Europe wants to ban blockchain technology?

[Tyrantt]

This is one of the reasons I'm against Serbia joining EU. EU lost it's use after it became, basically a 4th Reich. But I really doubt that this will be changing anything and it's one year from now, bitcoin won't be stopped like this. and also I don't think EU will last that long considering that it's slowly falling apart.

Europe is sinking deeper and deeper, day by day.

[MainstreetLP]

This isn't at all what the article is saying. Besides, by 2018 I believe these sorts of regulators will see the significant benefits blockchain ads to their objectives. The current attitude is typical of new technologies from regulators.

[aron.t]

I dont think someone could shut down blockchain technology

[deisik]

This is one of the reasons I'm against Serbia joining EU. EU lost it's use after it became, basically a 4th Reich. But I really doubt that this will be changing anything and it's one year from now, bitcoin won't be stopped like this. and also I don't think EU will last that long considering that it's slowly falling apart.

Europe is sinking deeper and deeper, day by day.

So why are you against Serbia joining the EU exactly?

Just in case, Serbia (and Greece, to a degree) had been the only Balkan country fighting the 3d Reich during WWII for real. In fact, the EU has been the 4th Reich since its very inception, the successor to the Holy Roman Empire with Germany as its back-bone. Great Britain, on the other hand, had never been an integral part of this structure, that's why they got off so cheap

[Rinder]

You must be kidding. Why in the hell would Europe want to ban an innovative technology like this?
That is just hitler like of them coming onto communist motives to block out progression of their people.

Fear from the EU Banks are the mastermind behind this audacity.

I dont know why banks would be behind this as they in the general are interested at blockchain technology, looks like they do pretend to tax bitcoin on the next years, but who will let them trace the coins we do have? I wont let they know my coins ammount never, im scared to some group joins to attack bitcoin holders to steal their coins.

[kryptqnick]

Whoah, I hope this won't really happen. It is natural they want to do so, right? They are used to have control under everything and predict the economical development. How can they do it when there is something anyone can use and pay 20 000 satoshi but no additional taxes? And yet I'm thinking.. If they do shut it down.. Is it possible for something else to appear instead? Or is it truly the end of bitcoin then?

[Kevin77]

This is really not a good news for blockchain and I hope this does not happen. But recently only swizz and Paris started accepted Bitcoin so why would they do it now. It's not a good move and will effect so many people who have investment in it. Or is it cause their currency is getting lowered a step to revive it.

That is really not a good news for blockchain, but I think it is not so easy they must think about this for several time as they are going to cutoff themselves from a new emerging currency of the world which is going to be accpeted by all the countries of the wrold in future.

[Milkduds]

I could see a push to ban bitcoin but not the technology,it would fly in the face of advancement in technology.
They would have some push back from areas that they would not even be taking into account,such as similar products that banks are planning to use.
Do not see this as being to big a problem as it will take a majority in Europe to get this pushed through.

The chance of this happening are less than the EU falling apart and the latter seems to be more likely at this time.

[markj113]

I have always said when the (central)banks are ready to launch their own crypto currencies bitcoin would be banned.

Bitcoin was just the alpha build and we are just the stress testers.

[Ryan Dugan]

I have always said when the (central)banks are ready to launch their own crypto currencies bitcoin would be banned.

Bitcoin was just the alpha build and we are just the stress testers.

Link: https://news.bitcoin.com/europe-power-ban-blockchain/

The European Securities and Markets Authority (ESMA) is responsible for promoting investor protection, orderly markets and financial stability. At a blockchain conference last week in London, Patrick Armstrong, Senior Risk Analysis Officer, detailed ESMA’s approach to blockchain technology. One strategy he noted was to ban blockchain products or processes altogether.

Explain to me please how you ban technology ? You cannot it is impossible. You can not take an idea from someone.
You can hurt or kill them burn their house but you can never take education knowledge and ideas from someone.

NP government would do this it would start a war. I wouldn't wanna live in a shithole world that bans technonogies I would rather fight for my rights.

Way over 1000 activity and yet you say stupid thongs like that ?

[countryfree]

If Europe chose to ban something, it should ban websites telling false news to scare people. There are rules regarding Initial Public Offerings, accounting and access to capital markets, and those rules change with time, but most of them aren't applicable to BTC. Europe may tighten again KYC and AML regulations, and that may concern exchanges, but BTC and blockchain tech are safe.

[The_Dark_Knight]

You must be kidding. Why in the hell would Europe want to ban an innovative technology like this?
That is just hitler like of them coming onto communist motives to block out progression of their people.

Fear from the EU Banks are the mastermind behind this audacity.

Because bitcoin is a threat to their own experimental coin, the euro, but don't worry if they ban bitcoin or blockchain technology then that only means the new developments in the cryptocurrency world are not  going to happen in Europe and they are going to be missing the benefits that come with it.

[ArticMine]

As it seems that quite a few haven't actually read the article (or did and are blinded by some sort of vendetta against the EU), I'll clue in anyone still reading in: they aren't planning to ban blockchain technology.

“When confronted with a financial innovation, a regulator can roughly take one of three approaches,” he explained.

The first approach, which Armstrong called the “restrictive approach” is to ban or restrict products and processes based on blockchain technology.

This being any financial innovation. They are simply listing the ways they approach any changes in the financial world.

However, Armstrong confirmed that ESMA is not considering this first approach. “We can rule out the first restrictive approach,” he said, citing that the authority does not see blockchains posing risk to its three objectives; stability, protection and integrity.

This thread (and especially it's title) is simple fear mongering, even more so than the article. The chances of anything happening to Bitcoin in relations to EU bans and/or regulations is minuscule, especially considering the current political, societal and to some extent economic situation of the European Union.

I agree. The thread title is nothing but fear mongering. If people actually read the article, they wil find that the speaker indicated three possible approaches, one of which was banning blockchain technology, which was promptly dismissed. .It must be said thought that the article itself is fear mongering also with the following in bold:

Do you think ESMA will exercise its power to ban blockchain tech? Let us know in the comments section below.

[ipanks]

if europe wants to ban blockchain technology then i think it will not good for them because before they make this statement, i am sure that they can see the positive of blockchain technology. the main problem of blockchain technology until now is the lagging of transaction, and i think many economic people don't want to waited too long for just make one transaction. just imagine if one transaction sometimes need almost one hour to complete, what will happen with the economic and the people itself? but if blockchain technology can develop for fast transaction in future, then i think many government will think twice about this technology.

[gribble]

Yea... because of Adoption Mainstream of Chain Block, Bitcoin and other cryptocurrencies has been hampered by problems related to ease of use, negative public relations and application methodology, among other factors.

Blocking chain is a distributed book technology that P2P commerce supports without the need for a central function of the market. Although better known as the infrastructure that Bitcoin is, potential use cases are emerging in a number of sectors, including utilities. Blocking the chain is attractive to companies, so it is necessary to speed up transaction times, remove centralized control on the market, reducing the cost of conducting transactions and ensuring trust between different parties.

Despite the above benefits the widespread adoption of technology has not yet been achieved. There are cases of testing by a few banks and a number of government agencies around the world, but in the broader perspective, Blocking the chain and associated elements will integrate.

[dunfida]

As it seems that quite a few haven't actually read the article (or did and are blinded by some sort of vendetta against the EU), I'll clue in anyone still reading in: they aren't planning to ban blockchain technology.

“When confronted with a financial innovation, a regulator can roughly take one of three approaches,” he explained.

The first approach, which Armstrong called the “restrictive approach” is to ban or restrict products and processes based on blockchain technology.

This being any financial innovation. They are simply listing the ways they approach any changes in the financial world.

However, Armstrong confirmed that ESMA is not considering this first approach. “We can rule out the first restrictive approach,” he said, citing that the authority does not see blockchains posing risk to its three objectives; stability, protection and integrity.

This thread (and especially it's title) is simple fear mongering, even more so than the article. The chances of anything happening to Bitcoin in relations to EU bans and/or regulations is minuscule, especially considering the current political, societal and to some extent economic situation of the European Union.

I agree. The thread title is nothing but fear mongering. If people actually read the article, they wil find that the speaker indicated three possible approaches, one of which was banning blockchain technology, which was promptly dismissed. .It must be said thought that the article itself is fear mongering also with the following in bold:

Do you think ESMA will exercise its power to ban blockchain tech? Let us know in the comments section below.

To those words youve said it gives me a relief though that this news regarding on banning blockchain is dismissed since i cant really believe at first  that banning blockchain is possible in any way.If its dismissed already then it means they cant really do it and thats a good news because theres no threat already on bitcoins adoption on some places on the world.

[bitkilo]

news.bitcoin.com is officially added to my news site shitlist with this new title they chose for their article because it has nothing to do with banning blockchain technology and i have seen other articles from them that were worthless click baits.

The title of this thread is not the same title bitcoin.com used in their article, this thread is misleading.
The title they used was: Europe will have power to ban blockchain tech in jan 2018

As mprep mentioned They are simply listing the ways they approach any changes in the financial world.
Read the article.

[Kakmakr]

Is this true?If this is
really true thats a sad news.

No it is not true, and people are lazy to read. Take the time, read the article and then come back and post something constructive. The EU knows Crypto currencies are here to stay, it is now part of the financial system. They have a duty to protect the consumers, if something is perceived as a threat. < Imo Fiat and the banking sector is the biggest threat, and they did not lift a finger to stop them >

Bitcoin and Crypto currencies will just be regulated to protect consumers, but a blanket ban will achieve very little.

[Hazir]

news.bitcoin.com is officially added to my news site shitlist with this new title they chose for their article because it has nothing to do with banning blockchain technology and i have seen other articles from them that were worthless click baits.

The title of this thread is not the same title bitcoin.com used in their article, this thread is misleading.
The title they used was: Europe will have power to ban blockchain tech in jan 2018

As mprep mentioned They are simply listing the ways they approach any changes in the financial world.
Read the article.

This kind of thread title is totally misleading and is more of a click bait + FUD than anything else.
I am more afraid that in January 2018 we might not have European Union in current state.
Seeing how fast legal structures of EU are degenerating I wouldn't be surprised to see see further splits.

[Sir Legend]

Bad news for bitcoin. I am sure this will not reduce the interest of the users of bitcoin. May be a worry if bitcoin when passing the Euro official Europe currency.