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<ul class="news-points">
 <li>The EU proposes a centralized asset register to track and manage assets.</li>
 <li>It aims to combat money laundering and verify assets linked to sanctioned individuals.</li>
 <li>Panayiotis Nicolaides voices support for the initiative.</li>
</ul>
The European Union is exploring a controversial proposal to establish a centralized “Asset Register,” a comprehensive database designed to track citizens’ assets across the bloc. This <a href="https://www.brusselsreport.eu/2021/08/30/european-commission-investigates-the-idea-of-an-eu-asset-registry/" target="_blank" rel="noopener noreferrer nofollow">initiative</a> aims to combat money laundering and terrorist financing, but has also raised concerns on privacy and data protection.
The proposed register would encompass a wide range of assets, such as real estate, bank accounts, securities, vehicles, art, and precious metals. The final list will be determined based on the outcomes of a feasibility study and subsequent legislative decisions.
Following Russia’s war against Ukraine, leaders from the EU, Canada, and the United States formed a transatlantic task force to implement financial sanctions. To better monitor illegal monetary transactions, the EU proposed an <a href="https://finance.ec.europa.eu/publications/anti-money-laundering-and-countering-financing-terrorism-legislative-package_en" target="_blank" rel="noopener noreferrer nofollow">interconnected asset register</a> that would serve all its member states.
The initiative aims to help national authorities verify assets or safe deposit bo…
The post <a href="https://coinedition.com/eus-controversial-asset-registry-proposal-sparks-privacy-debate/" rel="noopener noreferrer nofollow">EU’s Controversial Asset Registry Proposal Sparks Privacy Debate</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

EU’s Controversial Asset Registry Proposal Sparks Privacy Debate

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