European Union Wants To Ban Anonymous Cryptocurrency Wallets By 2024

The executive branch of the European Union (EU), the European Commission (EC) have confirmed a new proposal today calling for much stricter regulations of anonymous cryptocurrency transactions and wallets.

One of the major policy implementations proposed to combat money laundering, per the proposal document, is to oblige companies that facilitate transfers of Bitcoin and other cryptocurrencies to collect personal data of senders and recipients.

According to the Commission's proposal, corporations that process cryptocurrency transactions will be required to record customers' names, addresses, dates of birth, and account numbers.

Let us know what you think of the proposed 'anonymous crypto wallet' ban in the EU. Do you think the EU will be able to enforce this new ban?