Damien Karem: Amendments to EU law on money laundering do not imply a ban on cryptocurrenciesDamien Carême, a member of the European Parliament and one of the initiators of the bill, told reporters that the proposed amendments are not intended to completely block cryptocurrency transactions. Limits on the amount of a single transaction of 1,000 euros (about $1080) are introduced for anonymous payments.
"We absolutely do not prevent cryptocurrency transactions, but we limit their volume for cases where user identification is not possible," said Damien Karem.
Karem explained to reporters that the provisions of the updated EU law on money laundering will affect the entire spectrum of cryptocurrency transactions, including payments for goods and services in metacities. According to the MEP, it is crucial to prevent "the flow of dirty money, prohibited by banking laws, into other areas of the crypto-economy.
Earlier, the Council of the European Union agreed on an amendment to the data law, according to which smart contracts should provide for the possibility of compulsory termination. By doing so, lawmakers intend to enable data and event management similar to the control of Internet of Things (IoT) consumer electronics software.
