EU Plans Comprehensive Asset Registry to Combat Money Laundering, Terrorism Financing, and Russian Threats

Jul 23, 2024, 08:47 PM

The European Union is planning to implement a comprehensive asset registry for all its citizens, aimed at combating money laundering, terrorism financing, and Russian threats. This proposed database would require the registration of all assets, including bank accounts, real estate, precious metals, cars, works of art, shares, and crypto. The move has sparked significant concern among citizens and commentators, who view it as a step towards increased surveillance and control. Critics argue that this could lead to potential privacy violations and asset confiscation, with some suggesting it is a measure to bail out central banks. The proposal is seen by many as draconian and reminiscent of authoritarian practices.