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Author Topic: DIRECTIVE 2000/46/EC, has anyone tried starting a bitcoin service on that basis?  (Read 2359 times)
Gandlaf
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November 08, 2011, 01:11:54 AM
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There actually is a EU directive covering anonymous electronic cash amongst other topics ( http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2000:275:0039:0043:EN:PDF ), essentially it´s the system that works for cigarettes and drink despensing machines. Point being however, that this is geared towards normal business in order to sell products in an anonymous way, pretty much a cash equivalent. Anyone can load this kind of "cash" to their bank card if they choose to do so; it´s been around for a couple of years and never really took of. But in terms of selling small amounts of bitcoins within the EU this seems to be a no brainer! Any odd company, not just a financial intermediary can apparently receive that kind of cash anonymously, in small amounts.
Supposedly it works both ways, though I´m not sure about this detail.

But hey, there´s a provision for anonymous electronic cash payments, is anyone using it in Europe?

Not sure if this is relevant, but it might be a way around current difficulties in Europe, as well as a entrepreneurial opportunity!

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There are several different types of Bitcoin clients. Server-assisted clients like blockchain.info rely on centralized servers to do their network verification for them. Although the server can't steal the client's bitcoins directly, it can easily execute double-spending-style attacks against the client.
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November 08, 2011, 12:16:38 PM
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Well the directive was published more than 10 years ago so there are now a number of such "electronic money institutions" but that does not say much about the status of bitcoin. The capital requirement is still substantial (1 million euro) and they operate exclusively in euro. What is more intriguing to me is the status of facebook credits..

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