In France the 1 000€ limit in cash is also about Electronic payment system such as Bitcoin: http://www.legifrance.gouv.fr/affichTexte.do?cidTexte=JORFTEXT000030784456
Yes but this limit is not for Bitcoin (Bank of France said).
Topic: EU Banks Forced to Report Bitcoin-Linked Accounts Transacting Over €1,000 - page 2. (Read 1651 times)
July 01, 2015, 08:14:53 PM
Yes but this limit is not for Bitcoin (Bank of France said).
June 27, 2015, 11:35:04 PM
In France the 1 000€ limit in cash is also about Electronic payment system such as Bitcoin: http://www.legifrance.gouv.fr/affichTexte.do?cidTexte=JORFTEXT000030784456
But lel fuck them.
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le décret abaisse le seuil de paiement en espèces ou au moyen de monnaie électronique à 1 000 euros, au lieu de 3 000 euros, lorsque le débiteur est résident en France.
But lel fuck them.
June 27, 2015, 11:33:46 PM
crazy shit... good read!
June 27, 2015, 11:02:38 PM
Litecoin not affected 
You are wrong. Bitcoin-linked accounts refers to those bank accounts which are being held by Bitcoin-exchanges and other crypto-based ventures. Even if you convert your BTC to LTC, and then sell these Litecoins to €€€€ (using Bitstamp or BTC-e), the banks will still report the cash deposit to the authorities, as it came from an account which is being held by a Bitcoin exchange.
June 27, 2015, 11:01:03 PM
It says any single transaction, or series of apparently linked transactions over a total of EUR 1,000 must be reported.
How do they work out if a series of transactions are linked and over the EUR 1,000 limit?
It goes on to say any account receiving over €10,500 EUR a year must be reported, but not what gap between transactions qualifies them as not being linked.
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Member States shall apply a maximum threshold per customer and single transaction, whether the transaction is carried out in a single operation or in several operations which appear to be linked. That threshold shall be established at national level...... and shall not exceed EUR 1,000.
How do they work out if a series of transactions are linked and over the EUR 1,000 limit?
It goes on to say any account receiving over €10,500 EUR a year must be reported, but not what gap between transactions qualifies them as not being linked.
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We also have to flag accounts who have received more than €10,500 EUR / yr (outside of salary)
you answered your first question with the second..
basically if they know the bank details of bitstamp and coinbase. then any customer who transfers to those accounts are flagged as 'bitcoin related'.. then using the same old protocols they have used for decades, (the amount flags). they filter and tally up transfer amounts to individul recipients..
thus if you transfered Eur30 each day, everyday for a year, it would tally to be over the 10500 a year being sent to a known bitcoin exchange
also if you sent Eur30 each day for just over a month, the Eur1000 flag would be hit.
its not that hard for banks to filter transactions by recipient and then total the transaction values..
the amount flags. are the same 'wire transfer' regulation amounts that the EU has been using for decades.. its nothing new.. the only difference is the 'bitcoin related' flag..
June 27, 2015, 10:55:27 PM
So what European banks are saying to bitcoiners: don't do business with us.
As i have posted in this forum recently... the country that is markets itself as a safe haven for bitcoin businesses is sitting on a goldmine.
As i have posted in this forum recently... the country that is markets itself as a safe haven for bitcoin businesses is sitting on a goldmine.
June 24, 2015, 10:10:29 AM
well it was bound to happen, but i think it's time to start to use decentralized exchange, if you still want to preserve a portion of your anonimity
and what about other coins exchanged? what if i convert litecoin instead? they will not check my transactions?
and what about other coins exchanged? what if i convert litecoin instead? they will not check my transactions?
Litecoin not affected
(...i guess they are watching all the main currencies)
June 24, 2015, 09:57:44 AM
It says any single transaction, or series of apparently linked transactions over a total of EUR 1,000 must be reported.
How do they work out if a series of transactions are linked and over the EUR 1,000 limit?
It goes on to say any account receiving over €10,500 EUR a year must be reported, but not what gap between transactions qualifies them as not being linked.
Quote
Member States shall apply a maximum threshold per customer and single transaction, whether the transaction is carried out in a single operation or in several operations which appear to be linked. That threshold shall be established at national level...... and shall not exceed EUR 1,000.
How do they work out if a series of transactions are linked and over the EUR 1,000 limit?
It goes on to say any account receiving over €10,500 EUR a year must be reported, but not what gap between transactions qualifies them as not being linked.
Quote
We also have to flag accounts who have received more than €10,500 EUR / yr (outside of salary)
June 24, 2015, 09:53:12 AM
well it was bound to happen, but i think it's time to start to use decentralized exchange, if you still want to preserve a portion of your anonimity
and what about other coins exchanged? what if i convert litecoin instead? they will not check my transactions?
and what about other coins exchanged? what if i convert litecoin instead? they will not check my transactions?
June 24, 2015, 09:44:24 AM
An anonymous Dutch bank employee has revealed that major banks in the EU are applying new rules forcing banks to report,
monitor or investigate accounts receiving or sending over €1,000 connected to bitcoin.
The anonymous user identifies himself as a bank employee within the Dutch banking system. Referencing a memo seen
in the bank offices, the user describes how accounts receiving more than €1,000 from known bitcoin-linked accounts
should be subject to increased scrutiny, and reported.
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