BREAKING NEWS: EU decided to outlaw anonymous cryptocurrency transactions

Mike Mayor

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It's always the low rank accounts that post this FUD crap. Wow do your you believe everything you read online? If s you must believe in many things.

Quote from: godfredmanu on December 23, 2017, 07:38:05 AM

I doubt such a news. It won't be easy to monitor the cryptocurrency world. Is near impossibility. Anonymous coins like monero is hard to trace and even Bitcoin is very difficult to identify owner of a specific transactions even if you are able to track it on the blockchain.

Also why would they gave so much control to exchanges. They not owned by anyone important just an ordinary person. The speak as if officials run exchanges. Doing this wuod make it very easy for scammers to get whatever for they wanted from anyone. People that believe this sort of news are incredibly stupid.

godfredmanu

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I doubt such a news. It won't be easy to monitor the cryptocurrency world. Is near impossibility. Anonymous coins like monero is hard to trace and even Bitcoin is very difficult to identify owner of a specific transactions even if you are able to track it on the blockchain.

icobits

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Another Fake news, If this is a real thing this news should have been cover my the mainstream crypto blog already.

GreenBits

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Quote from: Iamlegit4sure on December 20, 2017, 06:07:31 PM

https://www.financemagnates.com/cryptocurrency/can-see-id-eu-rules-anonymous-transactions/

Cryptocurrency traders will have to reveal identities within 18 months.

After more than a year of deliberation, the EU decided to outlaw anonymous cryptocurrency transactions on Friday, according to a report from Reuters.

Ready for THE REAL crypto rollercoaster?

this should really change too much. until now, I assumed this was the case for UK! (they usually take a similar stance the US in regulatory matters). All that has changed is this:

Quote

Cryptocurrency exchanges and wallet providers will be required to identify users. The European Parliament’s Committee on Economic and Monetary Affairs said that the ruling must be converted to enforceable law within EU member states within 18 months.

If you are dealing with an exchange over here in the States that you can deposit or withdraw fiat from, you had to undergo aml/kyc anyway, to varying degrees. this is expected of any "money service business" in the States, and the lack thereof is almost a red flag (they could get shout down any day). We made this transition painlessly, as it was an expected thing. it wont really affect markets, but it will be a time consuming pain in your ass to adhere to (welcome to waiting a week to get verified!)

and sooo many ppl are about to flood your exchange customer support channels doing just this. good luck bros!

bitart

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Vires in Numeris

Quote from: mobnepal on December 21, 2017, 12:37:40 PM

The one who love to stay anonymous can still transact and exchange their coins with fiat on face to face deal or via p2p platforms like localbitcoins, this rule might not affect the one who want to make sure that they will not loss their personal privacy while making transactions on bitcoin or other cryptos.

There is always ways to remain anonymous because bitcoin transactions will always remain anonymous if you will not reveal it yourself.

It will be harder and harder for the people to remain anonymous... The top exhanges are forced to implement AML and KYC regulations, so people are forced to reveal their identity to get back their coins... This is not the new EU regulation but something else, so regulations are already here, but it's not fully implemented yet.
I don't know why they are trying to regulate the transactions itself... It would be enough to regulate those places where you can exchange your coins back to fiat, because now you can't just make a living out of bitcoin, you can't buy everyday things with it at your local grocery store... Maybe they're afraid of bitcoin to get mass adopted and in that case people will be able to pay with bitcoin and there will be no need to convert it to fiat.

jona

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Investors well run far away from this,not every investor want to be identify or show there identity,some have even avoided KYC platforms,but am sure this is not going to work out.

bob123

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This seems pretty fakeish to me. Didn't found any reputable sources about those statements made.

Quote from: Boseda on December 21, 2017, 12:25:35 PM

Also, if cryptocurrency transactions are anonymous they have no power to forbid this...

Thats the point. There is no possible way to force customer/cryptoenthusiast to reveal their transaction history with all of those upcoming and right now trending private coins (e.g. monero, verge, dash, ..).
Once it gets to this point where the control of the government gets that extreme, most of us will have adopted to a privacy coin.
They have the right to forbid this.. but they won't have the capabilities to execute their ban.
And even considering exchanges, there is localbitcoins and there will be more if there is more demand for 'privacy related' marketplaces

mobnepal

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The one who love to stay anonymous can still transact and exchange their coins with fiat on face to face deal or via p2p platforms like localbitcoins, this rule might not affect the one who want to make sure that they will not loss their personal privacy while making transactions on bitcoin or other cryptos.

There is always ways to remain anonymous because bitcoin transactions will always remain anonymous if you will not reveal it yourself.

Boseda

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Fake news everywhere, guys. Also, if cryptocurrency transactions are anonymous they have no power to forbid this...

Hemady17

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Quote from: Iamlegit4sure on December 20, 2017, 06:07:31 PM

https://www.financemagnates.com/cryptocurrency/can-see-id-eu-rules-anonymous-transactions/

Cryptocurrency traders will have to reveal identities within 18 months.

After more than a year of deliberation, the EU decided to outlaw anonymous cryptocurrency transactions on Friday, according to a report from Reuters.

Ready for THE REAL crypto rollercoaster?

I don't know how it is legitimate but if that news spread hoax and futile information, I think many users will move out in cryptocurrency. Since cryptocurrencies such as bitcoin is decentralized then how it will protect the users identity if it is regulated to have an identity. Bitcoin, Monero, Verge and other cryptocurrency that uses anonymous transaction will crash down.

Marileno

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alot more of this to come. Will certainly put pressure on the price as more regulation comes to fruition

Denker

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Quote from: Iamlegit4sure on December 20, 2017, 06:07:31 PM

https://www.financemagnates.com/cryptocurrency/can-see-id-eu-rules-anonymous-transactions/

Cryptocurrency traders will have to reveal identities within 18 months.

After more than a year of deliberation, the EU decided to outlaw anonymous cryptocurrency transactions on Friday, according to a report from Reuters.

Ready for THE REAL crypto rollercoaster?

LOL!!!
Anything else, something with more substance and some real sources you have to provide us?? NO?!!!
Well why I'm not surprised.
Pretty lame FUD attempt! Cheesy

John Langut

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When cryptocurrencies are driven underground, will they still be worth as much as they are now? I think a big portion of the current prices can be attributed to mainstream recognition. Sure the coins will survive anonymously, but you may lose a lot of money in the process.

Kakmakr

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ClickBait FUD but I will still respond to this nonsense, because I want to highlight the consequences of such a decision.

The first thing that will happen is, Bitcoin will go underground to Black markets and decentralized markets. People will trade on Tor markets and decentralized services that cannot be shutdown. These governments will lose all that tax income, because none of these transactions will be linked to individuals.

Most of the Crypto currency users are willing to work with governments now to regulate exchanges and services to pay their taxes.

pooya87

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this is pure click-bait article and mostly spreads FUD.

it is true that there are concerns everywhere in the world regarding cryptocurrencies in general, including bitcoin which mostly involves taxes, the anonymous cryptocurrencys which has nothing to do with bitcoin but they are talking about coins such as Monero and ZCash,..., and finally ICOs which are illegal fundraising all around the world.

but the articles like this are published in a way to pretend they are talking about bitcoin and they plan on "banning" it.

Havven

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Quote from: Gpx on December 20, 2017, 08:48:15 PM

John Langut is correct. It's just a matter of time before being anonymous is eliminated by regulation. Yes, people will look for ways around it, but just like Napster and Torrent they'll starting tracking you.

Any exchange in the US that exchange Fiat dollars for cryptos are already regulated as security dealers and require identification.

The idea that some how buying and selling will be totally anonymous is a dream. Governments aren't going to let that happen

It does seem likely that at some point in the near future governments will start doing all they can to discourage crypto participation.

Gpx

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John Langut is correct. It's just a matter of time before being anonymous is eliminated by regulation. Yes, people will look for ways around it, but just like Napster and Torrent they'll starting tracking you.

Any exchange in the US that exchange Fiat dollars for cryptos are already regulated as security dealers and require identification.

The idea that some how buying and selling will be totally anonymous is a dream. Governments aren't going to let that happen

John Langut

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True or not, this will happen all over the world eventually. Can't have people evading tax now, can we?

helars2008

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For me it doesnt matter if EU or any other organizations will ban the usage of anonymous cryptocurrencies.
After all this coins pushes the privacy and anonymity of its users.
EU will surely jave hard time looking for this people unless you will turn yourself up.

tomahawk9

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Quote from: Iamlegit4sure on December 20, 2017, 06:07:31 PM

https://www.financemagnates.com/cryptocurrency/can-see-id-eu-rules-anonymous-transactions/

Cryptocurrency traders will have to reveal identities within 18 months.

After more than a year of deliberation, the EU decided to outlaw anonymous cryptocurrency transactions on Friday, according to a report from Reuters.

Ready for THE REAL crypto rollercoaster?

What a clickbait title, from both the article, and this thread ("BREAKING NEWS" really? )
This is just another FUD article trying to shake up the market and scare people away from cryptocurrencies. Fortunately, the market doesn't seem to be affected by these kind of news anymore. Nice try, bankers.

Topic: BREAKING NEWS: EU decided to outlaw anonymous cryptocurrency transactions (Read 383 times)