[2017-01-01] The European Union Wants to Identify Bitcoin Users

[tyz]

The European Union Wants to Identify Bitcoin Users

The European Parliament and the Council of the European Union have proposed amending a directive on preventing money laundering and terrorist financing that will require cryptocurrency exchanges and wallets to identify suspicious activity, a directive that would include identifying bitcoin users.

https://www.cryptocoinsnews.com/the-european-union-wants-to-identify-bitcoin-users/

[valley365]

The European Union Wants to Identify Bitcoin Users

The European Parliament and the Council of the European Union have proposed amending a directive on preventing money laundering and terrorist financing that will require cryptocurrency exchanges and wallets to identify suspicious activity, a directive that would include identifying bitcoin users.

https://www.cryptocoinsnews.com/the-european-union-wants-to-identify-bitcoin-users/

Same as US government, IRS, and all governments and banks. They want to know how you spend, where are the money flow, and all details. For bitcoin it will not be that easy, but if they issue their own cybercurrency, they can do that.

[LLec]

The European Union Wants to Identify Bitcoin Users

The European Parliament and the Council of the European Union have proposed amending a directive on preventing money laundering and terrorist financing that will require cryptocurrency exchanges and wallets to identify suspicious activity, a directive that would include identifying bitcoin users.

https://www.cryptocoinsnews.com/the-european-union-wants-to-identify-bitcoin-users/

Same as US government, IRS, and all governments and banks. They want to know how you spend, where are the money flow, and all details. For bitcoin it will not be that easy, but if they issue their own cybercurrency, they can do that.

Yes Coinbase has started doing this to help the U.S to identify those bitcoin users that they suspect as money laundering.
So this was expected to go down the lines all the way to the EU sooner or later. With all the terrorism coming out of France and Germany lately.

[tyz]

If this is really enforced in the form as wished, then many will go for anonymous alternatives. Monero, Dash, ZCash etc. In the end, it will be a cat-and-mouse game where users will always win. The good thing about this technology is that you can never really control it. The technograts in Brussels, Washington and elsewhere in the world will yet have to learn this.

The European Union Wants to Identify Bitcoin Users

The European Parliament and the Council of the European Union have proposed amending a directive on preventing money laundering and terrorist financing that will require cryptocurrency exchanges and wallets to identify suspicious activity, a directive that would include identifying bitcoin users.

https://www.cryptocoinsnews.com/the-european-union-wants-to-identify-bitcoin-users/

Same as US government, IRS, and all governments and banks. They want to know how you spend, where are the money flow, and all details. For bitcoin it will not be that easy, but if they issue their own cybercurrency, they can do that.

[LLec]

If this is really enforced in the form as wished, then many will go for anonymous alternatives. Monero, Dash, ZCash etc. In the end, it will be a cat-and-mouse game where users will always win. The good thing about this technology is that you can never really control it. The technograts in Brussels, Washington and elsewhere in the world will yet have to learn this.

The European Union Wants to Identify Bitcoin Users

The European Parliament and the Council of the European Union have proposed amending a directive on preventing money laundering and terrorist financing that will require cryptocurrency exchanges and wallets to identify suspicious activity, a directive that would include identifying bitcoin users.

https://www.cryptocoinsnews.com/the-european-union-wants-to-identify-bitcoin-users/

Same as US government, IRS, and all governments and banks. They want to know how you spend, where are the money flow, and all details. For bitcoin it will not be that easy, but if they issue their own cybercurrency, they can do that.

But they will do it eventually as the price has attracted those bureaucrats where their is money to be made you know they are in the trenches just waiting to pounce and attack it.
They will regulate it one way or another. That is inevitable and eventually will happen.

[BellaBitBit]

As Bitcoin continues to grow in price and adoption this will be the story everyday, countries and local governments doing what they can in attempt to regulate or control Bitcoin and identify users.  It is my understanding that the basis of the Bitcoin invention was for it not to be regulated or controlled, we are all our own bank and control it within.  There will always be fraud and it seems a shot in the dark to attempt to control something decentralized.

I support paying taxes that are due from profits of bitcoin but do not support governments attempting to turn it into another surveillance method.

[Karartma1]

This matter has always been something I can hardly understand. Imagine we could be able to trade in BTC only (i.e. never exchange them for fiat money) what will be my position then?
Bitcoin goes beyond any regulation we can think of and until that's not clear my coins will never be exchanged. Also because they have a huge intrinsic value to me.