Bitcoin Forum

The EU hates digital currency do you think the EU will ban bitcoin but that will be a big problem. ???

LOL
That's not true. Why do you think like that? EU accepted Bitcoin, but they just want to regulate it's anonymity. In Europe there is so much Bitcoin-Euro live exchanges.

Michael Jackson hates bitcoin too. He never said it but that's my opinion so I'm going to say it with nothing to back it up. The EU is not even a thing that can hate 'bitcoin' anyway, how can a collective of countries hate a virtual currency? Some people in the EU will hate bitcoin, others will not.

Germany and France are anti bitcoin.

http://www.telegraph.co.uk/technology/2018/02/09/france-germany-demand-bitcoin-clampdown/

They are even calling for a cooperative regulation among countries. They are the most vocal among the EU countries but I don't think that other nation will listen to them. I guess this is going to be a long war.

But we all know that bitcoin is unstoppable at this point, If you are going to go against it. Then you will be left out. And I'm sure that even though that their might be some EU countries that will ban it, their citizens will find a way to engaged themselves in trade or investment.

That is absolutely true. The EU governments plan to regulate cryptocurrencies, including bitcoin, amid concerns they are being used for money laundering. government is planning to crack down on bitcoin as concerns grow that cryptocurrencies are being used to facilitate financial crimes and launder money. The Treasury is planning new legislation that will mean anti-money laundering and counter terrorist financing rules apply to cryptocurrency in future.

New legislation will bring cryptocurrencies in line with anti-money laundering and counter terrorist financing legislation by increasing transparency. It will include rules forcing traders to reveal their identities in some circumstances. Under an EU-wide plan, online platforms where currencies are traded will be made to carry out due diligence on buyers. The UK government is currently negotiating amendments to the fourth anti-money laundering directive that will bring virtual currency exchange platforms and custodian wallet providers into anti-money laundering and counterterrorist financing regulation, which will result in these firms' activities being overseen by national competent authorities for these areas.

We have clear tax rules for people who use cryptocurrencies, and like all tax rules, these are kept under review. We also intend to update legislation to bring virtual currency exchange platforms into anti money laundering and counter terrorist financing regulation. Industry players want the same thing as politicians - cryptocurrencies that offer cheap, frictionless, international transactions used for legal purposes. If anything, regulation will only increase bitcoin's rate of growth as regulation lends credibility and engenders trust

hhaha yes

Not only the EU, but all whose banks lose their huge profits against bitcoins and crypto-currencies. But they will not be able to prohibit the crypto currency. Crypto currency is a decentralized payment system and does not belong to any of the states ...

Bitcoin is a success. I dont think any country will say no to this kind of investment, there are a lot of races that are hooked up with bitcoin today and still managing the best out of it.

Mario Draghi, president of the European central bank said it's not their task to ban cryptocurrencies. Maybe France and Germany want strong regulations, but that does not mean the EU hates bitcoin. There are several other European countries that accept cryptocurrencies.

Can you give examples where and how the EU hates bitcoin? In most countries I know bitcoin is legal and several exchanges are located within the EU. Why would the EU hate crypto currencies if they are legal and exchanges are regulated? This does not make any sense! Or do you have info that they plan to introduce new laws to prohibit it? Do you have contacts to Brussels?

EU just want to regulate bitcoin to have control of it for the protection of their people but that does not mean to ban bitcoin because more people from EU are using bitcoin.

No country hate bitcoin or any form of cryptocurrency, they are only trying to see the negative effects of it as its very easy to launder huge fund and also cryptocurrency can be used be terrorism since the transaction is anonymous...

As I know from my friends from EU they plan do make strong regulations and taxation but never ban or prohibit crypto or bitcoiin at all.
Also they have to consider how the other countries, especially on the EU borders regulate using and taxing crypto, because they know they will loose this market if they
make too high taxes!  

Not really. Not the whole EU at least. Maybe some of the countries yes, but it is like any other crypto-regulating crypto in the world. Just don't think that this will have any impact on the project. The most important is the idea behind blockchain.

A load of BS. The EU wants to put in place legislation so they prevent people from going to a coin where they cannot tax who is using it. Furthermore : they are affraid that any money policy will fail in the future, when people have a way out.

The EU :
- wants to be able to trace your money.
- countries, like mine let you pay 33% taxes on any gains.

Yes, they hate it. Like I said before it disrupts their power to control money and to tax money.

No they won‘t. The EU said they accept Bitcoin as a currency not an investment like the us does so why would they ban it now?

Why do you think that European Union is against Bitcoin? As far as I know, they didn't state anything that could harm cryptocurrencies. In fact, they said that they won't bother and they are not going to regulate them. It is quite surprising and I guess it will change soon. Many governments are unsure what to do with Bitcoin, some consider it as a huge threat to the current financial system but some see the opportunity to make a lot of money on miners and commissions.

Ban and regulate is two differetn thing.. First you should read some more articles before you post something like that and than you can look at EU law.. It's not just that simple ;)

I don't think they have any reason to hate bitcoin so why would they ban it but if what you are saying is true, another DIP will happen and it will be a huge problem for the whole crypto community.

it's sad bad true.. and ultra-simply..governments and banks hates everything they can't controls..

http://metro.co.uk/2018/02/14/price-bitcoin-ethereum-ripple-surges-european-central-bank-dismisses-cryptocurrency-ban-fears-7311566/
There you go buddy, I hope this changes your views towards EU's relation with cryptocurrency. OP shouldve put any supporting facts or link to an article to atleast prove what he has been saying.

I think your statement is quite exaggerated, and there is no reason to fear a crypto ban from the European Union. I do agree that there are some euro countries that don't really like bitcoin, and examples of that are France and Germany, but even though they are quite strong in EU, they don't make decision alone. Even if they did, EU is not China, and even though EU might be called the old continent, they are much more liberal than China. All Europe wants is regulation, just like the United States, and most developed countries. They will not try to shut down bitcoin, because they wouldn't be able to do it, even if they wanted to, because in those countries people still have a word to say.

I believe their main concern is tax evasion, as taxes are what keeps the governments there executing their political models that generate a good repercussion on the media. It's very clear EU doesn't like Bitcoin, their regulators keep saying all the time Bitcoin and Crypto-Currency in general is a very risky investment, they try to demoralize Crypto-Currency maximum as possible to spread fear among people to not invest on it.

Bitcoin is unstoppable, indeed, but sometimes these obstacles make Bitcoin lose a lot of time and potential on short term.

Can you please try to explain it a little bit more?

I lived on the EU and they have never had any problems about cryptocurrencies in general (and it was on the last year)..

OP is generalizing it. There are countries in EU who hates Bitcoin. He can name those country but he didnt, instead he generalize it, and drop a vague statement without any supporting facts. Its true that every Government and banks doesnt like things that they cannot control, but that doesnt mean they will automatically implement a ban.

all governments and banks hate bitcoin. until they have it themselves, and then they don't.

Firstly, there is every reason for majority of governments not to like bitcoin and other cryptocurrencies. Bitcoin will reduce if not take away their gripe of economical control of thousands of people. However, European Union's actions and inactions will for sure influence bitcoin's price but it will not kill it.

We all knowm how big or the power European Union has. They got a very large influence in terms of its economy. But even though they got such thing doesn't mean they could be at a great manipulation of bitcoin yet we all know that no one or any governance is manipulating bitcoin that leads to banning.

Governments don't like Bitcoin because it's something that they can't control and Bitcoin doesn't give any advantage to the country, so it's normal to say that EU hate Bitcoin, but it's only the feature that the government hate not the currency, once it's regulated they will accept and try to adopt crypto currencies since crypto currencies also help the people to get a better life and provide the job opportunities

The state works for the state, and states already got coins controlled by them , at this stage crypto is a challenger for fiat not a substitute yet.

That is not true. From did you find this or why you say this ? Based on what ? I think we need to see the reality and that is every one is starting to using cryptos.

Governments don't like Bitcoin because they can't control it? Correct. Governments don't like Bitcoin because it doesn't bring any advantages to their economy? Wrong. Bitcoin provides gigantic growth potential.

Great example of this is that Belarus and Spain have started to offer startups and other business related to crypto very friendly growing possibilities with much lower tax rates, where in some cases they are exempt from tax entirely.

It's just a matter of accepting it to grow within your country, which is something that will happen gradually. Countries will at some point not have a choice but to hop on board ~ eat or get eaten!

     Well, obviously not all EU really does hate bitcoins just yet. Others are still turning a blind eye to it and just waiting for the next steps of other countries having bitcoins being illegal all over the world will be a very long and hard process. This is simply because of the fact that crypto currencies as a whole has already come to a point that it is almost invincible or unstoppable. This is what other countries have or have not understood which is why they ban or legalize bitcoins. Anyways, whatever happens, I for sure won't be leaving bitcoins.

Yes - but places outside the EU like Switzerland, and soon, the UK, are in favour of bitcoin, and the EU will start to fall behind in yet another tech area if they give into French and German demands. Lets wait and see if the other EU members push back at France and Germany.

That can make a big deal if the European Union forbids bitcoin, because it can cause bitcoin prices to fall sharply, but sometimes I think it's sometimes the drama of a bitcoin price game on the market. Hopefully the news is just a running issue.

they have every interest in blocking cryptos but they are aware that they can not do it ... and then so they will try to recycle themselves
and their control system to protect their status quo  by creating a virtual but centralized currency ... Like ripple for example

I'M not understanding as what i see is causing great confusion for me , as European governments are saying it needs more regulation as its now becoming a tool of money laundering, drug trafficking and terrorist funding and as such they will be proposing joint regulation for bitcoin.Then comes steven Maiijoor who is chairman of the European securities and markets authority who during an interview with Bloomberg that investors should be prepared to lose all their money should they choose to invest in bitcoins , whats confusing me is this since its a tool for all these activities that are illegal and steven says anyone who invest in it must be prepared to loose everything would it not then make things easier for our security as these money launders, drug traffickers, and terrorist would be broke based on what mr maiijoor is suggesting so why would it then be necessary for the European governments to propose regulations as it will crash and die  according to the securities chairman, its clear to me that everyone knows bitcoin is the future and is here to stay and even Europe who tends to want to be unique and apart in there financial matters is being invaded by bitcoins so this is just another reaction to discredit and limit bitcoins but as we have seen so far there is no sopping bitcoins.

The eu's decision not to make the BTC is illegal, and the eu is only planning to make a law requiring encrypted currency trading platforms and wallet suppliers to confirm customer information.

The aim is to avoid tax evasion and money laundering or financing for terrorist activities.

This is a positive signal to better regulate BTC. To prevent wrongdoers from doing illegal things!

I would have understand this is if would have come from a Paki or Filipino shit poster that has never seen Europe in real life nor can it point it on a map.

But from somebody (based on your former posts) living in the Netherlands this is beyond comprehension.
Further more, it seems you actually have no clue what the EU is, although you live here.

The EU can't ban it without all of the countries voting for, in this case a simple majority is not enough.
And it will never pass.

Right now the EU and Europe are the most friendly Union / Continent for BTC

The French is like a dog, chasing their own tail. These EU countries opened their doors for imigrants from all over the world and now they stuck with problems associate with these actions < Money laundering / Drug trafficking / Terrorism funding >

After all the terrorist attacks in France, it is easier for governments to scare their people. They will use this as a scare tactic to force people to give up some "freedom" that they would not have done, prior to these attacks. < A lot of fud are being spread about Bitcoin and terrorism funding, to get people to give up their rights. > 

Recently, the PNC bank threatened one of its customers, buying bitcoin. Barclays closed the student account after his transactions in bitcoins. British banks generally avoid cooperation with companies using crypto currency - that step forces them to open accounts not in the UK but in Gibraltar, Poland and Bulgaria. Anson Zella, head of the Singapore Cryptocurrency and Blockchain Industry Association or Access, said his organization received complaints from 10 companies that faced problems with Singapore banks.

Do you have any proof of this claim? Can you cite the news sources where they have explicitly said that bitcoin is banned from them? Because I think that aside from Asia, the EU or the European union would be one of the first places that a digital currency would be embraced. It is important to note that this countries are advanced and may have the capacity to integrate bitcoin to their economy

Glad to hear your opinion, I think EU had more serious problems to deal before hating or worry about bitcoin (es. immigration?)

they eventually want to introduce measures to regulate and even there was recent news from BCE about EU banks in the future to store cryptos assets!

This is happening in every countries around the world now as bitcoin legalization and implementation of tax rules for bitcoin being tested, not only EU but i think every superpower countries hate bitcoin as they tried to banned it at first to stop overflowing tax evasion money outside their own countries but then they realized that they can't banned it so instead they tried to regulated it by implementing tax law

First if they regulate crypto currency it does not mean they hate it actually the  more obvious reason for regulation is they want to get their cut. If they are going to earn something from crypto currency  then i am pretty sure they will fall in love with bitcoin. The money that it can produce for the government will be big.

Now for the terrorist and money laundering, yes it is possible that this criminals are using bitcoin or crypto currency and creating a law is a must. This type of people should rot in jail and law enforcements can not do that if there are no law in existance.

Do you have any evidence to prove it or is this just your opinion? We would like to see facts.


Regulation doesn't mean that they are actually hating Bitcoin. Regulations are necessary to integrate the new blockchain technology in our society and make it more secure overall.

yes, should the OP should prioritize the analysis first before it actually makes a post. I just want to advise on OP
for the future try to find references and analyze before actually making the discussion material in this forum.

I don't see that, OP can give more facts to support your argument?

Some EU countries, like Poland, seems not to be very friendly with BTC; but others I would say it's not bad.

Why do you think that EU hates it? And what do you mean under hating?

I don't think the eu will ban bitcoin. They just want better supervision of bitcoin, which makes bitcoin transactions more standard, and worries about the impact of bitcoin on domestic economic development.

This is not an accurate question
We can easily misunderstand this issue ：Some EU member states have proposed that international regulation be required ,This is to be discussed in the G20 meeting next month
But it can not be directly assumed that the EU banned bitcoin,The EU plays an important role in the blockchain world as an important part of blockchain technology,I dare say that "Siemens" in the next blockchain is about to be born ;D
Countries need to stabilize financial markets, regulation is necessary,I believe most community friends will agree

hello ,The_prodigy ,Korea Japan as a part of Asia,Already considered in front of the regulatory
Blockchain has actually developed rapidly in Asia,I am from China so I understand what you mean ;)
What a country needs is financial stability,So bitcoin will not be banned,Even in our country,There are other words in the government's development plan that support blockchain technology
We will know the result next month's G20 meeting,I am not against you, but Asia is also an important part

I dont think EU hates digital currency, for in fact they are trying to regulate the trades in cryptocurrency to avoid anonymity of it. They support cryptocurrency but it is security that they are concerned of because cryptocurrency could also be used in crimes like drug business and financing terrorism.

from which you assume about the EU, please provide me the references you have read. it seems you are wrong and judge, yes. your knowledge is still very shallow
try to find more knowledge about crypto and bitcoin in this forum.

Banks and governments are now realising that crypto currencies are here to stay it is their biggest competitor now and anything they can do to keep control they will do.

They can't control how it is taxed how it moves from person to person without a form of regulations, I'm sure we will see this in years to come.

A lot of countries in EU are accepting bitcoin, and it is not illegal, as EU law do not prohibits it. Why do you think that it hates Bitcoin?

as for A Member of Executive Committee of European Central Bank Yves Mersch. He warned the entirely speculative nature of bitcoin’s value was a cause for concern. He also Warned banks investing in cryprocurrency because the risk it have taken/carried. But he include that some process of bitcoin should be undertaken, means EU are not hating bitcoin but they should normalize or regulate it so that it can not be use in funding terrorist or in money-laundering.

That may be your opinion but please you need to back it up with facts such as citing links!
Try and read this artile where UK (a member of EU) noted "cryptocurrency industry as being severely misunderstood by mainstream institutions" thus the establishment of Crypto UK trade Body. Enjoy reading and hope this changes your opinion and perspective. hehehe

 https://news.bitcoin.com/seven-companies-form-uk-cryptocurrency-trade-body/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

Who said they hate Bitcoin? Do you have any relative source about this?

That really is not true buddy! there are a lot of articles that spreads good news with regards to acceptance of Bitcoin and other cryptos in the member states of EU. And yes, I am totally in agreement that any claim of heavy density should be backed with sources by citing articles or publications. Such as the one posted here and quoted

From all I have read, countries like France and Germany have nothing against crypto currencies, in contrary.
But they want regulations. One statement of their finance ministers is the following:
"Tokens and their potential for financial innovation should not be left to those who make the worst use of them."
To me that shows how much they appreciate crypto currencies. But they have recogniced as well that many scammers use them.

Whoa, not all of EU hates the presence of bitcoin, bud.
There are a lot of projects running already that using bitcoin and cryptocurrency as their base until now, even there are new projects as well!
If you are referring EU as Germany or France, so yes, they are "not-that-pro" with bitcoin. But it doesn't mean that all EUs are against bitcoin. At least put a reference so you aren't considered as FUD spreader.

They say that EU has followed the development of bitcoin, but it has not issued any regulation of the legality or acceptance. So, it's a not a reaction of hate :)

germany and france.. aka most criminal countries in eu.

Hi,

Actually... I understand your feeling... But it is hard to simplify that way. Just because the economic, political situation is highly different from one "European" country to another.

Yet, what is true is that the leading European countries (Germany, France and the UK, even though the latter have a strange status) are against crypto. They need to keep control over their currency, that's always how they have used their fiat power. So creating a currency allowing people to be anonymous and get rid of their control.. is a real nightlare for them!

But again, as in any other country, and even though the territory is large, I think such ban is impossible to set up!

Do you read what you post?

In the article it states how they are calling for further regulation to limit money laundering and counter terrorism financing. This is not a battle against cryptocurrencies, it is a battle against money laundering and terrorism.

This is like the argument that guns should not be regulated because it takes someone to fire a gun. The gun facilitates someone being able to harm another, just like cryptocurrencies are facilitating illegal activities. Regulating one or the other is not a statement of being anti guns or anti cryptocurrency.