So it shouldn't come as a surprise that the typical blabla terror bla drugs and crime bla money laundering blabla claims were ingrained in this statement.
Exchanges must under this new law also report anyone sending Crypto valued above 1000 Euros to the government, so that they can keep us all safe and free. If you believe that, you can stop reading now and start working on your wish list for Santa. If you have more questions than answers, watch this, the video itself is a bit long but immediately gets down to the point in the first ten minutes:
Only point to note is that there actually is a widely used alternative to SWIFT banking these days named SPFS, developed on orders from Moscow at the height of tensions between Nato and Russia regarding Syria, but it's only used in Eurasian banks so would a Western bank be cut off from SWIFT, it indeed would be the end for them since no other banks in their country would be using alternatives to SWIFT, so even if they tried to survive using another system, they couldn't even transfer a digital payment from 2 people living in the same street using different bank branches. How practical huh? And they still wonder why people flock to Crypto ;)