Crypto companies urged the European Union to abandon the tightening of regulation

Several representatives of the crypto industry called on European lawmakers and finance ministers to rethink anti-money laundering rules. Writes about it CoinDesk with a link to the letter.

According to the publication, the appeal was signed by scientists, lobbyists and top management of companies such as Ledger, Aave and Blockchain.com. They called the legislative initiatives “burdensome” and “disturbing”.

“European Parliament proposals leading to the disclosure of all transactions and wallet addresses will put every owner of digital assets at risk […] and risk derailing years of preparatory work and the future of Web 3.0 in Europe,” the letter says.

In July 2021, the European Commission drafted a bill as recommended FATF. The document assumes integration “rule of the road” and prohibits anonymous cryptocurrency transactions.

In March 2022, the Committee on Economic and Monetary Affairs of the European Parliament passed the bill on the regulation of cryptocurrencies MiCA. Not included in the final version mining ban amendment based on the Proof-of-Work consensus algorithm.

Recall that in the same month the European Parliament supported mandatory verification of users of non-custodial cryptocurrency wallets. The amendments are provided for in the regulations for the exchange of information between counterparties.