Europe Wants To Know Who You Are? - page 5.

Tipsters

sr. member

Activity: 630

Merit: 251

Quote from: worldtraveller321 on April 20, 2018, 07:49:04 PM

Everyone hear the news, seems in Europe the so called powers that be want to put more regulation
for anyone who uses an exchange there to trade etc, they want to know who you are and when you are using the exchange for transactions in crypto.
so much for using the block chain and having a hidden ID in a transaction
must be a tactic to tax everyone in crypto?

anyone else read this? thoughts? its on cointelegraph.

something we dont want but who knows eh

This is my first time reading this. Governments are taking their first step to tax the whole cryptocurrency market. I believe this will ruin everything since there will be no more anonymity and it will be less-efficient to do trading. People will soon lose interest in cryptocurrencies and they will just go back to normal investments and businesses. To that end, I hope Europe will never achieve what they are trying to do.

Shreek

full member

Activity: 476

Merit: 112

IDENA.IO - Proof-Of-Person Blockchain

is this the purpose of KYC done?
is it true, our data will be misused by some, for its own benefit?
I began to feel uncomfortable with the KYC

iv4n

legendary

Activity: 3248

Merit: 1179

Who wish higher anonymity will use anonymous coins, decentralized exchanges, etc. Government create more regulations to keep more track of what is happening, and that will never stop, but they can't cover everything. I am not an anarchist, but we need better systems, we need new governments, we need to pay more attention on world around us and make system that will be good for all of us. Main thing why I am against governments is because politicians who just care about their own interest, not just them economy is working for people who have a lot of money, and in this times everyone cares just about profit, that needs to stop somehow, just like that we can see better days.
We

378budiman

member

Activity: 299

Merit: 10

the government considers bitcoin as a commodity, then everyone who invests on KYC requirements will be required. This is not bad news because it is necessary for stock exchanges and banking institutions. marked that bitcoin has been recognized by the state as legal and can be used within its territory.

Pattart

hero member

Activity: 1190

Merit: 500

Quote from: worldtraveller321 on April 20, 2018, 07:49:04 PM

Everyone hear the news, seems in Europe the so called powers that be want to put more regulation
for anyone who uses an exchange there to trade etc, they want to know who you are and when you are using the exchange for transactions in crypto.
so much for using the block chain and having a hidden ID in a transaction
must be a tactic to tax everyone in crypto?

anyone else read this? thoughts? its on cointelegraph.

something we dont want but who knows eh

I think not only in Europe but in some Asian countries already do that even though tax has not been applied in that country. in my own country the government requires local exchange to give requirements to the users to verify ID so the government knows who you are? but they have not provided tax rules to bitcoin users

Nilda

member

Activity: 336

Merit: 14

What’s the problem with that? I have nothing to hide. If they want to tax bitcoin, fine with me. Taxes are used to pay for healthcare, infrastructures, etc. Bitcoin will not become mainstream without government regulation.

jhonnydeep87

full member

Activity: 378

Merit: 100

Of course they want to know the identity of the participants or investors. They create a form with a name, national identity or passport, electricity or water bill, and a bank bill. Some people who are not interested about it, due to fraudulent documents or on behalf of you as the perpetrators of theft. My suggestion if you live in europe then you have to fill the identity terebut so you want to get a gift from their project. But if the other continents do not want to follow him despite the great prize given from the european side. Cool

conceivedspoon2

member

Activity: 378

Merit: 10

KYC for customers now in cryptocurrencies is now the order of the day. They need people to verify for KYC.

Thogjold

newbie

Activity: 13

Merit: 0

Quote from: worldtraveller321 on April 20, 2018, 07:49:04 PM

Everyone hear the news, seems in Europe the so called powers that be want to put more regulation
for anyone who uses an exchange there to trade etc, they want to know who you are and when you are using the exchange for transactions in crypto.
so much for using the block chain and having a hidden ID in a transaction
must be a tactic to tax everyone in crypto?

anyone else read this? thoughts? its on cointelegraph.

something we dont want but who knows eh

Besides being able to keep track on how much tax you have owing on your transactions, it is also there to prevent money laundering and terrorism financing as they can trace the transactions back to you.

elegiyas

newbie

Activity: 27

Merit: 0

Most of the governments want to know this and it is valid concern. This is because some people are keeping corruption money as crypto which is not good for economy.

mcmge

newbie

Activity: 113

Merit: 0

What's the problem here? In case you want crypto to become legal, it has to be regulated and also taxed.
No one can make you show your personality, but official projects always presuppose that you know and can trace those, who is in charge for it

Veterock

member

Activity: 238

Merit: 15

Some kind of regulation of tax payment should be, it is indisputable. Another question is how the governments are going to implement this scenario?

Catch-22

member

Activity: 364

Merit: 16

https://crowdsale.network

No problem here. I have nothing to hide. People with crimininal intents are the only ones worried about governments keeping track of cryptocurrency transactions.

jhonnydeep87

full member

Activity: 378

Merit: 100

The people behind the transaction can give an anonymity feature of bitcoin and cryptocurrency but that's not a bad thing to do given the rate at which people are being cheated. But all that government has a hidden motive and this is a crime that needs to be careful. Cool

Pab

legendary

Activity: 1862

Merit: 1012

KYC is norm last time on any regulated exchange
Not only european altough give me example of european exchange
Look usa based bittrex poloniex thay also have kyc thay even dont offer fiat money exchange
Japanise exchange are the same old good time is gone

prehisto

full member

Activity: 882

Merit: 112

Your Data Belongs To You

Quote from: worldtraveller321 on April 20, 2018, 07:49:04 PM

Everyone hear the news, seems in Europe the so called powers that be want to put more regulation
for anyone who uses an exchange there to trade etc, they want to know who you are and when you are using the exchange for transactions in crypto.
so much for using the block chain and having a hidden ID in a transaction
must be a tactic to tax everyone in crypto?

anyone else read this? thoughts? its on cointelegraph.

something we dont want but who knows eh

what did you expect? To bypass every regulation forever?
Regulation are there for reason as well as the ID checks.

Block-chain transaction are the same as regular transactions , they are transactions of funds fro one person to another.

Skieleton

sr. member

Activity: 686

Merit: 282

Quote from: worldtraveller321 on April 20, 2018, 07:49:04 PM

Everyone hear the news, seems in Europe the so called powers that be want to put more regulation
for anyone who uses an exchange there to trade etc, they want to know who you are and when you are using the exchange for transactions in crypto.
so much for using the block chain and having a hidden ID in a transaction
must be a tactic to tax everyone in crypto?

anyone else read this? thoughts? its on cointelegraph.

something we dont want but who knows eh

So far, no one has any influence on BTC, I know that it is very distasteful for the governments of various states. BTC is independent. Therefore, it is often blocked.

Jay Jay crypto

newbie

Activity: 126

Merit: 0

The European Parliament and the Council of the European Union have proposed amending a directive on preventing money laundering and terrorist financing that will require cryptocurrency exchanges and wallets to identify suspicious activity, a directive that would include identifying bitcoin users.

ShadowBits

hero member

Activity: 994

Merit: 504

Quote from: worldtraveller321 on April 20, 2018, 07:49:04 PM

Everyone hear the news, seems in Europe the so called powers that be want to put more regulation
for anyone who uses an exchange there to trade etc, they want to know who you are and when you are using the exchange for transactions in crypto.
so much for using the block chain and having a hidden ID in a transaction
must be a tactic to tax everyone in crypto?

anyone else read this? thoughts? its on cointelegraph.

something we dont want but who knows eh

No problem for me as long as I do earn from it. It will also help the community to not be able to be scammed by those bad people around the internet.

jjacob

legendary

Activity: 1554

Merit: 1026

★Nitrogensports.eu★

Quote from: ?? on ??

well, I think they are doing this to protect people of fraud, some government may ask people to submit their investors information in order to know who they are and thus are subject to tax. The government are doing everything to get money from people to also ensure that the economy runs perfectly for the good of its people.

How is collecting data about investors going to protect them fraud? People who raise money through ICOs shop around for the jurisdictions with least regulations. Innocent investors are burdened with extensive know your customer and anti-money laundering requirements.

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