Cryptocurrencies are no longer anonymous in Europe: how will this affect you if you already have them?

Cryptocurrencies are not going through the best moment and, in fact, in recent weeks, there has been a global drop in prices for major virtual currencies. It seems that the market that many have been defending is getting closer to crashing, although some still defend the fact of betting on this type of asset.

Among the main tricks used by these people to try and convince the general public is the anonymity of transactions. And the fact is that until now, when sending or receiving these currencies, the users behind these movements were completely hidden, and therefore it was not possible to track the movements..

This seems like an ideal situation for people involved in fraud or money laundering. But this situation would have a fairly clear end, and that would be on the part of the European Union. Today, he announced several actions for the future, such as expanding roaming and put an end to the anonymity of cryptocurrencies.

In short, the European Union intends to establish some control over the various cryptocurrency platforms that are used to buy and sell these assets. The Funds Transfer Regulation or TFR will be responsible for putting into practice what the European Union intends..

As such, platforms like Coinbase will need to record all transactions made regardless of the amount. The data that will be collected is both information about the transaction and the beneficiary and, logically, the person who sends various currencies using this platform..

As we suggested, there is no minimum amount to apply this new rule, and this is what The European Union said that the movement of the cryptocurrency violates existing rules based on transaction thresholds due to their nature. and, above all, with almost instantaneous speed.

It’s clear that The European Union Movement has the task of preventing money laundering or movements of dubious origin using cryptocurrencies.. What is happening is that this solution has not been popular with those users who use these currencies and across platforms.

At the moment, there is still a lot of unfinished business, and, in fact, the Funds Transfer Regulation is a proposal that must go through several stages. The European Union has assured that while data that was previously anonymous will become known, it will continue to be subject to data protection laws..