European Banking Authority Launches New Consultation on Crypto Travel Rule

[sirty143]

European Banking Authority Launches New Consultation on Crypto Travel Rule

The European Banking Authority (EBA) has recently launched a new consultation process concerning implementing the so-called travel rule for cryptocurrency transactions. The institution is seeking feedback on the defined procedures that crypto... See more for yourself here.

Your opinion is greatly appreciated.

[Tribalchief]

The European Banking Authority (EBA) has recently launched a new consultation process concerning implementing the so-called travel rule for cryptocurrency transactions. The institution is seeking feedback on the defined procedures that crypto... See more for yourself here.

Your opinion is greatly appreciated.

It's disheartening to witness the diminishing essence of decentralization in the crypto space. While I understand the pursuit of security, it's noticeable that centralized entities now dominate every aspect, from exchanges to wallets. Restarting the crypto process seems appealing, especially when strict regulations from top officials threaten the community's freedom.

[rachael9385]

From what I read, the reason for creating this , crypto currencies travel transaction rules is not a bad one maybe they have been noticing things that are not meant to be.
As we all know these days fraud and money laundering has become the livelihood of some people so since it is illegal and they found a nice way to control that then it's a good one.

[philipma1957]

European Banking Authority Launches New Consultation on Crypto Travel Rule

The European Banking Authority (EBA) has recently launched a new consultation process concerning implementing the so-called travel rule for cryptocurrency transactions. The institution is seeking feedback on the defined procedures that crypto... See more for yourself here.

Your opinion is greatly appreciated.

Trezor to Trezor is perfectly fine. But Trezor to an exchange needs to  be under 1000 Euro.

They still don't quite know what to do to prevent money launders.

I am a villain in Spain you are a villain in Italy.

I send you 10 btc trezor to trezor.

You send that 10 btc to multiple wallets in your trezor . then slowly cash at 900 a piece  it make it work but does not stop it.

They know that a bag of euros with 1,000,000 in bills they may find with a random search so they like euros.

They know shift of btc is hard to trace but I can talk about 50 ideas that their new rules do not stop.

"Pay me 500 euros in btc for my secrets of btc trading."

 Run that advert and collect 100 deposits of 500 euros in btc and cash it out. Report it and boom that law is bypassed.

[target]

The European Banking Authority (EBA) has recently launched a new consultation process concerning implementing the so-called travel rule for cryptocurrency transactions. The institution is seeking feedback on the defined procedures that crypto... See more for yourself here.

Your opinion is greatly appreciated.

It's disheartening to witness the diminishing essence of decentralization in the crypto space. While I understand the pursuit of security, it's noticeable that centralized entities now dominate every aspect, from exchanges to wallets. Restarting the crypto process seems appealing, especially when strict regulations from top officials threaten the community's freedom.

This is how I see it as well. They are watching all crypto users traveling from place to place, it's not safe anymore traveling when you are a big name in crypto where they know who you are, you are likely be required to declare your BTC holdings as they may be implementing border laws.

As of this time, the law I think only allow people to move outside border bringing 10k USD. So there might be a law for this in crypto.

[philipma1957]

The European Banking Authority (EBA) has recently launched a new consultation process concerning implementing the so-called travel rule for cryptocurrency transactions. The institution is seeking feedback on the defined procedures that crypto... See more for yourself here.

Your opinion is greatly appreciated.

It's disheartening to witness the diminishing essence of decentralization in the crypto space. While I understand the pursuit of security, it's noticeable that centralized entities now dominate every aspect, from exchanges to wallets. Restarting the crypto process seems appealing, especially when strict regulations from top officials threaten the community's freedom.

This is how I see it as well. They are watching all crypto users traveling from place to place, it's not safe anymore traveling when you are a big name in crypto where they know who you are, you are likely be required to declare your BTC holdings as they may be implementing border laws.

As of this time, the law I think only allow people to move outside border bringing 10k USD. So there might be a law for this in crypto.

And have an electrum wallet with some coins in it. go to a new country open a laptop ,then put in an electrum wallet give it your seed and boom you have access to some of your coins.

I have large accounts on line.

ebay
bitcointalk
altcoinstalks
macrumors
evga.

There are thousands of posts I made.

thousands of pms.

I have a lot of email accounts with tens of thousands of emails.

I certainly can hide a 12 seed plus 1 for an electrum wallet.
I don’t need to bring any pc with me. or even a smart phone.

I buy a laptop say in the UK
 I load electrum and open a wallet.

I never carried the coins into the country.

Technically my coins are in any country that has internet technology.

the laws hurt free normal coin people. villians will do what I say and move the coins without issue.

[Tribalchief]

And have an electrum wallet with some coins in it. go to a new country open a laptop ,then put in an electrum wallet give it your seed and boom you have access to some of your coins.

I have large accounts on line.

ebay
bitcointalk
altcoinstalks
macrumors
evga.

There are thousands of posts I made.

thousands of pms.

I have a lot of email accounts with tens of thousands of emails.

I certainly can hide a 12 seed plus 1 for an electrum wallet.
I don’t need to bring any pc with me. or even a smart phone.

I buy a laptop say in the UK
 I load electrum and open a wallet.

I never carried the coins into the country.

Technically my coins are in any country that has internet technology.

the laws hurt free normal coin people. villians will do what I say and move the coins without issue.

And in summary, it's pay to be a Villian...
No, I mean.. A super Villian...

I really enjoy it when I see crypto enthusiast like you that thinks outside the box
No too many technicalities..., Just common sense.

I wouldn't mind paying for some Super Villian lessons @philipma1957