Bitcoin Forum

SWIFT Institute Research Claims Bitcoin Won’t Be Regulated Soon

n the wake of the latest terrorist attacks, the EU requests to regulate digital currencies in an attempt to stop terrorism financing. It was reported that ISIL, a terrorist organization responsible for bombings in Paris, is widely using Bitcoin for funding their operations, though this has yet to be proven.

Last week, the above-mentioned EU request was formalized at a meeting in Brussels, reports Reuters. According to a joint statement of the meeting, the ministers urged the Commission to “strengthen controls of non-banking payment methods such as electronic/anonymous payments, money remittances, cash-carriers, virtual currencies, transfers of gold or precious metals and pre-paid cards in line with the risk they present.”

The statement is nearly identical to that reported in the draft document, with the noticeable additions of money remittances and cash carriers. The final text also calls for measures to stop the illicit trade of cultural goods such as stolen art works, reads Finance Magnates.

However, a new research conducted by the SWIFT Institute states that The European Union won’t regulate the cryptocurrency in the nearest future.

According the report, the revised Directive on Payment Services (PSD2) and the fourth European anti-money laundering directive (AMLD4) demonstrate not enough plausible arguments to include Bitcoin under the EU’s current legal frameworks. The report states:

http://www.coinspeaker.com/2015/11/28/13437/

No proof.

The New York Times reports: "In the largest bank holdup in recent memory, ISIS operatives reportedly stole up to $400 million in cash. Flush with money, ISIS will have the resources ". By this logic,  you have to ban every currency.