Summary
European Commissioner McGuinness announced an EU-wide limit of 10,000 euros for cash payments to mitigate risks associated with large sums of money. They are also addressing risks posed by cryptocurrencies and their anonymity.
Key Points
1. The European Union is implementing a cash payment limit of 10,000 euros to mitigate risks associated with large sums of money.
2. The EU is also addressing risks posed by cryptocurrency and its enabling of anonymity.
3. Mairead McGuinness, European Commissioner for Financial Stability, Financial Services and Capital Markets Union, emphasized the importance of these measures during a press conference on the decision.