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> Under the new Anti-Money Laundering Regulation (AMLR), credit institutions, financial institutions and crypto asset service providers (CASPs) will be prohibit

> Under the new Anti-Money Laundering Regulation (AMLR), credit institutions, financial institutions and crypto asset service providers (CASPs) will be prohibited from maintaining anonymous accounts or handling privacy-preserving cryptocurrencies, such as Monero This isn't really an issue, AML exists for a reason, having had experience in countries where corruption was extremely bad, AML combined with solid privacy obligations of data from the exchanger is a net positive thing. People can complain about "I want fully private transactions" - Okay then use cash. Otherwise force your exchange provider to keep your data secure.

giancarlostoro 1y ago
> People can complain about "I want fully private transactions" - Okay then use cash. I want fully private transactions over the internet, cant use cash with someone a continent away.
- soco 1y ago
  I wonder, how private is hawala? Anyone knowing it enough to chime in?
- sshine 1y ago
  > I want fully private transactions over the internet The big problem seems to be that then you allow for arbitrary speculation, causing high volatility, and scarcity of reliable ways to exchange the money, because no organisation that could otherwise stabilise the exchange rate can put their name to fully private transactions.
- bilekas 1y ago
  > I want fully private transactions over the internet And you can still do this, the AML is related to the using the Exchanges themselves ?
alexey-salmin 1y ago
> People can complain about "I want fully private transactions" - Okay then use cash. Cash too is becoming more and more restricted over time. Large denominations are removed from circulation, transactions above certain threshold are made illegal, limits are put on cash withdrawals per day and per month. Realistically the current trajectory of the EU is "less and less private transactions until there are none in a couple of decades".
- OutOfHere 1y ago
  Moreover, cash is subject to both physical seizure and substantial monetary inflation.

giancarlostoro 1y ago

> People can complain about "I want fully private transactions" - Okay then use cash. I want fully private transactions over the internet, cant use cash with someone a continent away.

soco 1y ago
I wonder, how private is hawala? Anyone knowing it enough to chime in?
sshine 1y ago
> I want fully private transactions over the internet The big problem seems to be that then you allow for arbitrary speculation, causing high volatility, and scarcity of reliable ways to exchange the money, because no organisation that could otherwise stabilise the exchange rate can put their name to fully private transactions.
bilekas 1y ago
> I want fully private transactions over the internet And you can still do this, the AML is related to the using the Exchanges themselves ?

alexey-salmin 1y ago

> People can complain about "I want fully private transactions" - Okay then use cash. Cash too is becoming more and more restricted over time. Large denominations are removed from circulation, transactions above certain threshold are made illegal, limits are put on cash withdrawals per day and per month. Realistically the current trajectory of the EU is "less and less private transactions until there are none in a couple of decades".

OutOfHere 1y ago
Moreover, cash is subject to both physical seizure and substantial monetary inflation.