EU wants to prevent money laundering via bitcoin

Post Reply
Ledger Nano S - The secure hardware wallet
User avatar

Topic author
Posts: 697
Joined: 15 Dec 2017, 17:18
Cash on hand: 5,103.99
Bank: 285,413.00
Has thanked: 41 times
Been thanked: 9 times


28 Dec 2017, 00:07

EU member states and MEPs agreed on Friday to strengthen the fight against money laundering and terrorist financing on bitcoin and other virtual currency trading platforms, announcement the EU in a statement.

Among the measures taken is the end of the anonymity of transactions on virtual currency platforms, including with prepaid cards. Some investigators felt that such means of payment could have been used to finance attacks.

Bitcoin transaction platforms and "wallet" providers who hold cryptocurrency on behalf of customers will need to identify their users. These measures have yet to be formally approved by the Member States and MEPs before becoming law in each of the EU countries within 18 months.

"Today's agreement will bring more transparency to help prevent money laundering and cut off the sources of terrorist financing," said Vera Jourova, EU Commissioner for Justice and Consumers.

This EU decision comes as bitcoin has gained more than 1,700% since the beginning of the year, fueling fears of a bubble likely to burst dramatically.

The best-known virtual currency on Friday broke a new record just below $ 18,000.

It took more than a year of negotiations for MEPs and the European Commission to agree on these proposals submitted by the EU executive after the attacks in Paris and Brussels in 2015 and 2016 that left more than 160 dead .

Some Member States were opposed to measures aimed at greater transparency of trusts and other large companies, fearing a negative impact on their economy. ... oin_119239

“Le problème avec la folie des grandeurs, c'est qu'on ne sait pas où finit la grandeur et où commence la folie.”

Was This Topic Useful?

Post Reply
  • Similar Topics
    Last post

Return to “Bitcoin - BTC”

  • Information
  • Who is online

    Users browsing this forum: No registered users and 13 guests