EU Money Laundering Overhaul Targets Private Banking \ Crypto Anonimity

[Silvio]

https://www.finews.com/news/english-news/47226-eu-money-laundering-private-banking-amla
The new centralized Anti-Money Laundering Authority (AMLA), which plans to start operations at the beginning of 2023, will focus on the direct supervision of financial sector entities, particularly those with extensive cross-border operations.

Any form of anonymous instruments will also be barred, whether accounts, safe deposit boxes or crypto-asset wallets. Owners or beneficiaries of existing ones must be subject to full CDD measures before they can continue using them in the future. As part of that, companies will also be prohibited from issuing bearer shares and will have to convert any existing ones into registered shares.

---------------------------

Guys, we got until 2023 to get out of the EU.

 

[Fred]

maxmmm said:
Guys, we got until 2023 to get out of the EU.
Click to expand...

like @Martin Everson is predicting since 2018 thu&¤#

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[Martin Everson]

Yes, people better get out of EU before its too late like I have always been saying for years damn_(. Things are moving much quicker than I expected. The EU maybe laying the ground work for introducing a EU wealth tax nai¤%.


"The top 1% wealthiest individuals own around 20%”“25% of total wealth in France, Germany, Spain, and in Scandinavia. This means that a wealth tax levied only on the top 1% wealthiest Europeans would generate a large amount of tax revenue while preserving wealth for the bottom 99%.

Why levy this tax at the European level? First, because this is probably the best level to implement and enforce an effective wealth tax. With a European wealth tax, migration of wealthy taxpayers within the European Union becomes irrelevant (Kleven et al. 2020). Enforcement is facilitated by cross-border bank and tax administration cooperation (Saez and Zucman 2019). Most importantly, a tax at the European level would be a concrete embodiment of European solidarity in the fight against the COVID epidemic. It would shift the discussion about how to pay for the costs of the crisis away from a question of international transfers (across European countries) and instead focus the discussion on transfers across individuals according to their means (irrespective of their nationality). This would overcome oppositions based on selfish national self-interest, and contribute to creating a sense that Europe can indeed work for everyone."


https://voxeu.org/article/progressive-european-wealth-tax-fund-european-covid-response

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[countryfree]

Last year in France, there were bitcoin ATMs where you could sell bitcoins anonymously, up to 1,000 €. They're all gone...

 

[MiddleEuroAsia]

maxmmm said:
https://www.finews.com/news/english-news/47226-eu-money-laundering-private-banking-amla
The new centralized Anti-Money Laundering Authority (AMLA), which plans to start operations at the beginning of 2023, will focus on the direct supervision of financial sector entities, particularly those with extensive cross-border operations.

Any form of anonymous instruments will also be barred, whether accounts, safe deposit boxes or crypto-asset wallets. Owners or beneficiaries of existing ones must be subject to full CDD measures before they can continue using them in the future. As part of that, companies will also be prohibited from issuing bearer shares and will have to convert any existing ones into registered shares.

---------------------------

Guys, we got until 2023 to get out of the EU.
Click to expand...

man I said it before, but these old f*****s don't understand whatever the f**k they are slapping laws on, like I understand regulating "those with extensive cross-border operations" like a lot of EMIs, mainly wise and the likes, but how do you force owners of anonymous crypto paper wallets to regulate themselves? like are these law makers fucking dumb or what? like P2P transactions already makes these laws useless and cashing out these crypto isn't hard, it can be done in a P2P fashion in small or bigger numbers or you can just purchase various assets with crypto and later sell them for cash if you wanted to. this s**t is easier than feeding a baby in Asia and some parts in the middle east like UAE, Qatar and Bahrain plus some other areas.

Like what the f**k are they trying to achieve? are they after the big dogs in finance and crypto? do they think that these individuals/entities don't have the resources to fight back? ok what about us? do they think that we don't have the resources to move not only our assets but our Asses too to a more business friendly jurisdictions?

I just can't with these sleazy EU idiots man, I hate them with full passion, and I just hope that this s**t storm that's called the EU, got teared to fucking pieces or they just f**k themselves or whatever and leave the rest of the world the f**k alone.

bunch of f*****s, Now I'm going back to sleep.

 

[Marzio]

Your post has the higher density of the word "f**k" per sentence in the entire forum. You should start a hip hop business on the side! 😛

 

[MiddleEuroAsia]

marzio said:
Your post has the higher density of the word "f**k" per sentence in the entire forum. You should start a hip hop business on the side! 😛
Click to expand...

Are you a wizard or something? how did you know? yeah I have a hip-hop business that's called "fuckity f*****s" and it's doing fucking great.

ok, dad jokes aside, I don't shy away from swear words specially when I wake up on bad news that gets on my fucking nerves, but that goes away once I drink my great fucking cup of coffee, and I become much fucking better, and it's a great fucking feeling, that's it.

Anyway, I hope you have a fuckintasting day!

 

[Marzio]

MiddleEuroAsia said:
Are you a wizard or something?
Click to expand...

Yes! I make money disappear LOL

 

[JohnLocke]

countryfree said:
Last year in France, there were bitcoin ATMs where you could sell bitcoins anonymously, up to 1,000 €. They're all gone...
Click to expand...

It's just a small sign of what will happen soon in the EU.

Martin Everson said:
Yes, people better get out of EU before its too late like I have always been saying for years damn_(. Things are moving much quicker than I expected. The EU maybe laying the ground work for introducing a EU wealth tax nai¤%.
Click to expand...

That pretty much say it all.

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[Martin Everson]

MiddleEuroAsia said:
Like what the f**k are they trying to achieve?
Click to expand...

To criminalize dissent from the system they are bringing in.

MiddleEuroAsia said:
do they think that we don't have the resources to move not only our assets but our Asses too to a more business friendly jurisdictions?
Click to expand...

With enhancements to EU Exit taxation good luck moving without being taxed on the way out. In countries like Poland they already do exit tax on personal wealth over a certain threshold. Similar system in Spain and every other EU country will follow sadly 🙁. That's why I say get out while you still can...its not a joke. You are simply not gonna be allowed to leave the EU without losing potentially half the value of your total wealth in worst cases soon. So i.e any declared crypto millionaires (on paper) in Poland are screwed with a big tax bill if they try and leave...lol.

https://www.grantthornton.global/en...impact-on-internationally-mobile-individuals/

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[tyrexoid]

Martin Everson said:
To criminalize dissent from the system they are bringing in.



With enhancements to EU Exit taxation good luck moving without being taxed on the way out. In countries like Poland they already do exit tax on personal wealth over a certain threshold. Similar system in Spain and every other EU country will follow sadly 🙁. That's why I say get out while you still can...its not a joke. You are simply not gonna be allowed to leave the EU without losing potentially half the value of your total wealth in worst cases soon. So i.e any declared crypto millionaires (on paper) in Poland are screwed with a big tax bill if they try and leave...lol.

https://www.grantthornton.global/en...impact-on-internationally-mobile-individuals/
Click to expand...

isn't it easy to lose all 'wealth' in online casino/[your own monero wallets under the hood, cos it's your own anonymous online casino lol], declare bankruptcy in that country (plus throw on top some doctor paper about your mental health of why you lost all money in this casino) and move where you need freely? then later withdraw whatever amounts of monero you need into fiat, if you need some purchases (or just don't withdraw any at all, flip it into any other cryptos that are good to top up crypto credit cards, and use it daily, there are some cards with up to 50k-100k$ limits as I remember, and can top up with crypto). And so on, in a similar fashion of hardcore nonsense fiction 😀 , there are a gazillion ways probably.

But that's just my wild imagination based on Hollywood movies, I'm curious what's the real life situation, with schemes like the above? Is it not something possible and even relatively legal? (like, you can go bankrupt playing casino, why not, it's your choice. If the casino was not owned by any company/person and is an automatic smart-contract, there's no one to even look for, to understand where money went into whose wallets... doesn't even need any monero - the ethereum tornado-cash mixer is enough to make all funds disappear into abyss.. the thorchain DEX for cross chain swaps, and so on...)

I'm like really curious how all this will play out, need a lot of popcorn to watch these reality-shows of how regulators and FBI/etc' will find these people who use such schemes (and pretty sure there will be folks who do that and maybe already are doing. it's just in plain sight, an obvious usage of the above tools to hide wealth from taxes and governments). I would not dare to do something like this even if I had billions though - too scary. In the end the FBI always gets to the "silk road" type of people who thought they were smart and can hide from authorities.

 

[countpinky]

Martin Everson said:
Yes, people better get out of EU before its too late like I have always been saying for years damn_(. Things are moving much quicker than I expected. The EU maybe laying the ground work for introducing a EU wealth tax nai¤%.


"The top 1% wealthiest individuals own around 20%”“25% of total wealth in France, Germany, Spain, and in Scandinavia. This means that a wealth tax levied only on the top 1% wealthiest Europeans would generate a large amount of tax revenue while preserving wealth for the bottom 99%.

Why levy this tax at the European level? First, because this is probably the best level to implement and enforce an effective wealth tax. With a European wealth tax, migration of wealthy taxpayers within the European Union becomes irrelevant (Kleven et al. 2020). Enforcement is facilitated by cross-border bank and tax administration cooperation (Saez and Zucman 2019). Most importantly, a tax at the European level would be a concrete embodiment of European solidarity in the fight against the COVID epidemic. It would shift the discussion about how to pay for the costs of the crisis away from a question of international transfers (across European countries) and instead focus the discussion on transfers across individuals according to their means (irrespective of their nationality). This would overcome oppositions based on selfish national self-interest, and contribute to creating a sense that Europe can indeed work for everyone."


https://voxeu.org/article/progressive-european-wealth-tax-fund-european-covid-response
Click to expand...

Martin Everson said:
To criminalize dissent from the system they are bringing in.



With enhancements to EU Exit taxation good luck moving without being taxed on the way out. In countries like Poland they already do exit tax on personal wealth over a certain threshold. Similar system in Spain and every other EU country will follow sadly 🙁. That's why I say get out while you still can...its not a joke. You are simply not gonna be allowed to leave the EU without losing potentially half the value of your total wealth in worst cases soon. So i.e any declared crypto millionaires (on paper) in Poland are screwed with a big tax bill if they try and leave...lol.

https://www.grantthornton.global/en...impact-on-internationally-mobile-individuals/
Click to expand...

and then, all of a sudden, with no reason whatsoever people elected hitler.
these entitled pricks really are forgetfull of fairly recent historical events and how things progressed.
on a personal note I hope EU and their unelected bureaucrats clique fucking burn and collapse harder than ussr did. fucking commies

 

[Martin Everson]

tyrexoid said:
isn't it easy to lose all 'wealth' in online casino/[your own monero wallets under the hood, cos it's your own anonymous online casino lol], declare bankruptcy in that country (plus throw on top some doctor paper about your mental health of why you lost all money in this casino) and move where you need freely? then later withdraw whatever amounts of monero you need into fiat, if you need some purchases (or just don't withdraw any at all, flip it into any other cryptos that are good to top up crypto credit cards, and use it daily, there are some cards with up to 50k-100k$ limits as I remember, and can top up with crypto). And so on, in a similar fashion of hardcore nonsense fiction 😀 , there are a gazillion ways probably.
Click to expand...

lol

Yes there are ways. But would you want to be looking over your shoulder for the rest of your life. Having a heart attack every time your card is blocked or a transaction rejected as you think they might be on to you 🙁.

tyrexoid said:
I would not dare to do something like this even if I had billions though - too scary. In the end the FBI always gets to the "silk road" type of people who thought they were smart and can hide from authorities.
Click to expand...

Exactly most people would not dare to do this although it might work in principle. I can assure you however that unless you remain totally unbanked, reside in a third world country and remain totally offgrid you will age very quickly due to stress.

countpinky said:
and then, all of a sudden, with no reason whatsoever people elected hitler.
these entitled pricks really are forgetfull of fairly recent historical events and how things progressed.
Click to expand...

Unfortunately history will repeat itself in Europe 🙁. A charismatic Donald Trump type character preaching hatred against the elite and the system will rise in a European country using immigrants as a scapegoat for these unrelated issues. This will need to happen and fail for EU to create new anti-democratic laws to prevent this from happening again for he good of its people 😉.

With good intentions the issue of where EU laws are going in every aspect of ones life will either have to be accepted or rejected by the masses as there will be no middle ground in the future. You either believe in the EU's ever closer integration and abolition of sovereign states, solidarity and an end to individuality or you don't. If you don't get out while you can. If you do believe in the EUSR i.e European Union of Socialist Republics then you will be happy 😛. I actually feel most young people will welcome such a concept of single taxes, single set of rules and one government council for whole of EU.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Silvio]

Martin Everson said:
Unfortunately history will repeat itself in Europe 🙁. A charismatic Donald Trump type character preaching hatred against the elite and the system will rise in a European country using immigrants as a scapegoat for these unrelated issues. This will need to happen and fail for EU to create new anti-democratic laws to prevent this from happening again for he good of its people 😉.

With good intentions the issue of where EU laws are going in every aspect of ones life will either have to be accepted or rejected by the masses as there will be no middle ground in the future. You either believe in the EU's ever closer integration and abolition of sovereign states, solidarity and an end to individuality or you don't. If you don't get out while you can. If you do believe in the EUSR i.e European Union of Socialist Republics then you will be happy 😛. I actually feel most young people will welcome such a concept of single taxes, single set of rules and one government council for whole of EU.
Click to expand...

100%, most young people support this wholeheartedly. The young generation is fully pro-EU, pro-masks, pro everything that their government supported media propagates. They have no own opinion and are too busy with TikTok to think about how their governments steal their freedoms and rights.

It is so rare to talk to a young person that is AGAINST to EU (and in Western Europe it's practically an extinct animal since all of them worship the EU, Merkel, etc).

In the words of Orwell, if you want to imagine the future of Europe: "If you want a picture of the future, imagine a boot stamping on a human face”” forever. ”

 

[JackAlabama]

maxmmm said:
100%, most young people support this wholeheartedly. The young generation is fully pro-EU, pro-masks, pro everything that their government supported media propagates. They have no own opinion and are too busy with TikTok to think about how their governments steal their freedoms and rights.

It is so rare to talk to a young person that is AGAINST to EU (and in Western Europe it's practically an extinct animal since all of them worship the EU, Merkel, etc).

In the words of Orwell, if you want to imagine the future of Europe: "If you want a picture of the future, imagine a boot stamping on a human face”” forever. ”
Click to expand...

Spot on. Most young people in the eu also have a net worth close to 0 and all too often it is even in the deep red.
That also does not bode well.

 

[clemens]

Martin Everson said:
Exactly most people would not dare to do this although it might work in principle. I can assure you however that unless you remain totally unbanked, reside in a third world country and remain totally offgrid you will age very quickly due to stress.
Click to expand...

agree!

Martin Everson said:
I actually feel most young people will welcome such a concept of single taxes, single set of rules and one government council for whole of EU.
Click to expand...

it's scary!

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[Topdev]

MiddleEuroAsia said:
man I said it before, but these old f*****s don't understand whatever the f**k they are slapping laws on, like I understand regulating "those with extensive cross-border operations" like a lot of EMIs, mainly wise and the likes, but how do you force owners of anonymous crypto paper wallets to regulate themselves? like are these law makers fucking dumb or what? like P2P transactions already makes these laws useless and cashing out these crypto isn't hard, it can be done in a P2P fashion in small or bigger numbers or you can just purchase various assets with crypto and later sell them for cash if you wanted to. this s**t is easier than feeding a baby in Asia and some parts in the middle east like UAE, Qatar and Bahrain plus some other areas.

Like what the f**k are they trying to achieve? are they after the big dogs in finance and crypto? do they think that these individuals/entities don't have the resources to fight back? ok what about us? do they think that we don't have the resources to move not only our assets but our Asses too to a more business friendly jurisdictions?

I just can't with these sleazy EU idiots man, I hate them with full passion, and I just hope that this s**t storm that's called the EU, got teared to fucking pieces or they just f**k themselves or whatever and leave the rest of the world the f**k alone.

bunch of f*****s, Now I'm going back to sleep.
Click to expand...

They basicslly want all wallet transfers to be identifiable as it happens in normal banks. In order for exchanges to be compliant they will do it and good buy privacy because they will know the last wallet oit of the exchange and can trace it back to you. If i have a non eu company registered with the exchange do i still need to be compliant?

 

[ih8socialism]

maxmmm said:
100%, most young people support this wholeheartedly. The young generation is fully pro-EU, pro-masks, pro everything that their government supported media propagates. They have no own opinion and are too busy with TikTok to think about how their governments steal their freedoms and rights.

It is so rare to talk to a young person that is AGAINST to EU (and in Western Europe it's practically an extinct animal since all of them worship the EU, Merkel, etc).

In the words of Orwell, if you want to imagine the future of Europe: "If you want a picture of the future, imagine a boot stamping on a human face”” forever. ”
Click to expand...

I think the issue is that the new western generations is spoiled and never faced any bigger issues. Most of them get what they want without having to do anything and this behavior continues when they grow older and they are stuck in their miserable jobs. Why does person X drive a nice car, has a big house, expensive watch and can afford travel first class but instead of working towards that they want the goverment to handle the issue and take away their moeny. If everyone is as poor as me I can not be jealous huh. But these idiots don't get it that if the goverment raises taxes, the poor people won't have more money only the puppets working for the government are profiting from it lol

Sadly my family is still living here in Europe and I can not convince them to move with me to some non EU country.

 

[Topdev]

ih8socialism said:
I think the issue is that the new western generations is spoiled and never faced any bigger issues. Most of them get what they want without having to do anything and this behavior continues when they grow older and they are stuck in their miserable jobs. Why does person X drive a nice car, has a big house, expensive watch and can afford travel first class but instead of working towards that they want the government to handle the issue and take away their money. If everyone is as poor as me I can not be jealous huh. But these idiots don't get it that if the goverment raises taxes, the poor people won't have more money only the puppets working for the government are profiting from it lol

Sadly my family is still living here in Europe and I can not convince them to move with me to some non EU country.
Click to expand...

I understand your perspective. In Malta we feel the situation is similar but adding to that there is over development which is destroying the place. too many people on such a a small island. The situation now is that Malta is life the pirate of the Mediterranean with all the corruption / money laundering cases we have been hearing about. now that we have been grey-listed this will change supposedly, however most people don't care and have no time or the brain to think. despite all this the current party in government has increased support simply because they still did not increased taxes but this is going to change fast after the next election because its not sustainable. I really wish to move out, possibly a Caribbean country with less than 1/10 the population of Malta.

 

[Vor]

Seems the EU doesn't fundamentally understand crypto not sure how they plan to enforce de-anonymizing crypto wallets specifically cold wallets. Exchanges are easy and already are KYC if your talking the big exchanges with FIAT on ramps into crypto. Perhaps failure to disclose results in prison sentence, fines, etc but that doesn't make anyone have to disclose their wallets just means the alphabet boys in all these countries have to find the unreported wallets.