All articles tagged with #privacy coins
The article discusses the rise of crypto-related kidnappings and attacks, highlighting cases involving high-profile victims and perpetrators with cryptocurrency backgrounds, and emphasizing the challenges in legal protections and law enforcement responses across different countries.
The EU is set to introduce new anti-money laundering regulations that will impact the cryptocurrency industry, including banning privacy coins, restricting self-custody wallet payments, and increasing tracking of crypto transfers. The regulations are expected to work alongside the Markets in Crypto-Assets regulation, with the main challenge being to ensure regulatory clarity and prevent overburdening crypto enterprises. The regulations also aim to crack down on anonymising tools and impose extra due diligence measures for firms handling crypto transactions under €1,000, with the goal of preventing terrorist organizations from using crypto to finance their operations.
Two crypto provisions addressing anti-money-laundering concerns have been dropped from the joint version of the National Defense Authorization Act, a military-funding bill in the U.S. The provisions aimed to establish an anti-money-laundering examination standard for crypto assets and analyze the use of privacy coins and anonymity-enhancing technologies. The House of Representatives version of the bill did not include these provisions, and their removal ends the backdoor effort to pass digital-asset rules this year. However, a separate bill has been introduced to expand U.S. sanctions rules on parties facilitating financial transactions with terrorists, particularly foreign digital asset companies.