Replying to Avatar graffiti

Do you have a reference to the original document?
Avatar
Lyudmyla Kozlovska 1y ago

There are many draconial provisions in the upcoming #EU #AML Regulation both for cash and to p2p #bitcoin transactions (self-hosted wallets and use of mixers).

Some examples:

(33b) The introduction of a Union-wide limit to large cash payment mitigates the risks associated with the use of large cash payments. However, obliged entities that carry out transactions in cash below this amount remain vulnerable to risks of money laundering and terrorist financing as they provide a point of entry into the Union’s financial system. Therefore, it is necessary to require the application of customer due diligence measures to mitigate the risks of misuse of cash. To ensure that the measures are proportionate with the risks posed by transactions of a value lower than EUR 10 000, such measures should be limited to the identification and verification of the customer and the beneficial owner when carrying out occasional transactions in cash of at least EUR 3 000. This provision does not relieve the obliged entity from conducting all customer due diligence measures whenever there is a suspicion of money laundering or terrorist financing, or from reporting suspicious transactions to the FIU.

(93) The anonymity of crypto-assets exposes them to risks of misuse for criminal purposes. Anonymous crypto-asset ▌accounts as well as other anonymising instruments, do not allow the traceability of crypto-asset transfers, whilst also making it difficult to identify linked transactions that may raise suspicion or to apply to adequate level of customer due diligence. In order to ensure effective application of AML/CFT requirements to crypto-assets, it is necessary to prohibit the provision and the custody of anonymous crypto-asset ▌accounts or accounts allowing for the anonymisation or the increased obfuscation of transactions by crypto-asset service providers, including through anonymity-enhancing coins. The prohibition does not apply to providers of hardware and software or providers of self-hosted wallets insofar as they do not possess access to or control over those crypto-assets wallets.

As we were said by the EU Commission, “the ban on crypto-asset payments not intermediated by a crypto-asset service provider has not been retained given the absence of technical means of enforcing such a requirement at present”. But that exactly shows the direction of the regulatory approach.

This is a huge deterioration of financial and privacy rights after EU Commission and Council put pressure on the EU Parliament and removed all provisions in favor for individual rights, privacy and financial inclusion.

We need your support guys, before it is too late. Final vote on April 22nd.

Full text you can find here:

https://data.consilium.europa.eu/doc/document/ST-6220-2024-REV-1/en/pdf

Reply to this note

Please Login to reply.

Discussion

Avatar
graffiti 1y ago

This just passed in the US (see link below). They tried to apply it to cryptocurrency, but it looks like they are testing the waters in the EU. The only way defeat this kind of thing is to become a criminal unfortunately. This is essentially a ban on crypto one way or another using a standard divide and conquer approach. The more that comply, the more they conquer until there is nobody left.

https://www.irs.gov/businesses/small-businesses-self-employed/form-8300-and-reporting-cash-payments-of-over-10000

Avatar
Lyudmyla Kozlovska 1y ago

No need to become criminals. You have a lot of instruments in democracies to change the narrative and regulations, especially in the year of elections. Use your power, don’t allow to degrade you to criminals.

Avatar
Jo 1y ago

Kinda disagree on this one. Voting harder dosen't work. Existing power is too entrenched.

Avatar
MAHDOOD 1y ago

My thoughts exactly. This shit never ends,

Avatar
Lyudmyla Kozlovska 1y ago

It works, but nothing solves your problems forever: power never given, it can be only taken. The moment you stop to care your rights, you are going to be abused. That is a reality. So freedoms you enjoy right now were achieved because your grandparents or so fought for them. If you don’t defend them and give up, they will be undoubtedly taken by others.

Avatar
Jo 1y ago

Why I own guns.

Avatar
ThyLobster 1y ago

With all due respect nostr:npub13ajk3hhvqys2ev4y68jwxywgs8fsdsuk4y5gkzs874jdyrccvf5qak2yd9 and I understand what you are doing and your work is important, especially when it comes to defending individuals - I think playing by the law is like stopping the wind with your hands.

The most important thing is to grown natural, organic immunity. If bitcoin needs antibiotics to survive, the it will not survive long, and this is really bad news. If the work you do, is fundamental for the continuity of bitcoin and it's ecosystem... If that's what you are saying, then please say it louder, because that REALLY MEANS THE END IS NIGH.

If on the other hand, your work is a palliative, which softens the blows of a increasingly authoritarian, evil and blood thirsty government(s), then it's commendable and honourable effort and it has the appropriate scale of intervention.

Please feel free to disagree and argue otherwise if you feel inclined to do so.

Thank you for all your work.

Avatar
ThyLobster 1y ago

Schindler helped quite a lot of people, but that regime ended with a war.

Avatar
MAHDOOD 1y ago

Unfortunately things rarely work out through voting. Civil disobedience is more effective. The label “criminal” means nothing when the ones assigning it to you are the biggest criminals in the world. Bitcoin was designed to fight this censorship resistance.

Avatar
Jerry Curlan 1y ago

Unjust laws must be broken.

Avatar
PirataCuervo 1y ago

Guess you missed COVID, but good luck

Avatar
Lyudmyla Kozlovska 1y ago

Since you write me in English, you probably had a chance to get educated without much effort contrary to the situation we have in many authoritarian states.

Covid restrictions were possible because just a few opposed. But those who opposed actually did changes that we right now don’t experience restrictions. If you fight back you get what you want. There is always a price for that, obviously.

Avatar
PirataCuervo 1y ago

Well I wouldn't call around 25-30% of the population "a few".

What % are you expecting to stand up to these regulations? Which I would imagine far fewer people would really see as a big deal, sadly.

Avatar
Lyudmyla Kozlovska 1y ago

It depends on country. Some people prefer to watch from sofas while other project rights.

It is a reality.

My goal to activate exactly those who care about rights. 20-30 % is perfect. But they need to know about it. We were getting this information just recently since trilogue was without consultations with civil society.

Unfortunately.

So we have to be active now.

Avatar
PirataCuervo 1y ago

As I said, good luck.

The farmers were fairly successful because they came in with heavy equipment and we're not fking around.

Planning to write a petition?

I'm not sure what you are getting at.

This move can be looked at as creeping tyranny, which it is. It can also be seen as a signal, that they know the financial system is close to breaking again.

2c
puddintaine2 1y ago

Bah that’s bullshit. They got exactly what and everything they wanted and didn’t need to keep pushing the scam. They passed all sorts of new tryanical laws, radically changing our legal system, radically Changing our infrastructure, radically redistributing wealth, injected the masses and so GD much more. And got away with it Scott free. And you would characterize this as a win for us/the people. Jfc you are intergalacticly delusional 🤦‍♀️

Avatar
𝕯𝖊𝖗 𝕲𝖊𝖎𝖘𝖙 1y ago

Ehen those who make the law refuse to follow the law there no law. Just a fight for survival.

2c
puddintaine2 1y ago

😂😂🤣🤣🤦‍♀️🤪☠️

Avatar
Sat Stacker 1y ago

Not to mention, the €3,000 figure will not be adjusted for inflation overtime.

How much will €3,000 be in 10 years? 20 years? Purchases of that size will eventually become more common, and governments will be able to automatically increase their scope of surveillance without having to introduce new laws.

#bitcoin

Avatar
Lyudmyla Kozlovska 1y ago

That is why we need to act now, before it is too late and be vocal before the 22nd of April.

We need to concentrate our efforts on the three priorities to change negative language in the regulations:

1. We need support to make it as public as possible that increased AML regulation without provisions to protect privacy and financial freedoms will lead to financial exclusion, human rights violations and abuse. Individual cases of human rights violations, where banking data was abused or people were financially excluded, social use cases of #bitcoin  should be discussed as broadly as possible.

2. We need to know citizens of the EU what consequences of such regulation mean for their banking data, if someone decides to abuse it and how #bitcoin  servers a remedy for such abuses.

3. We need to change this perception by engaging with elected officials, civil society representatives, and all those with political influence.

This way, they will support our cause and help us protect our financial rights.

We at @ODFoundation are working to make this happen. But to do so, we need your all possible support.

We need you to write articles, reach out to your local officials before the vote on April 22nd, message influential journalists, help us to fundraise to conduct advocacy work and overall, become a spokesperson about the importance of legally protecting our financial freedoms.

If you have more ideas of how to help, let me know in the comments!

Avatar
Kenshin 1y ago

The “misuse of cash” is a tautology since it was specifically engineered by the State as a tool for surreptitious theft of the populous’ production and savings.

Avatar
Nubada369 1y ago

Criminal actions have been committed before crypto and still being committed with FIAT money support. States and big corporations are committing atrocities all around the world in front of us and there’s no penalty or punishment. All that makes you think if all these laws and regulations are in any case really made to protect any citizen or community but the ones that have already been violated rights and laws or are they just instruments to close the space for individual rights and freedoms.

Avatar
Pextar 1y ago

What can we do to help?

Avatar
Ike 1y ago

Ignore legislatures and their petty regulations and transact p2p. These institutions are either controlled or outright owned by the global banking interests anyway.

Avatar
Lyudmyla Kozlovska 1y ago

We need to concentrate our efforts on the three priorities to change negative language in the regulations:

1. We need support to make it as public as possible that increased AML regulation without provisions to protect privacy and financial freedoms will lead to financial exclusion, human rights violations and abuse. Individual cases of human rights violations, where banking data was abused or people were financially excluded, social use cases of #bitcoin  should be discussed as broadly as possible.

2. We need to know citizens of the EU what consequences of such regulation mean for their banking data, if someone decides to abuse it and how #bitcoin  servers a remedy for such abuses.

3. We need to change this perception by engaging with elected officials, civil society representatives, and all those with political influence.

This way, they will support our cause and help us protect our financial rights.

We at @ODFoundation are working to make this happen. But to do so, we need your all possible support.

We need you to write articles, reach out to your local officials before the vote on April 22nd, message influential journalists, help us to fundraise to conduct advocacy work and overall, become a spokesperson about the importance of legally protecting our financial freedoms.

If you have more ideas of how to help, let me know in the comments!