EU is about to end bitcoin anonymity. Price reaction?

[n2004al]

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 don't see why. Even most of the bitcoins are used at the dark web and such kind of people want to remain in full anonymity. But bitcoin is regulated in the same or almost the same way even in other countries (including USA) and these actions were not reflected at all at the price of bitcoin when was made. So I do not see the reason why this time may be different.

These action were waited and will be even more frequent in the future. If the most developed countries make such kind of regulations soon or later every other country follow those. And I think that these action only can make stronger bitcoin and its status in every country in which are made.

[1714858238]

1714858238

[1714858238]

1714858238

[1714858238]

1714858238

[1714858238]

1714858238

[1714858238]

1714858238

[1714858238]

1714858238

[Ruzka]

Well when this news was released the other day which has now had time to get around the price actually increased by about $30 so there was a small reaction but not what you would have thought and that price has come back down a little now but still higher than pre news.
This does not bother me at all and in fact it is probably a good thing to keep track of the exchanges and hopefully make them accountable.
There can still be p2p trades if people still want anonymity while buying so where is the problem?

[BruceLee007]

For years, the Bitcoin economy has operated in relative freedom from the hand of state governments. With the EU’s proposals, that era may be coming to an end.Its a very bad , but in USA its okey!

[LMGTFY]

For years, the Bitcoin economy has operated in relative freedom from the hand of state governments. With the EU’s proposals, that era may be coming to an end.Its a very bad , but in USA its okey!

In what way is it OK in the US but not in the EU? It seems to me that there is nothing being proposed here that isn't already implemented in the US.

[Amph]

For years, the Bitcoin economy has operated in relative freedom from the hand of state governments. With the EU’s proposals, that era may be coming to an end.Its a very bad , but in USA its okey!

in usa it's not okey, there are even more contorl about exchange and stuff, take new york for example it was even removed by anymajor exchange, and now they operate only with gemini exchange, due to heavy restrictions about bitcoin

if all these regulation will help bitcoin grows among those average joe i'm fine with it, but i will avoid it like the plague

[lumeire]

As for us the average users, we shouldn't be that badly affected at all, so there's no reason to panic.

That being said it wont affect the price as much as the current block size issue does.

[Snorek]

If EU create some kind of anti bitcoin law then it will be only respected in EU zone. What will stop people from using Russian or Asian Exchanges?
All they achieve by pushing that unfavorable law is situation when bitcoin trading will move outside EU.

[~Bitcoin~]

Even with that law people can easily buy and sell stuffs for bitcoin without exchanging that for fiat. I don't think there will be any price reaction for this.

[LMGTFY]

If EU create some kind of anti bitcoin law then it will be only respected in EU zone. What will stop people from using Russian or Asian Exchanges?
All they achieve by pushing that unfavorable law is situation when bitcoin trading will move outside EU.

Well, some, perhaps most, trade on EU exchanges will continue - for the same reason that some, perhaps most, US residents continue to use US exchanges - regulation makes them feel they're safer. But yes, people who don't want to give up their anonymity will simply trade outside the EU (or trade OTC - as far as I know this proposed measure doesn't affect localbitcoins).

[kpitti]

There is a already request to provide ID Card to validate your account in EU Exchange. I do not see any difference.
There will be price reaction on such preauction if Bitcoin is mainly used because of anonymity by some black market activity.

[quadriple7]

I think it's only to remove bitcoin from black markets, price might fall a little bit down, but not alot, it will be better for everyone except black market users

[ingiltere]

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?

First, they can't do that, even if they try they couldn't block anonimity %100.
Second, there is no source for that news. Show us the source if you say something reasonable.

[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?

First, they can't do that, even if they try they couldn't block anonimity %100.
Second, there is no source for that news. Show us the source if you say something reasonable.

It's FUD, but like all good FUD it has some basis in reality:

http://ec.europa.eu/justice/criminal/files/com_2016_50_en.pdf

The tl;dr version is: European exchanges will be subject to AML/KYC, bringing them in line with exchanges in the US.

I guess "Bitcoin exchanges: European-US harmonisation imminent" doesn't have quite the same ring as "EU is about to end bitcoin anonymity". Though it does have the advantage of being factually correct. I live in the EU and this will affect me ... not at all.

For laughs, here's what price has done since this shocking announcement.