[2018-04-22]EU Parliament Approves Tougher Rules on Prepaid Cards and Cryptocurr

[Vladdirescu87]

EU Parliament Approves Tougher Rules on Prepaid Cards and Cryptocurrencies

MEPs with the majority of 574 votes to 13 votes, with 60 abstentions on Thursday, the European parliament has reached an agreement to impose closer regulation of cryptocurrencies.

A December 2017 agreement with the European Council that was forthputting the total closer regulation of cryptocurrencies to prevent their continuous abuse in money laundering and terrorism financing has finally found support from European Union parliament members in a vote and this was communicated in a press release.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/eu-parliament-approves-tougher-rules-on-cryptocurrencies/

[gentlemand]

"Under the new measures, cryptocurrency service providers, such as crypto exchange platforms and custodian wallets, will automatically have to apply customer verification requirements. These platforms and providers will also have to be registered in order to offer regulated exchange and payment services."

Seems pretty sensible to me and this already voluntarily in place for many operations already. The nailing of 'letterbox' companies is pretty overdue too. People can hide through a hundred layers of those.

[Vektrum]

Unfortunately, more stringent measures for the exchange of crypto-currencies and the introduction of personal identification when exchanging crypto-currency in the countries of the European Union were predictable in view of the increased incidence of terroristic acts in these countries. We see that terrorist acts are happening in England, then in Germany, then in Switzerland. Maybe when the situation stabilizes, identification of the person will be canceled, and maybe not, because everyone will get used to such measures. It seems that with anonymity when working with crypto currency ao many cases will have to say goodbye.

[gentlemand]

We see that terrorist acts are happening in England, then in Germany, then in Switzerland.

I don't really see where the funding is required for modern terrorism. It seems to consist of renting a truck or making some crappy bomb. Even obtaining a firearm from the Balkans or something can't be more than a few hundred or thousand Euros.

The days of IRA or ETA style networks are over. It's individuals unknown to the people motivating them who carry most of it these days.

I presume this is more to do with organised crime and tax evasion, but terrorism makes for an emotive label to put on it.