EU seeks tighter control over cryptocurrency

[Denker]

All the big exchanges inside EU are doing KYC and AML for years now.
Nothing new here and I don't get what are you worrying about.
Ban our baby and all the stuff goes underground.Good luck fighting it.
I'm not worried in the slightest.Not one bit!

[Maesters1-]

i am not agree with you. i think these are just false statements. i think  if china and japan even Russia has not control over crypto currency then how can EU have. i think is not possible.

[SuperCoinGuy]

Actually I am not worried about these changes because I am accustomed to providing my identification documents upon checkout for many years now and adhering to the identity checking policies of different companies is not such a big pain in the butt anyways. Of course Bitcoin is supposed to be anonymous and promote the freedom of money but governments have rules in place to follow the flow of money and Bitcoin although digital money still falls into this category and officials need to investigate the origins of money coming from Bitcoin deposits and withdrawals. I would love to see more over-the-counter selling of Bitcoin vouchers without the need to provide personal ID for purchase though.

[serjent05]

I think it's not only EU that seeks tighter control over cryptocurrency cashout,  Even in my country, the site that once don't need any of your identities now requires government released ID's,  your home address and  then a selfie of you holding your government ID.  They informed their users that these things were done in compliance of the government anti-money laundering law.  Kinda annoying but you can't fight with it since it is the easiest and safest way to cashout BTC to fiat in my country

[wuvdoll]

Well this was bound to happen sooner or later. I kind of expected that the government would try to control cryptocurrencies as well just as how they control their own countries' currencies. And if they can't control it, they'd go against it.

The article however gave some valid points such as to prevent funding of terrorist activities, money laundering and tax avoidance.

[gentlemand]

The wording is quite specific. In terms of wallets it's 'custodial' which I assume means they control the private keys. Blockchain.info and friends won't be affected.

[PokerFace3]

Reading the websites it is a good idea to stop the most of the terrorists activities by imposing tighter rules over Cryptocurrency. But the sad part is most of the terrorism government themselves is involved. By the way bitcoins are meant to anonymous so, it will be very difficult to regulate bitcoins and get control over it.

[tobacco123]

I think with May as our PM the UK will be effected by this aswell.

I think she is now too busy on the Brexit issues and she will not have the time to actively working on cryptocurrency regulation for the time being.