Paul Tang, a member of the E.U. Parliament, believes that paying in cash should require information about the sender and the receiver, just like bank transfers.
Would he also say that?
Wait a few more years.
Cash is already dying here, you already have limits on the amounts you can pay, there are limits everywhere.
For example, ING won't allow you to deposit cash in someone else bank account at a bank, you would have to go to the ATM to feed those bills to your own bank account and transfer the money to your friend. One of the few kiosks that are still round for paying bills has just gone through a "modernization" it no longer accepts cash, you can only pay your utility bills with a card.
Cash is slowly dying and there is nothing that can save it.
This guy is talking about KYC for crypto services
It doesn't say so.
I guess he means so.
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Hardly imagine this would somehow apply for non-custodial wallets and their transactions.
Hihi, let's hear from the guy himself:
https://twitter.com/paultang/status/1508375282712993792So the identity of unhosted wallet-holders needs identification - just like you need to identify yourself when you deposit money at the bank. And we want authorities to be notified in case any one person receives a total of €1000 + from unhosted wallets. This is a red flag. 4/
So, in case I send 1000$ to mikeywith, I need to identify myself, he needs to do the same.
It's not about crypto services, it's about transfers between every! single person.