European Union proposes ban on anonymous cryptocurrency wallets

The European Union is proposing a ban on anonymous cryptocurrency transactions as part of a broader effort to fight money laundering and hinder terrorism financing.As part of its plan, the EU would create a new central authority the EU AML Authority ((AMLA)) to coordinate national supervisors for consistent application of EU rules. That step is also intended to improve cooperation among financial intelligence units.If the proposal is adopted, the EU's single rulebook for AML (anti-money laundering) and CFT (countering the financing of terrorism) would apply to all crypto asset service providers and to cryptocurrencies, the EU's fact sheet said.Specifically, the body would prohibit anonymous crypto asset wallets. In other words, systems like bitcoin would have to follow the same rules as banks making wire transfers.Cryptocurrencies were already weak in Tuesday morning trading. At midday, bitcoin (BTC-USD) stays below $30K at ~$29.9K; ethereum (ETH-USD) trades at about $1,798; Binance Coin (BNB-USD)