2019-06-10]Crypto Advocacy Center Says Proposed UK AML Regulations Violate Priva

[Vladdirescu87]

Crypto Advocacy Center Says Proposed UK AML Regulations Violate Privacy Rights

Coin Center — a nonprofit research and advocacy center focused on crypto-related public policy issues — has urged Her Majesty’s Treasury not to over-broaden the scope of the United Kingdom’s anti-money laundering/counter terrorism financing (AML/CFT) regulations.

The development was revealed in an official Coin Center news release published on June 10.

Coin Center’s central concern regards HM Treasury’s plans to ostensibly “impose data collection and reporting requirements on not only cryptocurrency developers, but all open-source software developers and others who facilitate the peer-to-peer exchange of cryptoassets,” as the news release states.

https://cointelegraph.com/news/crypto-advocacy-center-says-proposed-uk-aml-regulations-violate-privacy-rights

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[gentlemand]

Look to the porn filter that's supposedly being introduced soon to see how clueless the British government has become when it comes to anything internet related. They're expecting anyone who wants a wank to sign up to some website to prove their age for the honour of accessing it.

Or they could get a VPN in a couple of seconds and bypass it.

[Carlton Banks]

Look to the porn filter that's supposedly being introduced soon to see how clueless the British government has become when it comes to anything internet related

what do you really think these politicians are like behind closed doors? if you really believe they're the sufficiently stupid to think that that policy will achieve it's publicized aim (when even the empty pints in the pub know the same thing you know), then it's you that's naive

[magneto]

Unfortunately, this is the trend right now. Regulations are tightening to the point of which certain exchanges are asking completely personal questions (e.g. Bitstamp, HitBTC, IIRC) that are unrelated to identity verification, like source of funds, income level, etc.

I doubt that appealing to the agency that is going to make these regulations happen is going to do much, either.

However, there is always a scope of which these regulatory agencies can operate with. Even when you look at draconian states when it comes to crypto regulation, like India, you still see p2p transactions occurring, because these types of decentralised trading that is made possible by the distributed nature of BTC itself makes censorship almost impossible.