While everybody is cheering at recent price increase and counting chips, an important vote is coming this thursday at EU parliement. This vote will basicaly determine if EU will enforce identification and regulation of every non-custodial wallets such as Metamask, software wallet, Trezor, Ledger etc. This could lead to exchanges refusing to transfer in or transfer out to wallets, making cryptos very centralized and easily controllable by government and their regulators.
Every transaction over 1000 EUR is subject to verification, it might even be lowered to 0 EUR, meaning all transactions would have to be verified/authorized by designated authorities.
This is a huge drawback and will put Europe citizens behind others. This could also become a worldwide policy, giving extra powers to the originators of this request: the US FATF Travel Rule. Instead of taking sovereignety, Europe is following uncle Sam steps again.
Imagine how easy it will be for them in the future to blacklist any wallet for not complying to a new model, for participating in a or a convoy for freedom, for raising a concern on twitter, for consuming too much fossile fuel this month, for not contributing financially to Ukraine war etc…
What is the FATF Travel Rule?
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This regulation is the equivalent of total control on cash and its planned disappearance.
This is plain totalitarism disguised under anti money laudering.
The vote is this thursday, we have to act NOW !
How to act? By contacting by phone or emails our representants, see list of emails below in my first comment. If you don’t know what to write, simply state your strong disapproval of such a vote. I won’t paste a model to be sent as I don’t want us to look like bots spamming.
Anonymized twitter link:
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Original twitter thread:
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The proposition:
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How to act? By contacting by phone or emails our representants, see list of emails below in my first comment. If you don’t know what to write, simply state your strong disapproval of such a vote. I won’t paste a model to be sent as I don’t want us to look like bots spamming.
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I live far from the EU but for globalization sake I hope this goes well.
Yes I plan on having this article and information posted on my wall about 1000 times this week, I can’t wait to read it over and over and over
Here is a [Nitter link](https://nitter.net/paddi_hansen/status/1507741879563132928) for the Twitter thread linked above. Nitter is better for privacy and does not nag you for a login. More information can be found [here](https://nitter.net/about).
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Plenty of info and sources; but I’m in America and cant help much. It will be here soon I’m sure, so we’re all in this together. Hope we all win in the end.
Too many people to contact.
He gives a fuck about any of us. For EU politician Paul Tang we are all criminals.
*Paul Tang, one of the members of the European Parliament on the Economic Affairs Committee that will vote on the matter later this week, was unbowed by what he called a* ***“social media storm by crypto bros.”***
*“Money going to unhosted wallets may end up in the wrong place,* ***for example with terrorist groups,” Tang, a Dutch socialist, tweeted Monday,*** *saying wallet owners would need to be identified just like bank customers are. Another reason to scrap thresholds, argues Tang, is “smurfing,” or the practice of coordinating small money transfers to escape threshold rules.*