Damien Karem: Amendments to EU law on money laundering do not imply a ban on crypto payments

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Amendments to the EU anti-money laundering legislation, which are currently being discussed by the European Parliament, introduce restrictions on the lump sum of anonymous transactions.

Member of the European Parliament and one of the initiatorsbill Damien Carême told reporters that the proposed amendments do not imply a complete blocking of cryptocurrency transactions. One-time transaction limits of 1,000 euros (about $1,080) are being introduced for anonymous payments.

“We absolutely do not prevent cryptocurrency transactions, but we limit their volume for cases where user identification is not possible,” Damien Karem said.

Karem explained to reporters that the provisionsThe updated EU law on money laundering will affect the entire range of cryptocurrency transactions, including payment for goods and services in the metaverse. According to the MEP, it is extremely important to prevent "the flow of dirty money prohibited by banking legislation into other areas of cryptoeconomics."

Previously, the Council of the European Union agreed
amendment to the data law, according to whichsmart contracts should provide for the possibility of forced termination. Thus, legislators intend to provide the ability to manage data and events by analogy with controlling software for home appliances of the Internet of Things (IoT).