By December 31, 2019, all crypto-exchangers, and virtual purse providers registered in the EU are required to conduct a KYC procedure for users and open financial intelligence registries of the European Union - Financial Intelligence Units (FIU). This requirement is contained in the AMLD5 directive, which is aimed at combating money laundering and the financing of terrorism. The document for the first time shows all the definitions of digital assets and legal entities that serve their turnover. These terms will be used by EU states when developing national legislation on cryptocurrencies.
The ONLY reason Governments want to know, is to take away your money. Thats basically the bottom line. Dress it up as AML, or anti terrorist, but the REAL reason is to take your money away. Why do they keep doing that? Well, if they can’t control your money, they can’t control you. Individual’s financial freedom is their worst nightmare, the threat that could topple the matrix we’re living in.
However, we wish those crooks good luck trying to enforce this for DEX (censorship-resistant decentralized exchanges).
The fight is far from being over.
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