The EU wants transparency on Cryptocurrencies - page 4.

keycellko

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Quote from: maurobiasolo on April 14, 2018, 12:52:07 PM

EU is working hard on privacy, blockchain and cryptocurrencies. With regards to this article, I think they want to track activities mostly for tax purposes. Terrorism is just an excuse: terrorists are much more likely to use USD or EUR than crypto

Well i think all governments are using terrorism and money laundering as an excuse. They all want to tax crypto. They all want to control crypto because they know many people are into it and they'll probably get more money in taxing crypto than taxing small business. Thats why there are many regulations coming out from different countries.

entrepmind23

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Although I am happy that we at least have some freedom with all the control from the government, I agree to them on some points regarding the protection against terrorism and money laundering. Illegal transactions like this are favorable with cryptocurrencies due to anonymity but then I believe there are more people who are using it in legal way rather than the opposite and the perception against cryptocurrencies being only used in illegal means are dwindling down. If we have this regulation then it is a protection for us against those who abuse such freedom but we are losing our own freedom as well and the government may come up with plan again to take total control on us by being transparent about it.

Sadlife

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EU is an hypocrite organization. They want to regulate cryoto currency because it can be used for terrorism and money laundering ? why. ? Does they're fiat currency does not do the same ? in fact their currency is most widely use in such illegal activity.
This is only an excuse to regulate and control crypto users.

Lexurdania

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Quote from: Menawi12 on April 15, 2018, 08:13:21 PM

Its really bad how they push it on our own wallet. I think its hard to happen because as we know that bitcoin is open source and its decentralized. If that regulation on exchanges its still ok but if that happen on our own wallet, i am believe that because of banks lobby

Cryptocurrency is enemy banks or central banks. I am believe they will do anything to stop or slowing down crypto growing because cryptocurrency can disrupting banks bussiness. Imagine if we make transaction with others peoples in other country via internet, and we paying with crypto like bitcoin, we dont need intermediaries like banks and bitcoin offering fast and instand transfer.
I am believe and hope not happen, tha what happen Euro will not happen in others country

piratcoin

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BITCOIN and different cryptocurrencies, such as Ethereum could be directed intently by the European Association with an end goal to give financial specialists less obscurity. Bitcoin cost has kept on diving following feelings of dread from financial specialists of an exchanging clampdown by organizations internationally.

stompix

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Blackjack.fun

Quote from: rxplcgna on April 19, 2018, 04:55:26 AM

EU's economy is so bad in recent years that they are hoping to find an opportunity to make their weak economy new, and perhaps they are now taking advantage of the opportunity to use digital money.

Hmm, pretty interesting post.... , I Taw a post like Tat Grin

Quote from: hualangktsld841 on April 14, 2018, 01:52:16 PM

The EU's idea of digital money purse is hard to really carry out. But we can understand this news. Now the European Union countries are paying more and more attention to digital currency. As we all know, the European Union's economy has been very bad in the past ten years. They may be eager to find new economic engines by using bitcoin as a breakthrough.

The European Economy is growing continuously and has done so for years with the exception of Greece none has experienced a GDP decline in the last 3 years.
That combined with the fact that in in 2013 the only ones posting a decline were Cyprus and Finland.

If the whole 14 trillion annual economy of the EU would be sinking cryptos would not save it.
Actually I think that the effect would pretty much be the opposite as the citizens in the EU are one of the biggest investors in crypto, if not the biggest.

solidrock

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I am not suprised Sad

rxplcgna

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EU's economy is so bad in recent years that they are hoping to find an opportunity to make their weak economy new, and perhaps they are now taking advantage of the opportunity to use digital money.

btc-facebook

legendary

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They want transparency means that they want to make centralized currency so what's the different between ordinary fiat
As I know, people love bitcoin because of it's decentralized so it's become bitcoin nature and should not be disturb in order to maintain their popularity.
Everybody want to find the win win solution for cryptocurrency !

yugyug

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Now the government wants transparency about cryptocurrency and i think the main purpose for that is that they some piece of it. Cryptocurrency is now in the mainsteam and it is a hot item and it is the new money making machines. The central authority wants to look after where your money goes and then collect taxes. For what Satoshi envision bitcoin for anonymity and decentraized was only just a dream today as long as the authority blend in, Satoshi's dream can't be achieve in the future.

Sled

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Bitcoin- in bullish time

In my opinion they can easily achieve it because there is a blockchain explorer that they can use in order to see the things that they wanted to see. Most of the cryptocurrencies are already transparent so what kind of transparency is they want. The government can tell people to have an annual report of their cryptocurrency activities so they can get more transparency.

cahbagus555

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Quote from: Ultegra134 on April 14, 2018, 11:29:14 AM

Stumbled upon this article today.

http://www.europarl.europa.eu/news/en/headlines/security/20180404STO00913/plenary-vote-stricter-eu-rules-on-money-laundering-and-terrorism-financing

According to the European Parliament, in order to fight money laundering and terrorism financing, they proposed a new legislation to regulate cryptocurrencies. Quoting from the article:

Quote

The new legislation would also require virtual currency exchange platforms and custodian wallet providers to exercise due diligence and end the anonymity associated with such exchanges. “Now we say that platform providers and those who keep bitcoins in their wallet need to know their customers just as banks do. It is quite revolutionary,” explains Sargentini.

In simple words, they actually want wallet providers to require more information from us, similar to banks.

What are your thoughts on this? Could this ever happen?

That could happen if government and regulator push it on regulation but as we know, bitcoin or other cryptocurrency are decentralized and if we opening bitcoin wallet should providing our identity, the name change to not crypto anymore

klasik1980

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Quote from: senne on April 18, 2018, 06:44:43 PM

This is a nice thought regarding preventing money laundering and thefts happening due to crypto currencies. But the main question is how will they tackle this problem, its not the system which is corrupted its regarding the people who use in the negative way. EU might impose proper verification on local exchanges but it is nearly impossible to track global market transaction, despite have an open ledge we cannot link any wallet to any individual without proper investigation.

They need to figure out alternative methods to fight crime in the first place. Maybe drugs should be legal and taxed? Maybe we shouldn't tax peoples income and we wont have to deal with tax evasion? The government needs to adapt.

senne

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This is a nice thought regarding preventing money laundering and thefts happening due to crypto currencies. But the main question is how will they tackle this problem, its not the system which is corrupted its regarding the people who use in the negative way. EU might impose proper verification on local exchanges but it is nearly impossible to track global market transaction, despite have an open ledge we cannot link any wallet to any individual without proper investigation.

tonyosa

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This is always the case of calling a dog a bad name in other to hang it.That is how some government treat bitcoin.Saying it is a tool used by terrorist and all the bullshit.Bitcoin in my opinion is not meant to be centralized or controlled the way some persons are proposing.We dont want some more anarchy from the powers that be.Bitcoin is for the people and is the peoples currency.

4abrec

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Quote from: Ultegra134 on April 14, 2018, 11:29:14 AM

Stumbled upon this article today.

http://www.europarl.europa.eu/news/en/headlines/security/20180404STO00913/plenary-vote-stricter-eu-rules-on-money-laundering-and-terrorism-financing

According to the European Parliament, in order to fight money laundering and terrorism financing, they proposed a new legislation to regulate cryptocurrencies. Quoting from the article:

Quote

The new legislation would also require virtual currency exchange platforms and custodian wallet providers to exercise due diligence and end the anonymity associated with such exchanges. “Now we say that platform providers and those who keep bitcoins in their wallet need to know their customers just as banks do. It is quite revolutionary,” explains Sargentini.

In simple words, they actually want wallet providers to require more information from us, similar to banks.

What are your thoughts on this? Could this ever happen?

I'm not killed. In fact, everything is going right, and the guys from the ES are working in the right direction. In large amounts, I think it should be transparent.

South Park

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I am terrible at Fantasy Football!!!

Quote from: kolesozw on April 14, 2018, 03:59:25 PM

Quote from: Ultegra134 on April 14, 2018, 11:29:14 AM

Stumbled upon this article today.

http://www.europarl.europa.eu/news/en/headlines/security/20180404STO00913/plenary-vote-stricter-eu-rules-on-money-laundering-and-terrorism-financing

According to the European Parliament, in order to fight money laundering and terrorism financing, they proposed a new legislation to regulate cryptocurrencies. Quoting from the article:

Quote

The new legislation would also require virtual currency exchange platforms and custodian wallet providers to exercise due diligence and end the anonymity associated with such exchanges. “Now we say that platform providers and those who keep bitcoins in their wallet need to know their customers just as banks do. It is quite revolutionary,” explains Sargentini.

In simple words, they actually want wallet providers to require more information from us, similar to banks.

What are your thoughts on this? Could this ever happen?

They were commenting a tighter legislation rules from months.
This will only lead to more and better Decentralized Exchanges (DEX). I'm supporting it somehow. Because now I'm paying Capital Gain Tax anyway.

This is what many governments do not really understand they think that they will be able to regulate cryptocurrencies in the same way they regulate everything but it is not going to happen that way, people will begin to develop new solutions and one of the solutions for centralized exchanges are decentralized exchanges that will allow to us to exchange our coins without the need of going through know your customer policies.

rowel21

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Merit: 10

crypto is it best because if its decentralized system if they make it more often even the government will penetrate and put it a big tax and decentralisation will vanish and the control will put on the higher personnel

a7goo

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Free Crypto in Stake.com Telegram t.me/StakeCasino

I think that regulating crypto currencies is almost impossible for governments around the world. They can only "adapt" to all the mechanisms of the crypto. Where we are now ......... it is impossible to go back or cancel ...... only adaptation

SaShiRaJaVu

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Quote from: Ultegra134 on April 14, 2018, 11:29:14 AM

In simple words, they actually want wallet providers to require more information from us, similar to banks.

It is not a big surprise going forward and every governments around the world want a transparent market and they wanted to collect information about every user and they will monitor everyone who has a huge amount of money and that is how things are going to go in the future, since this is a global market i hope they wont restrict the trade geographically .

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