Privacy

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EU moving towards total monetary surveillance and banning all anonymous payments (lemmy.ml)

submitted 8 months ago* (last edited 8 months ago) by makeasnek@lemmy.ml to c/privacy@lemmy.ml

153 comments fedilink hide all child comments

How to contact your MEP: https://www.europarl.europa.eu/portal/en/contact

Source: https://snort.social/nevent1qqsvcedd6dg39eh6633uqqff0p9h2zqyhu3zd6kwyyhzqj7da02x4pszyqe2wpknmwkyd0t295d5ezvtaxr00ngxjtcfuct8pfvyec3snckpwqcyqqqqqqgz2f7lp

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[–] onlinepersona@programming.dev 1 points 8 months ago (2 children)

How do you even ban anonymous crypto? It's anonymous 😅

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[–] BreakDecks@lemmy.ml 11 points 8 months ago (1 children)

If you have €50,000 worth of Monero, they can't know and won't care. If you transfer it to someone else you'll be under the radar. If you try to cash out your Monero, they'll find out and you're in deep shit. Monero is worthless to most people if you you can't exchange for fiat.

[–] onlinepersona@programming.dev -2 points 8 months ago

It's not a problem to get large sums of money out of money:

create a foundation, allow donations, get a few donations in monero, tada
spread it out to friends and family, let them take out the money in cash, receive money

Probably if you are able to fly to a country where there's lax rules on crypto exchanges and residency, you can get an address there, sign up for an exchange and get the monero out in that currency. I'm sure if you asked a tax advisor how "optimize taxes" they'd give you a bunch of financial instruments to "not launder" money.

Honestly, these laws will probably mostly apply to people with large sums of money most normal people wouldn't dream of transferring anonymously.

CC BY-NC-SA 4.0

[–] sugar_in_your_tea@sh.itjust.works 6 points 8 months ago

This is for businesses, and businesses are required to have proper accounting and audits.