Europe Wants To Know Who You Are?

[worldtraveller321]

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

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[aleksej996]

Governments all around the World do this all the time.
This is just how they operate, they like the money, they want to tax you, so they want to know all about your trades.

Bisq is pretty strong in the EU area though, as a strictly P2P exchange the level of privacy is very high, especially since it runs over Tor.

[Xester]

This is very normal. When government consider bitcoin as a stock or commodity it will require everyone who invested on a KYC and AML requirements. This is not a bad news since it was even required to the stock exchange and on banking institutions. This action of requiring bitcoin such requirements is a sign that bitcoin is already recognized by the state as legal and can be used within its territory.

[Ilegendph]

This is very normal. When government consider bitcoin as a stock or commodity it will require everyone who invested on a KYC and AML requirements. This is not a bad news since it was even required to the stock exchange and on banking institutions. This action of requiring bitcoin such requirements is a sign that bitcoin is already recognized by the state as legal and can be used within its territory.

I also believe that its a good news because by this action, government accepts bitcoin as an asset and allows its citizen to get involved with it. Its normal for the government to require your information so that they can assure that their citizen does not use bitcoin in illegal activities nor use it to tax evasion.

[richminded]

This is what KYC all about anyway, especially with the exchanges. I think Some countries are now paying taxes through their profit in cryptocurrency in US for instance. More regulations will happen in the future, we really have to deal with it.

[stompix]

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.

Nothing new here, most exchanges have complied with KYC and AML  regulations for years.
Besides, they already now all about you since you use banks to wire and withdraw money from an exchange.

so much for using the block chain and having a hidden ID in a transaction

You can mix the bought coins with services like Chipmixer and you can have your privacy back.

must be a tactic to tax everyone in crypto?

Again, they can easily find out how much money you've made on an exchange by checking your bank account transactionsIf they were that interested in taxing profits made from crypto there is little you can hide.

[audaciousbeing]

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

Its not only Europe that wants to know everything about you. Your own country, your employer, your parents, your siblings and even your spouse. All of them want to know everything about you down to what you wear, the onus now falls on you on the amount of information that you can part away with any of the categories without hurting yourself because the sacred fact is that the ones who has the most information about you have the highest chance to hurt you the most.

Governments all over the world are bent on doing this and that is what one major reason they are against bitcoin and blockchain. The simple truth is that they could not do it through the backdoor, so they are coming out to say their mind on what is going on because if they had been able to do it, we wont have any of the noise about KYCs. Exchange sites also will be forced to fall in line or else they close shop which an entrepreneur would not consider. The way out if you are not comfortable in what they are asking, move to something else.

[Weeko]

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

They regulate to fight money launderers. This idea they are covered. And of course they want to retain power, but no one talks about it.

[malikusama]

KYC implementation is now a common thing that most of the exchanges have adopted. The main reason is to identify the user, governments have allowed exchanges to operate under certain conditions and regulations, this was one of the major condition that they (exchanges) will provide users information/identity whenever government ask for it.
I think this step is not against cryptos but against criminals because this will help to identify the criminals and to tax cryptos as well.

[PawanAggarwal]

This is not just the Europe, all world wants to know who you are. The government want to know everything about you. This interest is due to their taxes. They want to regularize all the systems from where a common man makes money and government puts taxes on them.

[Palmholder]

This is not just the Europe, all world wants to know who you are. The government want to know everything about you. This interest is due to their taxes. They want to regularize all the systems from where a common man makes money and government puts taxes on them.

  Exactly. Look what happens in South Korea for instance, the government made all anonimous cryprocurrency transactions illegal, so anyone who seeks for privacy becomes outlaw. It seems to be natural state reaction, every developed country will join such regulation

[metenjean]

It seems this trend has been revolving in the recent months, KYC from most new ICOs and also exchanger and there is no hidden agenda from the government that this happened so that they can check what and how much their citizen making from crypto and yes its just another reason for taxing.

must be a tactic to tax everyone in crypto?

Again, they can easily find out how much money you've made on an exchange by checking your bank account transactionsIf they were that interested in taxing profits made from crypto there is little you can hide.

Yes they can found easily how much money you had but that doesn't mean they had the rights to confiscated all of it. In my countries tax was divided by income tax from business venture and income tax from "jackpot" prize, and since cryptocurrencies isn't considered business venture and more like jackpot money so if they get the record of your transactions from exchanger then they can charge more for the tax.

[cho99]

No matter how they will try to take control of bitcoin and cryptocurrency world , there will be always a back door solution , they are not looking for money laundering here because there is no point of chasing after drug dealers in here while you can find every dirty money in Panama , virgin islands or Cayman islands , they want a piece of this cake that's all by trying to put some taxes on crypto trading and transactions but there will be always a solution to avoid this control .

[Ctn]

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.

Nothing new here, most exchanges have complied with KYC and AML  regulations for years.
Besides, they already now all about you since you use banks to wire and withdraw money from an exchange.

so much for using the block chain and having a hidden ID in a transaction

You can mix the bought coins with services like Chipmixer and you can have your privacy back.

must be a tactic to tax everyone in crypto?

Again, they can easily find out how much money you've made on an exchange by checking your bank account transactionsIf they were that interested in taxing profits made from crypto there is little you can hide.

And I guess this is why bitcoin and other crypto currency fall under the pseudo anonymous nature and not the anonymous one! I am sure this is surely about the taxes and tracking down of the crypto assets. Though thats the case then also it doesn't matter because at the end when you will have to file the taxes then you have to write down every other transaction that you made through the bank account. So whether it is live tracking or not, at the end you will be exposed anyway, willingly, unwillingly! 

[stompix]

Yes they can found easily how much money you had but that doesn't mean they had the rights to confiscated all of it. In my countries tax was divided by income tax from business venture and income tax from "jackpot" prize, and since cryptocurrencies isn't considered business venture and more like jackpot money so if they get the record of your transactions from exchanger then they can charge more for the tax.

And who said anything about confiscating all your money?
Nobody!

It's just talk about KYC, here is the article by the way,  since the op was to lazy to add the link
https://cointelegraph.com/news/meps-vote-in-favor-of-tighter-aml-regulations-for-crypto-trading

Furthermore some countries in the EU still have no tax forms for profits from crypto trading as they are not recognizing them as anything  

And I guess this is why bitcoin and other crypto currency fall under the pseudo anonymous nature and not the anonymous one! I am sure this is surely about the taxes and tracking down of the crypto assets. Though thats the case then also it doesn't matter because at the end when you will have to file the taxes then you have to write down every other transaction that you made through the bank account. So whether it is live tracking or not, at the end you will be exposed anyway, willingly, unwillingly!  

They fall under pseudo anonymous because of the fact that transactions in the blockchain are public, but if you're smart enough you can prevent people from linking an address to your person.No coin can guarantee anonymity when you trade your coins to another person for fiat, in that moment you renounce to all your privacy.

And even if you go an use coins only for crypto purchases, your privacy is still at risk.
You order a pizza? Now the BTCaddress is linked to your home.
You buy a smartphone from  a shop, even if you go and pick it up yourself they will still have all your data for warranty reasons.

You can only remain anonymous if you avoid anything connecting BTC an real world purchases.

[LazyBitInvestor]

This is a bad tendention of last time: governments want to control everybody and everything. Almost everywhere KYC is required demand.
BTC is the beginning of digital resistance movement.

[Red-Apple]

so much for using the block chain and having a hidden ID in a transaction

when you are using the blockchain technology or conversely cryptocurrencies you are not hidden as much as you think you are unless you are using the real anon coins.
and when you use exchanges you are not even using the blockchain technology to begin with!

must be a tactic to tax everyone in crypto?

obviously!
they may hide it behind things like fighting money laundering,... but in the end the motivation is purely for taxes.

[Sexie]

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

Same thing in my country , they imposed the know your client to determine the actual user of  bitcoin and getting information to that person. They want to trace your assets and investment as they want you pay taxes from your earnings through some kind of exchanges and trading . It is not bad at all as they put  regulations for any transactions in bitcoin and to other coins. As  crypto undergo through exchanges to any local currency , government ,over rule upon it.

[nicko122]

Europe is trying to find ways to control cryptocurrencies and monitor all transactions. That is simply destroy the whole sense of independence of blockchain technology.

[shultz1994]

Of course, governments want to indetify users. After all, the state always wants to benefit from any financial instruments. And then there's bitcoin, which made a noise in the economy. But not everything is so simple. The philosophy of blockchain contradicts the concepts and laws of many States. That is what concerns governments.