The EU new rules crushes true anonymity and privacy in crypto by mandating user and transaction data collection regardless on transaction amounts. Beware of using any EU-regulated crypto service/platform

Straight from the mouth of the horse, the EU is adopting principles which makes crypto-assets traceable. A number of days ago, the EU adopted new rules that extended the scope of rules relating to crypto transfers.

"Under the new rules, crypto asset service providers are obliged to collect and make accessible certain information about the sender and beneficiary of the transfers of crypto assets they operate, regardless of the amount of crypto assets being transacted. This ensures the traceability of crypto-asset transfers in order to be able to better identify possible suspicious transactions and block them."

Of course, the rules are dressed up as an attempt to prevent criminal activity and further ensure user security and safety. These rules were presented all the way back in 2021 and I have been watching their progress since then. There was a bit of conflict about them so I was unsure if they'd pass but here we are.

The rules uses the term "crypto asset service providers" CASPs) which are defined under MiCAR as an approved “legal person or other undertaking whose occupation or business is the provision of one or more crypto-asset services to clients on a professional basis.” So it essentially describes Cefi exchanges, though I'm sure they'd like to extend this to Defi platforms as well, however realistic that actually is.

https://www.consilium.europa.eu/en/press/press-releases/2023/05/16/anti-money-laundering-council-adopts-rules-which-will-make-crypto-asset-transfers-traceable/