Starting July 1, 2027, the EU will ban transactions involving anonymous wallets and privacy-focused cryptocurrencies like Monero and Zcash under the new Anti-Money Laundering Regulation (AMLR), aiming to eliminate illegal activities facilitated by untraceable digital assets, and subject Central Banks to direct AML supervision.
They could target payment processors that handles crypto, but they can’t prevent anyone from receiving payments in crypto. You don’t actually need a payment processor to receive crypto. All you need is a wallet to send or receive.
You can look into “stablecoins”. But the volatility doesn’t really matter for the merchant, as they can usually sell the crypto immediately upon the purchase by the customer.
It’s not just about the processor fee, though I don’t know why the hell you would use stripe when they’re one of the outfits screwing over itch right now. It’s about the fees to convert into crypto for the buyer, and convert out of crypto for the seller.
… Which will result in prices for games fluctuating wildly, and their entire storefront having to tell people how to by crypto from shady places.
Stuff like FedNOW and Wero are a better solution which bypass payment processors entirely.
That really depends on the crypto being used and you can buy crypto from non-shady places lol
If adult content moves to crypto, won’t that result in Collective Shout and friends targeting the big crypto marketplaces?
At least in the us, crypto bros have a stranglehold on a number of politicians on right and left. Its unlikely to be banned or hindered unilaterally.
I have bad news for any privacy coins
https://coinedition.com/eus-new-legislation-to-ban-monero-zcash-and-non-kyc-wallets/
… I don’t have any trust that the US government will do anything pro-lgbt, pro-freedom-of-expression or pro-women.
Oh I don’t either, I just don’t think they will touch crypto. I don’t think it’s a good thing that they won’t touch crypto though.
They could target payment processors that handles crypto, but they can’t prevent anyone from receiving payments in crypto. You don’t actually need a payment processor to receive crypto. All you need is a wallet to send or receive.
As far as I’ve seen they all fluctuate wildly, is that not the case with some?
You can look into “stablecoins”. But the volatility doesn’t really matter for the merchant, as they can usually sell the crypto immediately upon the purchase by the customer.
I mean there tends to be overhead and fees that are greater than most other payment processors, no?
This is the big reason I haven’t even tried paying via crypto:
€ ➡️ bitcoin ➡️seller
Every step has huge costs that make no sense if there’s an alternative around. And mostly require a large minimum. Nope!
stripe has a 1,5% fee for crypto transactions. Dunno if that’s a lot or?
It’s not just about the processor fee, though I don’t know why the hell you would use stripe when they’re one of the outfits screwing over itch right now. It’s about the fees to convert into crypto for the buyer, and convert out of crypto for the seller.