Europe Wants To Know Who You Are?

[Denker]

Everyone hear the news, seems in Europe the so called powers that be want to put more regulation
for anyone who uses an exchange there to trade etc, they want to know who you are and when you are using the exchange for transactions in crypto.
so much for using the block chain and having a hidden ID in a transaction
must be a tactic to tax everyone in crypto?

anyone else read this? thoughts? its on cointelegraph.

something we dont want but who knows eh

All exchanges in the EU are regulated.
If wanna trade on one of the platforms you will have to do all the KYC stuff. Since a few years already!
So this is nothing new. And if you wanna stay "underground" well buy peer to peer.
Meet with a person and buy or sell with cash money. It's not illegal.

[ETHtotheMOON1]

Everyone hear the news, seems in Europe the so called powers that be want to put more regulation
for anyone who uses an exchange there to trade etc, they want to know who you are and when you are using the exchange for transactions in crypto.
so much for using the block chain and having a hidden ID in a transaction
must be a tactic to tax everyone in crypto?

anyone else read this? thoughts? its on cointelegraph.

something we dont want but who knows eh

of course, that is going to happen. For governments in order to prevent money laundering and terrorist financing, they need to know who is moving the money and where.

[squatz1]

I think they're doing more of this as an attempt to protect the customers, they're not doing this in an attempt to hurt anyone. At least that is what the EU is known for at this point, putting the consumers before the customers-- which of course customers love but the producers not so much.

Europe has also pushed out 2 year minimum warranties (BY LAW), lemon laws, and things of this nature. Very consumer friendly. But I'm unsure of bitcoin friendliness.

[carlisle1]

Everyone hear the news, seems in Europe the so called powers that be want to put more regulation
for anyone who uses an exchange there to trade etc, they want to know who you are and when you are using the exchange for transactions in crypto.
so much for using the block chain and having a hidden ID in a transaction
must be a tactic to tax everyone in crypto?

anyone else read this? thoughts? its on cointelegraph.

something we dont want but who knows eh

Why you people are so afraid of taxation?why it seems like it was more of the tax are you afraid not of being exposed our identity ?let the government do their obligation,and lets do ours..they wont stop bugging us if they dont get what they want,and we will be urging every single day..

I think for us to evolve and be mature worldwide,maybe its time to give the government their piece of cake from then we will be legalized and may operate in every matters that needed

[keycellko]

This is not new. The US has done this to tax people. Coinbase was asked to submit their investors information in order to know who they are and thus are subject to tax. The government are doing everythi g to get money from people. They're looking at crypto as an asset rather than a currency.

[pawanjain]

I don't think this would cause any problem to anybody. If you want to stay anonymous, you can still be that. You will just have to find an alternate method to withdraw the amount you have. Not only Europe but many other countries have tried to regulate crypto as well so that they can collect tax from the people. I consider it as a fee to legalize crypto because as long as it is regularized, it is legalized in your country and there are no FUDs related to ban on crypto.

[CrazeCoinz]

This is all about money and the governments are now using their powers to demand and ask for their shares about crypto currency thru taxes. I hope that here in my country will not be so strict as what op had experienced.

[acheampong64]

Everyone hear the news, seems in Europe the so called powers that be want to put more regulation
for anyone who uses an exchange there to trade etc, they want to know who you are and when you are using the exchange for transactions in crypto.
so much for using the block chain and having a hidden ID in a transaction
must be a tactic to tax everyone in crypto?

anyone else read this? thoughts? its on cointelegraph.

something we dont want but who knows eh

The reality is that we all don't want our data and identification being given out anyhow, but scammers and fraud on the blockchain has troubled us. Crypto and blockchain was supposed to be fair for online transactions which are secured and highly anonymous, but that's goal has been affected recently. Due to that, regulations keep on coming each day and it keeps on threatening us.
But on the other side, governments are also trying to suppress crypto (they think it's a threat). Well let's hope we get pass through this troubles and sustain crypto. The future is bright

[bclucho]

The majority of the governments wants and needs money so they just want their part of the cake

[yazher]

yeah it must be they just sugar coated it with their nonsense they just want people to not evade the taxes, the targets are those millionaires. these guys knows how much Million $ our circulating through exchanges so they want a piece of it.

[Nowherman]

The introduction of KYC and AML mechanisms in Europe will positively affect the crypto-currency market. In this case, millions of new investors will come
to the market without fear of tax services. In addition, this will create the prerequisites for the integration of crypto-currencies into the monetary and financial system of the European Union.

[Wendigo]

There is nothing wrong with this regulation. I think it will help curb money laundering through Bitcoin and hopefully lower the hacker attacks against crypto holders and exchanges as it would be harder to launder the cash afterwards.

[BrewMaster]

this is a very delicate matter in my opinion and it can go both ways.
if there are restrictive regulations and unreasonable taxes then they will slow down any kind of cryptocurrency advances that Europe can have in the future and they may even stop it for a while!
but if there are logical regulations such as regulating exchanges and stopping all the scams and shady people from scamming then things can become even better. what is some taxes if we can get a secured market where no exchange dares scam us or manipulate the market?

[longwintershere]

Everyone hear the news, seems in Europe the so called powers that be want to put more regulation
for anyone who uses an exchange there to trade etc, they want to know who you are and when you are using the exchange for transactions in crypto.
so much for using the block chain and having a hidden ID in a transaction
must be a tactic to tax everyone in crypto?

anyone else read this? thoughts? its on cointelegraph.

something we dont want but who knows eh

that is only a natural development of regulatory policies in European countries. They're creating the compliance structures for crypto users, which is really good news for everyone in Europe and whole blockchain ecosystem

[ahmad21]

I do not see any point of discussion over this news because whatever is happening in Europe is very normal and is expected of every government. If they are accepting a currency in their country, then it is quite obvious that they will bring it under the purview of regulation. Then what is the point of discussing it! Actually this is a good thing from my point of view. because with the regulation there would be less chances of scams occurring over the new ICOs that are being launched.

And almost every country does thing and it is nothing new to Europe only. Because the countries and their governments have to fulfill their regulatory compliances, and these KYC norms are a part of it.

[mdyeatul]

Not just Europe, you should know about your own country. Your country should know what you are doing, whether your income is on the way. We should pay tax to the government of the country

[PilosopongTacio]

Everyone hear the news, seems in Europe the so called powers that be want to put more regulation
for anyone who uses an exchange there to trade etc, they want to know who you are and when you are using the exchange for transactions in crypto.
so much for using the block chain and having a hidden ID in a transaction
must be a tactic to tax everyone in crypto?

anyone else read this? thoughts? its on cointelegraph.

something we dont want but who knows eh

Obviously, the reason is simple. Their government wants to have control over cryptocurrency. Its possible that they are planning on how to charge taxes on it.
Its also possible that they conceal the truth..  For I.D purposes or they plan on imposing regulation. But the truth is? Their main intention is to monitor their citizens. Its for surveillance purposes nothing more..
To monitor illegal activities and to identify person of interest and criminals.

[forumsehat]

This means it imposes taxes on the owner of crypto, and this they take taxes in secret, and I do not think this is appropriate to apply.

[MintDice]

A government's aim is to govern. When something as disruptive as crypto comes about, govt's usually respond in either two ways, one, they fight it will all the legislative power they have or two, they decide to work with it. Taxing crytpo users while allowing the crypto market to continue growing in their respective economies could be seen as a good thing, overall. At the very least it could be seen as an inevitable stepping stone towards mass adoption...

[TomUyamot]

Everyone hear the news, seems in Europe the so called powers that be want to put more regulation
for anyone who uses an exchange there to trade etc, they want to know who you are and when you are using the exchange for transactions in crypto.
so much for using the block chain and having a hidden ID in a transaction
must be a tactic to tax everyone in crypto?

anyone else read this? thoughts? its on cointelegraph.

something we dont want but who knows eh

It is not only Europe that wants to know every single person who is inside their jurisdiction. Every country should do that. The problem is that other countries do not care much, too lax and negligent about their duties. But it is one of the primary duties of governments to know every single person so as to make sure that everyone is well-monitored and accountable. Thus the national ID in many countries. This is not really something that is brought about by the rising popularity of cryptocurrency.