Europe Wants To Know Who You Are?

[masudginanjar]

do not be in Europe, all over Asia have been using the id and other transactions by using the electricity bill, phone, etc.

that's what KYC or AML call it, the more it gets harder for Bitcoin trading and we have to deal with it voluntarily.

[burakdat]

Well this could be good for those who had smaller scale transactions to be made because we can barter our security on the exchange since we are only having little amount of crypto for exchange. However, for those who are rich would find it hard to exchange their crypto since they are having huge scale of exchange and it might be risky on their part to be identified. This move also would identify theif or hacker that hacks crypto and put to an exchange of the crypto being hacked.

[Mr.Dick]

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

sadly this is no news, governments always feel better by beeing in controll of everythinge especially when it comes to finances... ANd yeah they want to tax you, they want to know whom you're sending money and for what reason.. and tax you again..

[Lizzardis]

To be honest, most part of Europe is free living democratic societies, where you can do literally what you want until you hurt someone. I suppose, government cares about untaxed incomes and suspicious transactions what is pretty normal to me

[fortunecrypto]

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

Well, why not post the link so we can read it, you are 1005 right they want to tax bitcoin traders, because there are a lot of money to be made taxing traders, imagine the volume and the million transactions daily, this is huge for this country, if they can implement this.

[elachious123]

This recent invention of KYC has made verification process easier. Governments around the world are  doing this and that is what one major reason they are against bitcoin and blockchain.

[buwaytress]

Who wish higher anonymity will use anonymous coins, decentralized exchanges, etc. Government create more regulations to keep more track of what is happening, and that will never stop, but they can't cover everything. I am not an anarchist, but we need better systems, we need new governments, we need to pay more attention on world around us and make system that will be good for all of us. Main thing why I am against governments is because politicians who just care about their own interest, not just them economy is working for people who have a lot of money, and in this times everyone cares just about profit, that needs to stop somehow, just like that we can see better days.
We

It's a good teacher, all these developments. Every single move, regulation, crackdown and ban is teaching us one more lesson yet about why Bitcoin was created and we all need to use it properly. I'm not an anarchist myself, but like you, I truly believe in decentralised systems. Not a decentralised everything the way ICOs pretend they want to do, but certainly some governance, economic and social structures deserve this efficiency.

That said, maybe I'm the only one reading this a little wrong, but GDPR (and I'm still not sure what OP is referring to but since we're on privacy...) isn't so much about wanting to know who you are but letting you know when someone wants to know who you are. I actually think it's more good than bad - simply because of the "right to be forgotten". Some point to blockchain's immutability as a conflict to this but I tend to disagree. It's not like Bitcoin's public blockchain would ever be used to store that kind of thing, plus blockchain tech already means data can interact without processors/controllers ever needing to interface with them.

[Dne work]

I think there is nothing surprising. This is how everything works. The government needs to regulate everything and everyone. That's why you should take care of those aspects of your life which you would like to keep in safety

This is perfectly normal. When the government considers Bitcoin as stock or commodity. Governments around the world are determined to make their way and their main reason against bitcoin and blockchain. The simple truth is that they can not do it through the back door,
  The government wants to know everything about you. They want to regulate all the systems from which ordinary people make money and the government puts taxes on them. Look at what's happening in South Korea for example, the government makes all unusual cryprocurrency transactions illegal, so anyone seeking privacy becomes a law-breaker. Each developed country will join the rule

[Sandus_Cryptolover]

I see nothing bad in this feat anyways. Identity verification is one major problem that needs to looked into thoroughly. One major way to achieve this is through regulations.

 :

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

[demonist]

On the one hand, this will strengthen the position of the crypto currency, and on the other we will have to pay taxes, but there is nothing critical in this, States also need to replenish the Treasury)

[maydna]

I see nothing bad in this feat anyways. Identity verification is one major problem that needs to looked into thoroughly. One major way to achieve this is through regulations.

 :

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

although I am not read the whole news, I think if it's necessary, the identification will be implemented in every country that accepting cryptocurrency so the government knows who is people behind the crypto. but I don't think that every crypto user will agree with this because this is not their reason to use the crypto and they still wants to hide their identification so they can use the crypto with free. I think let's we wait for another news about this and we can see the response from the government and the crypto user.

[nanasei]

I don't think is only Europe but any reputable exchange who need to be on the safer side will demand a thoroughly verification and kyc to identify its potential clients. And almost all government now demand that from exchanges

[yoseph]

is this the purpose of KYC done?
is it true, our data will be misused by some, for its own benefit?
I began to feel uncomfortable with the KYC

The want to know the people using bitcoins so that they can tax them very well that’s why they are going for regulations and making exchanges collect data about their customers.

[sitwac]

If I'm not mistaken, the taxes are for public use. If a government makes deviations, it would not be something that did not happen before, we just have to make sure that its use is correct. Now the use they make of our identities is what we should really discuss.

I do not know if I would ask the question correctly, but would you like a terrorist or a criminal to get money from the cryptocurrencies and at some point could be a victim of this failure?

That is, you could be the victim of a criminal or a mafia that was financed in this way, if regulations can reduce this risk.

It seems to me that information and identity are something you can cover if you take the right steps to avoid the kyc or at least divert your attention.

Someone corrects me if I'm wrong ...

[koldir]

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

When you make a money transfer, you do not know where the money goes out and where it goes. You see only 24 addresses. Governments want names and ids.

[Onews1990]

goverment will be always interested in control people in their coutries, because there are too much corruption with money and earning money

[demonist]

This is quite normal, the end of the anonymity of transactions will increase the development of cryptocurrencies. the only downside is the tax on transactions from the govement But it's not so scary

[Polina Malina]

This is natural, because in Great Britain they want to make bitcoin the state currency. In my opinion, they are thus, will keep it under control. Another question is: what will be its advantage then if it is equated to ordinary currencies?

[stayeduptolate]

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

I think this is good somewhere that imposing tax over bitcoin and legalising it , is somewhere good also, though obviously it will inflate the transaction fee but still I am in favour of legalisation of bitcoin in my country. And Europe has taken such a great initiative that it will asks person’s identity before using exchange for transacting crypto and I guess this will limit the illegal use of bitcoin and then can remove the main stigma over the bitcoin. So this is appreciating initiative taken by the Europe in the field of cryptos.

[tanjilrifat]

This is not a bad news since it was even required to the stock exchange and on banking institutions.this is not their reason to use the crypto and they still wants to hide their identification so they can use the crypto with free.