Anonymous cryptocurrencies are to be banned

According to the will of the EU Commission, crypto wallets without registration are to be banned. This is to prevent money laundering.
The EU Commission has presented a package of measures to prevent money laundering and terrorist financing, which includes regulations for crypto currencies such as Bitcoin, Ethereum or Ripple. The transfers should be completely traceable, anonymous wallets should no longer exist. Providers of crypto currencies and corresponding service providers should register the identity of the users and their wallet addresses in a state database.

In addition, all cryptocurrency transactions are to be secured and made accessible to government agencies. It is not yet known how existing anonymous wallets should be handled.

A key part of the package is the creation of a new authority to oversee the fight against money laundering and terrorist financing in the EU. Its purpose is to ensure that the private sector applies EU rules correctly and consistently.

It will also help FIUs to improve their analytical capacity on illicit financial flows and make them an essential source of information for law enforcement agencies.