Dogecoin rises today and the EU approves a ban on anonymous crypto wallets
Last Updated on 24 March 2024 by CryptoTips.eu
In a recent development, the European Union has made a decision that significantly impacts the world of cryptocurrency: a ban on transactions from anonymous crypto wallets. This decision is part of a broader strategy to combat money laundering.
Although the specific details and the full scope of this new regulation are yet to be finalized, it is clear that the EU is aiming for better transparency in financial transactions, especially in the rapidly growing sector of digital currencies.
Approval of new anti-money laundering crypto law
The new law imposes a ban on payments from anonymous wallets, regardless of the amount. It is not prohibited to keep your crypto in personal custody wallet (such as with a Ledger) and hardware or software wallets are not illegal. The goal of the EU is to know who is behind a crypto wallet.
Furthermore, after its implementation, it will no longer be possible to make cash payments over €10,000 in the EU, and anonymous cash payments over €3,000 will no longer be possible. Currently, you can still pay up to €10,000 anonymously in a store.
🇩🇪 Von EU-Ausschuss beschlossen:
— Patrick Breyer #JoinMastodon (@echo_pbreyer) March 21, 2024
🚫Verbot von Barzahlungen über 10.000 €
🆔Verbot anonymer Barzahlungen über 3.000 €
₿ Verbot anonymer Kryptozahlungen an hosted wallets selbst bei Kleinstbeträgen
Das bedeutet Krieg gegen das Bargeld und schleichende finanzielle Entmündigung –… pic.twitter.com/mI7AlDslqY
Dogecoin rises today
The popular memecoin Dogecoin sees a remarkable increase in value. This increase is partly due to the general attention for memecoins, but also to specific factors that have sparked the interest of investors. Despite the uncertainty in the crypto market last week, with developments such as the SEC’s investigation into Ethereum’s status as a potential security and the exit of U.S. Spot Bitcoin ETFs, Dogecoin has seen its value increase.
A key factor in Dogecoin’s recent price increase is the application by Coinbase to the CFTC to offer cash-settled futures for Dogecoin, Litecoin, and Bitcoin Cash. This move has particularly caused optimism among Dogecoin enthusiasts. Moreover, Elon Musk, CEO of Tesla and owner of X, has suggested that Dogecoin could serve as a payment option for Tesla in the future.
As the EU takes steps to regulate the crypto market by banning transactions from anonymous wallets, Dogecoin remains a bright spot in the sector, with an increasing value and growing interest from investors. These developments highlight the dynamic and rapidly changing nature of the crypto world, where regulation and market trends are closely intertwined.
