The agreement represents the latest update of the EU Anti-Money Laundering Directive and the introduced measures aim to prevent the use of cryptocurrencies in money laundering and terrorism financing.
Nope. This news came out last week, Friday. Here’s more specific on the directive, along with rules not directed at the crypto market.
Specific to exchanges and exchange users, looks mostly about exchanges having to register with authorities and exchange customers having to prove their identities. Smells more of trying to curb tax evasion/avoidance. Side benefit for us traders:
will give citizens the right to access information on the beneficial owners of firms which operate in the EU, could help quash the corrupt use of letterbox companies created to launder money, hide wealth and avoid paying taxes
“… and will be required to introduce customer due diligence procedures, including ID verification.” I thought that one of the points here with the cryptos was the anonymity or am I wrong?
It’s just like with the regulated forex brokers - they will require you to provide an NII or valid ID so that they can comply with the regulations.
However, with crypto - it’s all about the wallets. Get BTC -> trade it to ETH -> then to something else. Send it to an external wallet and cash it out with a non-EU exchange that will not require ID verification and you’re solid. Not to mention that you can use proxies and different payment providers to get your moneyz.
Let me try to explain - you can trace a coin’s transaction history, but you can`t trace at which point that coin has been exchanged for some other type of currency because it’s a different wallet address. To be able to trace it you have to be able to see the exchanges in the blockchain, not only the transactions.
To be fair, they will all (or at least the legit ones) require some sort of identification in order to cash out, but the ones located outside the EU may not share that information with the EU regulators and/or your country’s tax services.
The request is for the financial Conduct Authority (FCA) to start overseeing what we have frequently called “entry level” companies – exchanges accepting fiat currencies payments for the purchase of cryprocurrencies. According to the proposal, this should be done under the existing peer-to-peer finance legislation and not the rules applies for financial market intermediaries.
The Cypriot regulator CySEC also followed ESMA’s mandate and lowered the possible leverage for cryptocurrency CFDs to 1:2 for all brokers that are regulated by them. CySEC also exclusively highlights the fact brokers must mention the risks involved with these complicated assets and even more specifically the high rollover fees.
Really ? I suggest you find and watch a few episodes of “Forged in Fire” ! to see how destructive cold water usually is, to the forging process ! “crack, shatter, break, snap, brittle” !
That’s why when different tempering liquids (and temperatures) are used when forging different metals. It all depends on the chemical composition of the steel. (A bit of a knife nerd here)
There are also different tempering cycles for different hardness levels. Air, water, oil cooling etc. That said - not arguing.
The brittleness is often due incorrect tempering/forging and high carbon content of the steel without enough alloy chemicals, such as W (Tungsten, or wolfram) V (Vanadium) Mn (Manganes) , Si (Silicon) , Mo (Molybdenum) etc.
I’ve never done that, although I do have aspirations in that direction - but I doubt I’ll ever get around to it - especially since possession of a knife is now a criminal offence here in UK !
If you’re a collector - it’s fine. As long as you don’t carry them around, or if you do - they should be in the package and you must have the purchase receipt with you (to prove that you’ve just purchased the knifes and are just transporting them).
I think the latest restrictions were:
No blade lock (lock-knife)
Cannot be open with one hand
Blade lenght less than 3 inches long (7.62 cm)
My data may be old. - here’s what I found Selling, buying and carrying knives - GOV.UK
So, in general that would limit you to some kind of a Swiss knife.
