Post
Topic
Board Bitcoin Discussion
Re: New EU AML ban bitcoin anonymous payment
by
NotFuzzyWarm
on 23/03/2024, 23:54:10 UTC
This isn't the case, you are completely anonymous when you coinjoin. Participants in a group transaction can't be distinguished from each other since there's multiple clones created with the exact same value -
You don't understand what this ban is about, it's not about stopping you from sending a tx!
It's a about any company not allowed to receive a payment of over 3000 euros from an anonymous source!

So your bravado is...empty slogan!

You are free to enter a store and, buy a 5000 euro tv and try to pay with crypto, but the store will simply refuse your payment unless you id yourself! So?
What does any mixing, conjoin or anything else solve here?

As for the all caps breaking news...
Quote
The new AML legislation applies certain limits for cash transactions and anonymous cryptocurrency payments. Under the new rules, anonymous cash payments over 3,000 euros will be banned in commercial transactions, and cash payments over 10,000 euros will be completely banned in business transactions.

The new legislation is expected to be fully operational within three years from its entry into force.

I doubt more than 5% of the forum does more than 2 payments over 3000 euros for goods a year that can be split into two or three.
Exactly. Personally I have zero use for a cojoin service and cannot think of a single reason to use them.
Aside from a minuscule amount from the contributions address in my sig, every Satoshi I have are from mining at Kanopool and are new, fully traceable coins that have never left my ownership. When needed I have no problem paying the taxes due on them and if questions arise regarding their source, I can easily prove their history. Worse, coins from known cojoin services quite rightly often raise red flags with exchanges

The thing about purchasing durable goods is that the creation and at least 1st-tier distribution of said goods requires <drumroll please> fiat so the companies can pay their suppliers and lenders so it behooves the final seller accepting BTC to have confidence there is no legal questions about the coins. Receiving the coins from a registered exchange or crypto bank makes them good as gold or any fiat-based credit card because their source is known.

If you insist on paying cash where do you get it from? For most folks - from an ATM & their bank accounts. How does the money get into the accounts, from your job or otherwise traceable means. So, even fiat is traceable unless it comes from um, questionable means.