lyuda_kozlovska on Nostr: On behalf of the BTC Coalition, we are recommending MEPs to vote AGAINST the #EU ...
On behalf of the BTC Coalition, we are recommending MEPs to vote AGAINST the #EU #AMLR proposal and urge you to join our call for three main reasons:
1. EU WILL DEVASTATE CROWDFUNDING FOR ACTIVISTS AND HUMANITARIAN NGOs
NGOs barely receive funds to support human rights or humanitarian aid.
#Crowdfunding, including the use of #Bitcoin in self-hosted wallets, is the last resort.
What is the EU doing?
In the post-Trilogue AMLR draft, all possible crowdfunding platforms, including based on crypto-assets and serving humanitarian purposes, designated as intermediaries, are considered as high-risk ever-evolving Money Laundering and Terrorist Financing (ML/TF) channel.
In practice this means fewer and fewer donations, because of:
🔻increased administrative & operational costs,
🔻reduction of the donor base due to invasive due diligence processes,
🔻reduced financial inclusion of smaller entities and projects that traditionally rely on crowdfunding.
The AMLR does not take into account the broader negative impacts on society, resulting in the obstruction or even halting of social, entrepreneurial and humanitarian initiatives. 1/5
Published at
2024-04-23 19:21:01Event JSON
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"content": "On behalf of the BTC Coalition, we are recommending MEPs to vote AGAINST the #EU #AMLR proposal and urge you to join our call for three main reasons:\n\n1. EU WILL DEVASTATE CROWDFUNDING FOR ACTIVISTS AND HUMANITARIAN NGOs\n\nNGOs barely receive funds to support human rights or humanitarian aid.\n\n#Crowdfunding, including the use of #Bitcoin in self-hosted wallets, is the last resort. \n\nWhat is the EU doing? \n\nIn the post-Trilogue AMLR draft, all possible crowdfunding platforms, including based on crypto-assets and serving humanitarian purposes, designated as intermediaries, are considered as high-risk ever-evolving Money Laundering and Terrorist Financing (ML/TF) channel.\n\nIn practice this means fewer and fewer donations, because of: \n🔻increased administrative \u0026 operational costs, \n🔻reduction of the donor base due to invasive due diligence processes,\n🔻reduced financial inclusion of smaller entities and projects that traditionally rely on crowdfunding. \n\nThe AMLR does not take into account the broader negative impacts on society, resulting in the obstruction or even halting of social, entrepreneurial and humanitarian initiatives. 1/5 https://image.nostr.build/0d03b04e7e6d710c26a31d864561afcd336b4f470d5fdd514f52dbec91e82224.jpg ",
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