EU Crackdown On Bitcoin

[malikusama]

It is not unexpected at all, and it isn't a "crackdown" just a regulation of bitcoin to remove it's anonymity so that no criminal hide behind the addresses of this network and from the law. I don't disagree with the points highlighted here that the bitcoin has also been used negatively all across the world in different criminal activities e.g money laundering, because the huge amount of money which has been pushed into the market during this year seems amazing but quite alarming as well.

[Baofeng]

https://youtu.be/xS-eWwwmcoo

It's just unbelievable what's coming out of the mouths of these people. Terrorism, money laundering? Banks have had a monopoly of those for a long time, now a more transparent technology came out, they'd start accusing it of those crimes?

Considering that these bankers has also talked about removing the insurance in bank savings accounts, it just strikes me as revolting for them to say all these. If people felt secured with their money these banks are holding and then loaning away with massive interests, then maybe people wouldn't feel the need to find other ways of keeping their money.

Sigh, guys, they've finally taken notice and has become more serious now. The battle has begun

Doesn't surprise me at all. EU has been against and feeling threaten by bitcoin and cryptos. And they all makes excuses and covered everything by throwing the terrorism, money laundering issues to really ban bitcoin in any form.

The battle has began months ago. Although criminals has the intent to hide their resources and foot prints using crypto's, but I don't need a outright ban is needed for bitcoin.

Just try to keep an eye on an exchange or have a proper regulations around it will do. A total hammer ban is not needed. But let's see we all know that its really hard to stop bitcoin and crypto's now. Its has began. Next year will be another big year for us. It's gonna be like a cat and mouse game moving forward.

[posi]

Yes, the battle has just begun because the bankers and their shareholder are not really with how bitcoin turn out by gaining people attention and trust. However, the so called Terrorism, money laundering etc. Have been right before bitcoin creation and now are blaming it all on bitcoin just because of it decentralized in nature.

[innocent93]

https://youtu.be/xS-eWwwmcoo

It's just unbelievable what's coming out of the mouths of these people. Terrorism, money laundering? Banks have had a monopoly of those for a long time, now a more transparent technology came out, they'd start accusing it of those crimes?

Considering that these bankers has also talked about removing the insurance in bank savings accounts, it just strikes me as revolting for them to say all these. If people felt secured with their money these banks are holding and then loaning away with massive interests, then maybe people wouldn't feel the need to find other ways of keeping their money.

Sigh, guys, they've finally taken notice and has become more serious now. The battle has begun

The bell started to make noise. This are good news, after all we are waiting that Eu do something about cryptocurrency, and i like the part with the laundry money by the banks, what will they do? Will EU shut down all the banks?? I don't support dirty money but i liked the fact that she stand up for the bitcoin.

[emoji00]

https://youtu.be/xS-eWwwmcoo

It's just unbelievable what's coming out of the mouths of these people. Terrorism, money laundering? Banks have had a monopoly of those for a long time, now a more transparent technology came out, they'd start accusing it of those crimes?

Considering that these bankers has also talked about removing the insurance in bank savings accounts, it just strikes me as revolting for them to say all these. If people felt secured with their money these banks are holding and then loaning away with massive interests, then maybe people wouldn't feel the need to find other ways of keeping their money.

Sigh, guys, they've finally taken notice and has become more serious now. The battle has begun

With the kind of hidden project that Europe has regarding the protection of bank deposits, I think that the banks are kind of loosing the race.

[Idrisu]

"The battle has began" I do believe bitcoin is going to silent they month by providing financial solutions and proofing to them that bankers are the criminals,  funding terrorism and funding political unrest. We have been with the issues of terrorism before the advent of bitcoin and others cryptocurrency and bitcoin system is the most adopted now because of the decentralized nature of it system and how people has started finding out that bank is a fraud .

[darkangel11]

It's just fear mongering. They are afraid of what they don't understand and trying to scare the public so they won't invest and lose money (potentially).
To understand the EU you have to really know it and how it operates. It's ruled by leftists like Macron and Merkel, who are slowly running it to the ground. Merkel with her suicidal tendencies to make Germany the multicultural center of the world and Macron who's openly saying he would like to be the president of Europe...
I've read that the predictions for the EU aren't good because it's slowly dividing into the East and the West, especially that the only answer EU has for the countries that don't support it's migration policy is to vote for sanctions. We'll soon have a Hungarexit, Polexit and so on

Bitcoin is inevitably going to survive in Europe simply because the Euro will keep getting weaker and weaker. Just wait for another country to leave the Union and you'll see how its currency dives.

[Bolt Brownie]

That argument has been used over and over again, but it's going no where. We already had reports from FBI saying that the concern of the possibility of money laundry with bitcoin is minimal. They are the ones that are in a good position to make these statements, so I don't think people will take those accusations from banks seriously.

[TheCoinGrabber]

The title is a bit misleading, sounds like it’s not really a “crackdown,” just more surveillance on exchanges. There’s a similar law that could be passed here in the US. Keep in mind that this wouldn’t even effect Bitcoin itself, only people who use exchanges (although that does probably include most users).

Yes, there is the slippery slope fallacy that this is the first of many regulations (and believe me, I really keep my eye on regulations that could be the beginning of much more that they appear; in both Bitcoin and otherwise); however here in the US Bitcoin itself is protected under the first amendment (in theory at least, since software is protected), and I think it would be a stretch to try to regulate/ban Bitcoin itself in Europe (I’m not talking about exchanges, but Bitcoin Core itself)

I took the thread title from the headline itself though. Who knows, maybe they are more sympathetic in RT?

What I can't accept is all the talks about terrorism and money laundering, which traditional banking has shown time and time again to more adept with. Also, it could go more beyond exchanges as they start tracking more and more of your transactions.

I don't live in the US but if bitcoin is regarded as a currency, can't the government just decide to "prevent" its use? After all, there would be no diplomatic issues.

[stronghands4lyfe]

Haha good luck? I mean they can try finding out what happens with bitcoin but it will be hard to track not to mention if you get into some anonymous coins. They seem like they are a year or two behind and I am not worried by these empty threats. They are meant to make the weak sheep pay up but if you hodl strong you should be fine.

[Tabanta]

Of course rich people are scared, since cryptos can reshuffle the distribution of wealth. So they try to badmouth them in public.

[emoji00]

Of course rich people are scared, since cryptos can reshuffle the distribution of wealth. So they try to badmouth them in public.

Oh, well not much a suffle, there is still a large part of the world that are too concerned with eating and have no money to invest even if the returns are large.

[syberwolfen]

It is not unexpected at all, and it isn't a "crackdown" just a regulation of bitcoin to remove it's anonymity so that no criminal hide behind the addresses of this network and from the law. I don't disagree with the points highlighted here that the bitcoin has also been used negatively all across the world in different criminal activities e.g money laundering, because the huge amount of money which has been pushed into the market during this year seems amazing but quite alarming as well.

Yes we need to take this as a learning curve and take these regulations as a feedback and try working on it to remove the anonymity of address which we use to transfer funds as there are lsome serious money laundering is happening and also nowadays even hackers and criminals have started demanding their ransom in bitcoin which makes it one of the most favorite channel of money for criminals so if we can work on it then it will.be a win-win situation

[audaciousbeing]

https://youtu.be/xS-eWwwmcoo

It's just unbelievable what's coming out of the mouths of these people. Terrorism, money laundering? Banks have had a monopoly of those for a long time, now a more transparent technology came out, they'd start accusing it of those crimes?

Considering that these bankers has also talked about removing the insurance in bank savings accounts, it just strikes me as revolting for them to say all these. If people felt secured with their money these banks are holding and then loaning away with massive interests, then maybe people wouldn't feel the need to find other ways of keeping their money.

Sigh, guys, they've finally taken notice and has become more serious now. The battle has begun

You really don't expect that bitcoin would be given a smooth pass just like that without any form of resistance and even that they will come against it with all the things they have got? When all the terrorism and money laundering is being defeated, the next is the volatility just like the way the stock of a company was suspended because it was related to crypto and its stock price witnessed some massive increase in price as being read earlier in the day.

The battle has always been there and its not going to go down while a lot of government agencies are trying so hard to discourage the it's adoption. Banks talking about removing insurance of customers deposit is just trying to run away from responsibility and not to be held liable for their errors I see no reason why they can't just allow bitcoin so we keep our private key ourselves with even the need for banks.

[TheCoinGrabber]

You really don't expect that bitcoin would be given a smooth pass just like that without any form of resistance and even that they will come against it with all the things they have got? When all the terrorism and money laundering is being defeated, the next is the volatility just like the way the stock of a company was suspended because it was related to crypto and its stock price witnessed some massive increase in price as being read earlier in the day.

The battle has always been there and its not going to go down while a lot of government agencies are trying so hard to discourage the it's adoption. Banks talking about removing insurance of customers deposit is just trying to run away from responsibility and not to be held liable for their errors I see no reason why they can't just allow bitcoin so we keep our private key ourselves with even the need for banks.

True, they'd always find some flaw about it that would require regulation. Its very essence runs contrary to the existing gov't-monitored financial system.

Well, those in the EU still have 18 mos before these regulations come into play anyway. Still enough to move funds away from those vultures. Though I suppose once regulations take effect, they are going to take note of any incoming btc on the registered accounts in exchanges so it might be harder to encash them.

Looks like the ministers are concerned enough about crypto and want to make bitcoin one of the topics in the next G20 summit.  https://youtu.be/_r9heYdnlMo?t=2m15s

[pokeronlinestatus]

https://youtu.be/xS-eWwwmcoo

It's just unbelievable what's coming out of the mouths of these people. Terrorism, money laundering? Banks have had a monopoly of those for a long time, now a more transparent technology came out, they'd start accusing it of those crimes?

Considering that these bankers has also talked about removing the insurance in bank savings accounts, it just strikes me as revolting for them to say all these. If people felt secured with their money these banks are holding and then loaning away with massive interests, then maybe people wouldn't feel the need to find other ways of keeping their money.

Sigh, guys, they've finally taken notice and has become more serious now. The battle has begun

They are doing everything in their power just to stop bitcoin because they are all now threaten that their former supremacy will be erase in the future but i just  wondering that why these banks in EU is so much tense about bitcoin existence? Unlike banking here in Asia specially here in our country are supporting the bitcoin investment. In fact they are in partnership with our local exchanges.

The problem is that if bitcoin is more profitable to consumers and less to the bank owners, so no big bank would like that bitcoin should be given the chance to excel.

This problem will remain there until the super powers will start talking about the crypto currencies their respective senates to either legalize it completely or partially. Because neglecting the fact that crypto currency will take over is not in their interest either.

[farhaan]

https://youtu.be/xS-eWwwmcoo

It's just unbelievable what's coming out of the mouths of these people. Terrorism, money laundering? Banks have had a monopoly of those for a long time, now a more transparent technology came out, they'd start accusing it of those crimes?

Considering that these bankers has also talked about removing the insurance in bank savings accounts, it just strikes me as revolting for them to say all these. If people felt secured with their money these banks are holding and then loaning away with massive interests, then maybe people wouldn't feel the need to find other ways of keeping their money.

Sigh, guys, they've finally taken notice and has become more serious now. The battle has begun

Well the terrorism and money laundering angle is hardly new. We don't know exactly how much Bitcoin is being used for these purposes, but I feel that the concern is at least somewhay valid. You might say that fiat could be used the same way, and I absolutely agree, but fiat is regulated.

Bitcoin is in the spotlight right now, for both the general public and regulators. You are correct that this is the beginning, for better or worse.

Yes.Even though,fiat is also used for such purposes,it could be traced easily.But since bitcoin transactions are pseudo anonymous,government authorities suspect that it would be used more for illegal purposes.That's why,they try their best to regulate bitcoin exchanges.

I think that regulation is much better than completely banning bitcoin and it would help bitcoin to progress in the long run.

[xuan87]

I am not surprised, central bank has been trying to bring down Bitcoin since Bitcoin popularity is rising, and the old tactics is using Bitcoin as the terrorist fund and money laundry things, but they not realize Bitcoin is only a tool, every valuable things can be used for both of the things even Fiat also can be used for that purpose and I believe 2018 Bitcoin regulation is going to be a hot topic

[pootutus]

These terrorism and money laundering, as we all know, have been in existence for many years. If the European Union really wants to crush the bitcoin, it's just an excuse that they want to find. I think the trend can't be stopped. Maybe EU will take a lot of control measures, but the encryption money should be recognized by the European Union or the whole world, and it is necessary to accept some local government's supervision.

[emoji00]

https://youtu.be/xS-eWwwmcoo

It's just unbelievable what's coming out of the mouths of these people. Terrorism, money laundering? Banks have had a monopoly of those for a long time, now a more transparent technology came out, they'd start accusing it of those crimes?

Considering that these bankers has also talked about removing the insurance in bank savings accounts, it just strikes me as revolting for them to say all these. If people felt secured with their money these banks are holding and then loaning away with massive interests, then maybe people wouldn't feel the need to find other ways of keeping their money.

Sigh, guys, they've finally taken notice and has become more serious now. The battle has begun

Eventually regulations will encourage a higher level of demand. Most investment funds require a clear legal framework to make decisions, as they don´t tolerate lots of regulatory risk.