Bitcoin And Privacy Under Threat From New EU Regulation

In 2024, the European Parliament adopted the revised Anti-Money Laundering Regulation, despite opposition from groups including the Building True Change (BTC) Coalition. The regulation classed crowdfunding platforms, self-hosted wallets and mixers as high-risk, and the article argues that it removed protections against financial exclusion for immigrants, dual citizens and others.

Seth Hertlein of Ledger criticised the deletion of Article 41(a) as evidence that member states prioritised surveillance. Lyudmyla Kozlovska of the Open Dialogue Foundation, coordinator of the BTC Coalition, said authoritarian regimes rely on established banks rather than bitcoin wallets, pointing to Western banks operating in Russia. The article also sets out the view of supporters, who see the regulation as closing gaps exploited by criminals, and cites UN estimates that between $800 billion and $2 trillion is laundered each year.