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160 sats \ 5 replies \ @k00b 30 Jun 2022 \ on: The EU has reached a deal on the TFR (AML rules) (P2P excuded, verification needed only when transfer > 1000€ from exchange to priv. wallet) bitcoin
My fear is that if we don't get people using P2P sooner rather than later, this kind of oversight will be what's considered normal.
Seems this regulation gives an incentive to do peer to peer since the 1k Euro limit dont apply. But requires it gets enforced properly. Also curious what EU definition of P2P is
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The press release says:
The rules do not apply to person-to-person transfers conducted without a provider, such as bitcoins trading platforms, or among providers acting on their own behalf.
Apparently for EU p2p happens when there's no provider. That would just be crypto meetups, I guess?
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You are still going to use LN or BTC to transact. Arent a hop along your route a provider? arent the miners that include your transaction if its on.chain a provider?
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OK, I've found the following in the Article 3 of a MiCA draft:
(8) ‘crypto-asset service provider’ means any person whose occupation or business is the provision of one or more crypto-asset services to third parties on a professional basis; (9) ‘crypto-asset service’ means any of the services and activities listed below relating to any crypto-asset: (a) the custody and administration of crypto-assets on behalf of third parties; (b) the operation of a trading platform for crypto-assets; (c) the exchange of crypto-assets for fiat currency that is legal tender; (d) the exchange of crypto-assets for other crypto-assets; (e) the execution of orders for crypto-assets on behalf of third parties; (f) placing of crypto-assets; (g) the reception and transmission of orders for crypto-assets on behalf of third parties (h) providing advice on crypto-assets;
and they further define what all of that means.
Based on this, I believe that neither miners nor LN nodes are CASPs. However, LN nodes that offer swaps between Taro tokens and plain sats are definitely CASPs.
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That sounds bad.
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