To prevent digital assets from being used to finance terrorist activities, European lawmakers are considering forcing cryptocurrency companies to perform additional authentication on transactions of less than 1,000 euros, a measure that is part of a new anti-money laundering bill.
Related drafts show that European lawmakers discussed how to ensure authorities can identify individuals involved in crypto asset transactions of any amount in a closed-door meeting on Tuesday, but no agreement has yet been reached. Officials worry that terrorism funding may be channeled through multiple small transactions rather than just large transactions.
EU lawmakers hope to reach an agreement before the end of the year, after which the bill will need to be voted through in the plenary session of the European Parliament and passed by EU ministers in the Council before it can become law. (DL News)