The EU is on the verge of creating a new AML regulator that will oversee crypto

[zasad@]

Fuck, fuck, fuck. Europe is trully a joke. Seriously, how EU is good for the citizens? It brings nothing.
This union does everything to drag the citizen down. The goal in our life is to progress, not to be dragged down.
They should rather deal with all these invading refugees who arrive by the thousands in boats. Stop, stop, stop!!!

Here we already have measures concerning bank accounts held abroad (within the union). In which information about you is shared between our countries (if you have a bank account elsewhere, the taxman knows about it)

But now the CEXs are going to be included in this scheme. Which means in the end: your country will know if you have an account with Kraken, Binance, and others... But it will also know how much you have in coins...
I hope for you that you have filled in your tax returns perfectly, and you have not tried to defraud, otherwise, "hello problems! how are you?"

These are not the problems of Europe, but the new digital slavery. When people told me about this 5 years ago, I thought they were a little crazy. We have no more than 2-3 years left when the legislation will work, and if you send coins to a centralized service, then after that it will be impossible or very difficult to become anonymous again.

[zasad@]

https://www.coindesk.com/policy/2023/05/12/eu-crypto-tax-plans-include-nfts-foreign-companies-draft-text-shows/EU Crypto Tax Plans Include NFTs, Foreign Companies, Draft Text
"Laws set to be agreed next week would require crypto companies to register with tax authorities, even if they’re based outside the bloc or offering non-fungible tokens.
The European Union plans to force crypto companies to give tax authorities details of their clients' holdings, according to a draft bill released to CoinDesk under freedom of information laws.
The data-sharing law, based on a model from the Organization for Economic Cooperation and Development (OECD), is set to be agreed by finance ministers next week, and will allow tax authorities to share data within the 27-nation bloc. Commission officials have said the bill received unanimous acclaim at a meeting on Wednesday, though people familiar with the matter told CoinDesk that some finance ministers have not yet received formal approval from parliaments."

[dansus021]

More Regulation I don't know if this would be a good thing or a bad thing, I recently saw it on Twitter but cant remember the link and basically crypto can stay on Europe but with strict rule and from exchange to wallet need to be licensed.

The Good thing is EU at least don't ban crypto, and people can enjoy crypto trade and so on.

The Bad things is privacy and of course if everything need to be licensed this gonna make crypto Centralized right?

[Lucius]

~snip~
The Bad things is privacy and of course if everything need to be licensed this gonna make crypto Centralized right?

I have nothing against the rules being clearly established, and the rules for companies being tightened to the extent that only serious ones can do business in that sector. As for privacy, I wouldn't worry too much about that question, because most investors have nothing against the way they use CEX today, and those who want more privacy will always find a way to do it.

[zasad@]

More Regulation I don't know if this would be a good thing or a bad thing, I recently saw it on Twitter but cant remember the link and basically crypto can stay on Europe but with strict rule and from exchange to wallet need to be licensed.

The Good thing is EU at least don't ban crypto, and people can enjoy crypto trade and so on.

The Bad things is privacy and of course if everything need to be licensed this gonna make crypto Centralized right?

It will work like this: each company will have many officers who will check the legality of all inputs and outputs. If the wallet is not verified, but the exchange user will not be able to withdraw money. It's practically a banking service. Recently, a colleague who works in Europe in one of the crypto exchanges told me that every quarter they send several terabytes of information about customer transactions to the tax authorities, and the tax authorities have neither specialists nor the technical ability to process this data.