Commercial payments
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The final text of the EU Anti Money Laundering Act increases the encrypted payment limit for self hosted wallets to 7000 euros
According to reports, according to the latest anti money laundering bill of the European Parliament, commercial encryption restrictions may no longer need to be associated with licensed encryption companies. After industry opposition, policymakers have reverted to using the old version of the text. In the latest version of the bill, the maximum value of cash transactions for commercial payments is 7000 euros, while the maximum value of encrypted transactions involving pseudonymous wallets is 1000 euros. The text of the bill allows exceptions to the cash threshold of 7000 euros for…
