The European Union has put forth a new guideline barring cryptocurrency transactions done via noncustodial wallets lacking verification as part of its broader Anti-Money Laundering (AML) regulations aimed at tackling financial crimes. The majority of the European Union Parliament’s primary commission approved the move on March 19, 2024, showcasing a united front against undisclosed transactions.

The measure specifically targets transactions routed via self-custody wallets lacking proper identification, including those made using internet applications, mobile phones or desktops. The directive seeks to close the gap exploited for anonymous fund transfers, a method commonly associated with…

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