If you are in the EU region, to carry out unlimited transactions using your crypto wallets, you’ll have to be verified, this is due to the result of a poll recently conducted by the EU parliamentarians.
As part of the measures to combat money laundering via cryptocurrencies, the European Union parliament has voted in favor of limiting crypto transactions of crypto wallets with unverified users.
The result of the poll saw only four EU lawmakers voting against the limits while other 99 parliamentarians voted in support of the limits.
Along with the above limits that were approved, businesses in the region are as well been prohibited from accepting large cash payments. Also, a new EU anti-money laundering agency would be created.
The above steps were taken as part of the response to a series of illicit movements of money in the region.
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