European politicians have voted to clamp down on anonymous crypto transactions 🚨 Critics say the new law will 'pave the way for a massive surveillance regime over Europe's financial landscape'
Politicians in Brussels have voted overwhelmingly in favor of a crackdown on unhosted wallets — and critics claim this will be a "massive government intrusion into citizens' private lives."Politicians in Brussels have voted overwhelmingly in favor of a crackdown on unhosted wallets.
Critics of the EU regulations have warned that crypto exchanges will find it impossible to verify the owners of unhosted wallets. Crypto exchanges had been urging European investors to contact politicians to raise their concerns before the vote took place. Gauthier also fears "the Web3 revolution won't happen in Europe" as a result of this new law — preventing the formation of a brand-new industry that would generate thousands of jobs, and undermining the trading bloc's competitiveness. He wrote:
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