The European Commission (EC), which is the executive branch of the European Union (EU), confirmed a new proposal today, calling for stricter regulation of anonymous cryptocurrency wallets and transactions. Earlier in July, leak reports suggested that the Commission would be moving forward with a harsher crackdown. Today's announcement confirms it.

“Today’s amendments will ensure full traceability of crypto-asset transfers, such as Bitcoin, and will allow for prevention and detection of their possible use for money laundering or terrorism financing,” said the Commission in its press release. “In addition, anonymous crypto asset wallets will be prohibited, fully applying EU AML/CFT rules to the crypto sector.”