EU plans to make Bitcoin transfers more traceable
1–10 of 402 posts
Re: EU plans to make Bitcoin transfers more traceable
#2Pretty late and how will they deal with location independent companies like Binance?
The CEO is more or less permanently on the lam.
Re: EU plans to make Bitcoin transfers more traceable
#3"The new rules would also prohibit providing anonymous crypto-asset wallets."
That's awful. Hosted wallets are an invitation for "exchanges" to steal.
Re: EU plans to make Bitcoin transfers more traceable
#4Cryptocurrency financial crimes are often masked as a technical issue inherent to decentralized, trustless networks rather than the truth; they are issues inherent to centralized, trustful systems.[a] Transfers within the blockchain are already perfectly traceable. Perfect traceability is the reason for the blockchains being. It is the interface between the blockchains and traditional finance where this problem lies.
[a] The history of finance is the history of financial crime. Jews starting banks because of Christian usury laws, the Medici sidestepping the monetary power of the church and kingdoms, etc.
Re: EU plans to make Bitcoin transfers more traceable
#5Hmm the whole way bitcoin is set up is tailored to making this impossible. Anyone can write a wallet program and create a private key.
Of course when converting to Fiat money they have a chance to ask for ID but I don't see this happening with bitcoin to bitcoin transactions unless the whole protocol is changed around.
Re: EU plans to make Bitcoin transfers more traceable
#6>The new rules would also prohibit providing anonymous crypto-asset wallets.
As a business/service, or in general? If the latter, then it's literally a ban on cryptography.
Re: EU plans to make Bitcoin transfers more traceable
#7Pretty late and how will they deal with location independent companies like Binance? The CEO is more or less permanently on the lam.
> The CEO is more or less permanently on the lam.
Source?
Re: EU plans to make Bitcoin transfers more traceable
#8> The new rules would also prohibit providing anonymous crypto-asset wallets.
Does that include open source wallets that you can run in your own computer, like Electrum?
Re: EU plans to make Bitcoin transfers more traceable
#9Pretty late and how will they deal with location independent companies like Binance? The CEO is more or less permanently on the lam.
Binance isn't location independent. They're incorporated in the Caymans.
Re: EU plans to make Bitcoin transfers more traceable
#10That's why the move to decentralized everything.
This total control nonsense will eventually end and these dinosaur idiots will stuck with their own destructive ideas