Click here to petition your MEPs

Summary

On the 31st of March, the European Parliament will vote to limit cryptocurrencies such as Bitcoin and the rest through the Transfer of Funds Regulation. If European Parliament approves these regulations, centralised exchanges will have to report transactions exceeding €1,000 from self-hosted wallets (e.g. paper wallets, Ledger devices, Trezor, etc.) to the authorities, even though the transactions aren’t suspicious.

If the rules pass, exchanges will require collecting, verifying, and reporting before allowing transfers to and from self-hosted wallets.

The European Union tried to censor Bitcoin by limiting proof-of-work inside the bloc. The economic and monetary affairs committee shot down the proposal.

Unlike banks where law enforcement agencies require a court order and cooperation from foreign jurisdictions to obtain records to investigate suspicious behaviour, cryptocurrency transactions are recorded PERMANENTLY on a public blockchain.

Unknown to a few MEPs, software exists to track suspicious crypto behaviour. The Ukraine Government so far received over €55 million worth of donations in cryptocurrencies.

If this concerns you, take action by doing one of the following:

Option 1 – Coinbase initiative (Easiest)

Coinbase is simplifying the process – Click here to continue.

If the form in the link doesn’t work then use Option 2. Option 2 is more effective than Option 1.

Option 2 – Send an email to your country’s Members of the European Parliament (More effective)

Step 1 – Find your country’s MEPs email address

We suggest sending an email to all the MEPs of your country. You may copy and paste their email addresses from the grey box below into your email client (Gmail, Outlook, etc.). Please use the BCC (Blind Carbon Copy) if you’re going to email multiple MEPs at once.

If you reside in Malta you may use the list below.

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If you reside in any other EU country, follow this link and select your country to get your MEPs’ email addresses – https://www.europarl.europa.eu/meps/en/search/advanced

Step 2 – Email subject

We suggest using the following subject for your email. You can copy/paste.

VOTE AGAINST the latest oppressive surveillance proposals in the Transfer of Funds Regulation

Step 3 – Email email

We suggest using the following content for your email. You can copy/paste.

Dear Sir / Madam, 

The recent crypto updates to the Transfer of Funds regulation are anti-innovation, anti-privacy, and anti-law enforcement.  A vote in favour of the latest proposals would stifle the future of innovation, irreparably harm individual privacy, and hinder law enforcement throughout the European Union.

The rationale that crypto assets are increasingly used by criminals is false.  Research has demonstrated that criminals prefer cash to hide their illicit activity.  Moreover, crypto assets give law enforcement a better way to recoup funds than cash ever could.  These proposals would put the EU out of step with both the rest of the world and the Financial Action Task Force, the global money laundering and terrorist financing watchdog.    

The latest version targets every crypto holder for increased surveillance without any explanation.  The GDPR has made the EU a global leader in privacy law and policy, enshrining individual rights of transparency, choice and control over one’s personal information. These proposals would eviscerate that work.  

The proposals would require that exchanges collect, store, verify, and report an unprecedented amount of information about people’s financial transactions, including non-customers.  Whether I am paying for coffee, donating to a refugee fleeing from persecution, or sending money to a family member abroad, these proposals assume I am suspicious merely because I used crypto.   

The EU can effectively regulate crypto without imposing these unsupported and oppressive measures.  I urge you to not act hastily and vote against the latest Transfer of Funds Regulation draft.

Regards,

{Your first and last name}

Option 3 – Send your MEPs a Facebook message

If you reside in Malta, please click on the links below to contact your MEP.

• Mr Alex Agius Saliba – https://www.facebook.com/alexagiussaliba
• Mr David Casa – https://www.facebook.com/DavidCasaMEP
• Ms Josianne Cutajar – https://www.facebook.com/joscutajar
• Mr Cyrus Engerer – https://www.facebook.com/engerer.cyrus
• Ms Roberta Metsola (now President of the European Parliament) – https://www.facebook.com/roberta.metsola
• Mr Alfred Sant – https://www.facebook.com/alfredsantpage

If you reside in any other EU country, follow this link and select your country to get your MEPs’ Facebook link – https://www.europarl.europa.eu/meps/en/search/advanced