Under these rules, known colloquially as the travel rule, conventional bank transfers need to identify parties involved in any transaction over 1,000 euros, with suspicious transactions passed on to the authorities. But lawmakers are leaning towards abolishing that lower threshold for crypto transactions because large digital payments can easily be broken up into smaller chunks that evade detection, a practice known as smurfing.
Related posts
-
Stablecoin Market Remains Steady in June Amidst Crypto Volatility
While June was a lackluster period for crypto assets... -
Crypto ATM Installations Rise in 2024, Adding 2,564 New Machines Globally
In June, the number of cryptocurrency automated teller machines... -
Crypto Exchange Binance Takes Action Against Account Misuse
Cryptocurrency exchange Binance has announced measures to address the...