EU Bans Anonymous Payments! | Crypto Enters a New Era

[emeraldglass]

What's the Latest?
Anonymous wallet payments between companies are now illegal under a new law passed by the European Union last Tuesday. This law prohibits any anonymous crypto payments, regardless of the amount.

Expansion of MiCa Law
Transactions conducted through wallets without KYC verification are now banned. Every peer to peer wallet transaction must include KYC verification. I have been warning about this for a long time, and now it's happening, starting with businesses.

Enforcement Measures
To enforce this, they will likely ban all non KYC wallets from app stores (such as Google Play and Apple). Most blockchains are transparent, making it easy to trace transactions.

Rise of Anonymity
Within the EU, people will need to find ways to bypass this ban, such as jailbreaking app stores. Interestingly, Apple has recently loosened its monopoly on the only AppStore for Apple devices. The impact of this will spread rapidly.

Monero as a Solution
Only Monero can withstand a full scale ban on anonymous crypto payments. While Monero may not make you rich in dollars, it offers complete financial privacy. If you think this isn't valuable, you're mistaken and don't grasp the direction the European Union is heading. Central Bank Digital Currencies (CBDCs) are entering the scene, and they offer no escape.

A Reminder About Bitcoin
Bitcoin was initially created as a prototype for CBDCs, it was never intended to grant freedom.

@eduardkoopman @ascension @Seth Walsh

 

[hytt]

Relax it's just the European Union you can still trade money anonymously in other countrie's systems and change it for your coin on their bank

 

[Shkreliii]

How do they ban something unbannable jfl

 

[emeraldglass]

Relax it's just the European Union you can still trade money anonymously in other countrie's systems and change it for your coin on their bank

It would not be possible because the restrictions are incorporated in exchanges and wallets, and it is only a matter of time before other nations, such as the United States, implement identical rules. Their objective with cryptocurrency was not just to make money, but also to normalize digital currencies in order to facilitate future control through central bank digital currencies.

 

[emeraldglass]

How do they ban something unbannable jfl

You are aware that the Bitcoin blockchain is open and traceable, right? Only a few coins, such as Monero, are untraceable. The misconception that cryptocurrency is private is false, it has not been private since 2013. In truth, governments and financial organizations control the price and nearly the entire market.

 

[i_love_roosters]

Chad uses cash anyways

 

[emeraldglass]

Chad uses cash anyways

Chad uses Goldbacks, which contain genuine gold and are tamper proof.

 

[hytt]

=It would not be possible because the restrictions are incorporated in exchanges and wallets, and it is only a matter of time before other nations, such as the United States, implement identical rules. Their objective with cryptocurrency was not just to make money, but also to normalize digital currencies in order to facilitate future control through central bank digital currencies.

It does not matter that are hundreds of banks around the world and Europe and the west are becoming more less and less relevant. Even if Europe bans it you can just exchange your Monero to same African random coin and then exchange it again for dollars. It's that simple bhai.
I'm also pretty sure Monero is going to be the next bitcoin I will soon invest some money into it.

 

[eduardkoopman]

No surprise here.
As crypto becomes more used and popular. The more governments, will try to control and cuck it.
And make laws, to fuck people and companies over, if they manage to catch you using it.

 

[eduardkoopman]

Chad uses cash anyways

Cash is a shitcoin.

 

[twilight]

Cash is a shitcoin.

thoughts on near and icp ? what do u think they will reach this bullrun

 

[eduardkoopman]

thoughts on near and icp ? what do u think they will reach this bullrun

Near I never followed, so dunno.

icp has good potential imo. But solana may win the race, and take all. When it comes to the battle of the use case for the fast blockchains.

 

[wastedspermcel]

Jewrope summarised

 

[BoredPrince]

Fuck, I thought we had more time, although I'm not quite sure how will they enforce this

Banning wallets without kyc can only do so much, we can still download wallets from Internet or use VPN


Monero is legit for privacy, that's why it's usage is increasing on dark web

I need to criminalmax asap, later might be too late