does it means that Chipmixer & co will stop working in EU?
It's understandable thing looking from governments perspective. There is big money moving in crypto world and it's normal that they want to control everything.
But for us - crypto users, it's sad and worrying thing. Crypto is place where we had some privacy and anonimity and now they want to took it from us. KYC on exchanges already become common and understandable thing. So, we will have to get use to see it on other type of crypto services.
Interesting, how these regulations will affect mixers. As I understand, they are one of main targets of these regulations. Does it means that Chipmixer & co will stop working in EU?
They've been gathering KYC already so if you have submitted in the past, there is nothing left to hide anyway. EU are just asking for KYC, they not banning BTC. But its still going to affect prices. Its what is happening, the prices are stumbling in the dark while whenever there are good news the prices are going to rise up fast as how it stumble.
Why do you look.at this as a negative news? In fact this is just the opposite and it's not aimed against cryptocurrencies and its users and especially doesn't anything to do with cemtralization.
Anti money laundering measures will help to establish Bitcoin and other cryptocurrencies as a safe and legal payment method, not some illegal stuff that are using only criminals for their illegal activities. Also, KYC is positive for Bitcoin users because it helps against abuse and fraudulent activities.
So, this is not negative news for European crypto community but positive one and users in Europe will have advantage because they will be legaly protected.
I wish that people who use Bitcoin were more educated then we would have less fake news and conspiracy theories that spread unjustified fear among users.
Anti money laundering measures will help to establish Bitcoin and other cryptocurrencies as a safe and legal payment method, not some illegal stuff that are using only criminals for their illegal activities. Also, KYC is positive for Bitcoin users because it helps against abuse and fraudulent activities.
So, this is not negative news for European crypto community but positive one and users in Europe will have advantage because they will be legaly protected.
I wish that people who use Bitcoin were more educated then we would have less fake news and conspiracy theories that spread unjustified fear among users.
New anti-money laundering (AML) regulations are coming into force by January 10 in Europe. The rules, which address cryptocurrency companies for the first time, look set to have a large impact on the industry.
The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.
Source link here
It means that they're clearly in a war against decentralization.
The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.
Source link here
It means that they're clearly in a war against decentralization.
Hmm, I forgot about this. But actually I am not convinced by the ways it will affect me.
But if I read it through I tend to believe you either want to spread FUD, either over-reacting. It's actually a positive news that crypto currencies have to be treated by the businesses in the same way as money.
We want crypto to be recognized as money, but we cry out loud when they try to put crypto under the same rules as money. Is that normal?!
AML regulations does not necessarily mean that they are against cryptocurrencies. What they are against are illegal things involving cryptocurrencies and not cryptocurrencies per se. Not that I'm trying to justify nor defend regulations, but in a market wherein almost everyday, hacks, thefts and other illegal activities are happening, regulations would definitely help. Besides, if this promotes growth on all fronts of cryptocurrency, why try to see it in a bad light?
Edit: pre-emptively hit post button.
Edit: pre-emptively hit post button.
Exactly! I voice the same opinion about 5th Anti Money Laundering Directive. In 2019, we have come across numbers of scam attempts which siphoned out billions of dollars from commoner like us! Majority of the scammers use various techniques like wasabi wallet and bitcoin mixers to launder that huge amount of money which took full opportunity to the pseudo anonymous nature of bitcoin and other cryptos! That has to stop at any cost!
If this AML directive forces big players to comply with KYC policy and on-time reporting of unusual events to the enforcement agencies, such incidents may reduce and probably make the cryptos safer for legit users!
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
What are you talking about, crypto was never dominant, it was never even close to being noticeable, there's nothing to take over.
And as for regulations, the users can choose to ignore them at their own risk, they can't stop Bitcoin's protocol, and they will never be able to, and I'm sure they won't even try to do it, since it would be just a waste of resources.
AML regulations does not necessarily mean that they are against cryptocurrencies. What they are against are illegal things involving cryptocurrencies and not cryptocurrencies per se. Not that I'm trying to justify nor defend regulations, but in a market wherein almost everyday, hacks, thefts and other illegal activities are happening, regulations would definitely help. Besides, if this promotes growth on all fronts of cryptocurrency, why try to see it in a bad light?
Edit: pre-emptively hit post button.
Edit: pre-emptively hit post button.
New anti-money laundering (AML) regulations are coming into force by January 10 in Europe. The rules, which address cryptocurrency companies for the first time, look set to have a large impact on the industry.
The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.
Source link here
It means that they're clearly in a war against decentralization.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.
Source link here
It means that they're clearly in a war against decentralization.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
There’re two ways to look at this news one view is that it’ll force people to avoid bitcoins because of KYC hassles, second view is that EU has recognised crypto’s as an currency and this may pave the way for legalising it. As the article states many companies are shutting down, and many are making sure they comply with the rules hence only by February or March will we will come to know it’s real impact on bitcoin prices.
I'd rather look at it as a positive one. There have been attacks on the existence of bitcoin and crypto around the world.
There are both type of people, one who are okay with KYC and one who not who uses bitcoin and other crypto.
A general trader and investor has nothing to hide from the authorities and the involvement would restrict the fraud in crypto industry.
New anti-money laundering (AML) regulations are coming into force by January 10 in Europe. The rules, which address cryptocurrency companies for the first time, look set to have a large impact on the industry.
The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.
Source link here
It means that they're clearly in a war against decentralization.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.
Source link here
It means that they're clearly in a war against decentralization.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
There’re two ways to look at this news one view is that it’ll force people to avoid bitcoins because of KYC hassles, second view is that EU has recognised crypto’s as an currency and this may pave the way for legalising it. As the article states many companies are shutting down, and many are making sure they comply with the rules hence only by February or March will we will come to know it’s real impact on bitcoin prices.
New anti-money laundering (AML) regulations are coming into force by January 10 in Europe. The rules, which address cryptocurrency companies for the first time, look set to have a large impact on the industry.
The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.
Source link here
It means that they're clearly in a war against decentralization.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
The Fifth Anti-Money Laundering Directive (5AMLD) is set to take full effect in less than a month. It was first detailed in May last year.
Source link here
It means that they're clearly in a war against decentralization.
They are doing whatever it takes to "take over" and make centralized payments dominant once again.
Bitcoin was created for us to have no limits in cross-border payments. Now they're trying to take it away from us, because of KYC. There's very little freedom on how much BTC and altcoins are we gonna withdraw, especially within the European union.
It's just that these lawmakers are doing something to make sure we do not prosper, but only them.
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