EU is about to end bitcoin anonymity. Price reaction?

[bitscointalker]

The EU’s executive body has promised new legislation in the Spring to make sure the exchanges and users of virtual currency platforms such as Bitcoin are identifiable and traceable.
Seems price of Bitcoin will fall down?

[DimensionZ]

I don't have problems providing my ID when withdrawing to fiat but why would the price of bitcoin fall down this move will make bitcoin more legitimate across Europe and won't be associated only with shady deals over the Internet. I am only worried about paying taxes on cryptocurrencies.

[franky1]

The EU’s executive body has promised new legislation in the Spring to make sure the exchanges and users of virtual currency platforms such as Bitcoin are identifiable and traceable.
Seems price of Bitcoin will fall down?

its all about the FIAT hoarding exchanges.
relax

[xqus]

Time will show. But I don't think so. That can do what they want but there is no way of ensuring all users of Bitcoin is identifiable. They can do what they want with exchanges running in EU but they cannot control the Bitcoin network.

[tiggytomb]

I don't think this is as bad as everyone thinks, one of the things that is holding bitcoin back in my opinion from mainstream mass adoption is the fact that it is associated with a lot of dodgy dealings, I know myself when mentioning it and also when it has been in the news it is never as positive as it should be.

If that stigma of it being 'illegal' can be reduced or removed I would envision a lot more people taking it seriously as a real use currency.

[DimensionZ]

Yeah I second that. If there is a way to trace back all the Bitcoin scammers the image of Bitcoin will be cleared and people will think of it as legitimate Internet money and not like thieves are out there to steal your cash every day because they can.

[rally]

The EU’s executive body has promised new legislation in the Spring to make sure the exchanges and users of virtual currency platforms such as Bitcoin are identifiable and traceable.
Seems price of Bitcoin will fall down?

I think this is a good idea.
If something is legal , the better it is.
Price will not fall because of this i think.

[rally]

The EU’s executive body has promised new legislation in the Spring to make sure the exchanges and users of virtual currency platforms such as Bitcoin are identifiable and traceable.
Seems price of Bitcoin will fall down?

From what source did you read this?
I think that is good news. Legal is better.

[franky1]

I don't think this is as bad as everyone thinks, one of the things that is holding bitcoin back in my opinion from mainstream mass adoption is the fact that it is associated with a lot of dodgy dealings, I know myself when mentioning it and also when it has been in the news it is never as positive as it should be.

If that stigma of it being 'illegal' can be reduced or removed I would envision a lot more people taking it seriously as a real use currency.

+1 shutting down non legit fiat hoarding websites that dont want to follow basic consumer protection rules will clean up bitcoin as a sideeffect.

having basement dwellers who hide behind proxies and hoard millions of euro's of customer funds, should never happen. especially letting them continue long enough to hoard enough to then make the gox/cryptsy claim of hacking.

we need legit and trusting third parties if normal folk are going to get into bitcoin

[Cuidler]

So what difference from current situation? Because I had already send copy of my ID card to validate account at exchange. I worried my ID card could be misused if their database is hacked, but exchanges requesting ID card proofs already or you have to look elsewhere if your worried about someone else misusing your identity...

[franky1]

So what difference from current situation? Because I had already send copy of my ID card to validate account at exchange. I worried my ID card could be misused if their database is hacked, but exchanges requesting ID card proofs already or you have to look elsewhere if your worried about someone else misusing your identity...

if the exchange is registered as a MSB (money service business) then it is asking for data for official reasons that are mandated by the rules of being a MSB.
if its not registered to any financial institution/agency, then who knows what they are doing with the data

[target]

Much as we'd enjoy seeing this news pull the price down, it seem like it didn't. Exchanges and cash out services are already asking IDs even before this news sprouted.
So i don't think this will affect the price as well. try again. 

[coldbound]

I don't expect any reaction.

[LMGTFY]

My guess is that, since the EU is not about to end Bitcoin anonymity (how could they?) - there'll be no impact on price.

[Amph]

My guess is that, since the EU is not about to end Bitcoin anonymity (how could they?) - there'll be no impact on price.

not to mention that the market right now it's not exactly populated by the so called average joe, but more by manipulators, and people that will buy bitcoin no matter what...

[bitscointalker]

The EU’s executive body has promised new legislation in the Spring to make sure the exchanges and users of virtual currency platforms such as Bitcoin are identifiable and traceable.
Seems price of Bitcoin will fall down?

From what source did you read this?
I think that is good news. Legal is better.

 http://fortune.com/2016/02/03/bitcoin-europe-crackdown/
here is the source!
They say "Still, the Paris attacks last November created an atmosphere in which the European Commission must be seen to be doing what it can. For virtual currencies, this is the fallout."
I was wondering whether this could lower the price or increase it.
I do think as you but I was also thinking that anonymity is a plus too to increase the mass adoption of bitcoin, just like cash is for money (whether this is dodgy or not).

[1Referee]

My guess is that, since the EU is not about to end Bitcoin anonymity (how could they?) - there'll be no impact on price.

not to mention that the market right now it's not exactly populated by the so called average joe, but more by manipulators, and people that will buy bitcoin no matter what...

It might even make Bitcoin a bit more popular by the average joe now Bitcoin is being "less anonymous" and thus less "shady". Their worry is that Bitcoin's "anonymity" is the reason why so many criminals are using it. Perhaps their view on this might change due to this "news". Who knows.

[LMGTFY]

The EU’s executive body has promised new legislation in the Spring to make sure the exchanges and users of virtual currency platforms such as Bitcoin are identifiable and traceable.
Seems price of Bitcoin will fall down?

From what source did you read this?
I think that is good news. Legal is better.

 http://fortune.com/2016/02/03/bitcoin-europe-crackdown/
here is the source!
They say "Still, the Paris attacks last November created an atmosphere in which the European Commission must be seen to be doing what it can. For virtual currencies, this is the fallout."
I was wondering whether this could lower the price or increase it.
I do think as you but I was also thinking that anonymity is a plus too to increase the mass adoption of bitcoin, just like cash is for money (whether this is dodgy or not).

The EC is pushing for additional regulation for *exchanges*, Bitcoin anonymity is not under threat. The article is pretty dire (I've read worse though) but it does manage to qualify its breathless "bye bye Bitcoin anonymity" sound bite.

In general, if the EC says something and the media then say OMG EU BAN! - it's bollocks.

[European Central Bank]

By the sound of it you can't fart near a European exchange without having to provide evidence of the food that made the smell so not much is gonna change.

[maokoto]

I think that price is almost always affected by negative news, so yes, I think this will make Bitcoin go somewhat. As others, I do not have problem in providing my info to withdraw to fiat either, or even to use some exchange, if that means protection later when the exchange falls.