Cryptocurrencies are becoming increasingly popular, and more businesses are planning to support them - and that's when the European Commission steps in

The European Commissioner for Economy, Paolo Gentiloni, has announced plans to prohibit anonymous cryptocurrency transactions and wallets within the EU, a move that is stirring quite a bit of controversy in the crypto world. The goal of this initiative is to reduce risks associated with money laundering and scams that persist in the cryptocurrency sector. The European Commission aims to enforce regulations that will require cryptocurrency service providers to verify the identities of their users. These actions come in response to the growing interest in the cryptocurrency market and the threats that accompany it. However, critics of this proposal argue that it may deter investors and users from engaging with blockchain technology, which offers many benefits such as security and transaction speed. The discussions around these regulations point to a broader trend of governments trying to find a balance between innovation and risk management in the rapidly evolving world of digital currencies.