by Rhoda Wilson, Expose News:

Last Monday, the Council of the European Union announced that the Council and the Parliament had struck a deal, a provisional agreement, on stricter anti-money laundering rules.  The reason for the new regulations, so they claim, is to combat “terrorist financing,” a goal which has been fast-tracked since the 7 October Hamas terrorist attack on Israel.

As well as “enhanced due diligence” for crypto-asset service providers, the new rules set an EU-wide maximum limit of €10,000 for cash payments. In addition, according to the provisional agreement, obliged entities will need to identify and verify the identity of a person who carries out an occasional transaction in cash between €3,000 and €10,000.