July 20, 2021, 3:02 PM
The European Union is proposing to prohibit anonymous cryptocurrency transactions as part of a broader plan to combat money laundering and terrorism financing.
The EU plan unveiled Tuesday includes a number of proposals to boost the supervision of financial transactions, including creating a new EU body with around 250 staff members to supervise risky financial institutions and prohibiting cash transactions higher than 10,000 euros ($11,800).
In particular, the EU would ban anonymous crypto asset wallets, according to an EU fact sheet, with the European Commission saying that systems like Bitcoin should be governed by the same rules as regular …