The EU is launching the EUROe stablecoin pegged to the euro and is going to control transactions of crypto users in excess of €1000.
EU planning soon launch the first regulated and licensed EUROe stablecoin pegged to EUR. This kind of financial instrument will allow almost instant payments around the world for a small commission. The launch is scheduled for 2023.
In addition, the EU intends to start carefully monitoring crypto transactions worth more than 1,000 euros and set a limit of 10,000 euros for a one-time cash payment. As noted in the official press release, such steps are being taken as part of the European financial systеm’s fight against money laundering and terrorist financing.
The new regulations apply to everyone in the blockchain space, requiring crypto asset service providers to conduct due diligence on their customers. In addition, so-called “special enhanced measures” are being introduced for cross-border correspondent relationships for cryptocurrency service providers.
Recall, it became known earlier that the EU is preparing a new law obliging cryptocurrency services to report all information about transactions of their clients . In addition, in October of this year, as part of the eighth package of sanctions, a ban on servicing Russian accounts was introduced.
