EU to make Bitcoin traceable, ban anonymous crypto wallets

> In practice, this means that a service provider exchanging crypto on behalf of a customer would have to record their name, address, date of birth and account number, as well as the name of the intended recipient of the transfer.

As usual, the regulation checkpoint is at the exchanges.

Re: EU to make Bitcoin traceable, ban anonymous crypto wallets

#7

Post by qnsi » Tue, Aug 24, 2021, 5:36 PM UTC

I understand anti-EU sentiment, but who uses bitcoin for something different than transfering illegal funds and speculation?

I understand Ethereum and other smart contract cryptocurcies, but time when people believed Bitcoin is going to become currency are long gone

Re: EU to make Bitcoin traceable, ban anonymous crypto wallets

#8

Post by [deleted] » Tue, Aug 24, 2021, 5:38 PM UTC

rspeele wrote: post #6

seibelj wrote: post #3

It is very hard to ban math. An “anonymous wallet” is a random number!

> In practice, this means that a service provider exchanging crypto on behalf of a customer would have to record their name, address, date of birth and account number, as well as the name of the intended recipient of the transfer. As usual, the regulation checkpoint is at the exchanges.

[deleted]

Re: EU to make Bitcoin traceable, ban anonymous crypto wallets

#9

Post by rad_gruchalski » Tue, Aug 24, 2021, 5:39 PM UTC

Everybody who ever thought that crypto currencies will not come under this scrutiny was highly delusional.

All other governments will follow soon.

Re: EU to make Bitcoin traceable, ban anonymous crypto wallets

#10

Post by frankbreetz » Tue, Aug 24, 2021, 5:45 PM UTC

qnsi wrote: post #7

I understand anti-EU sentiment, but who uses bitcoin for something different than transfering illegal funds and speculation? I understand Ethereum and other smart contract cryptocurcies, but time when people believed Bitcoin is going to become currency are long gone

El Salvador is trying to use it a currency. Well, I still wouldn't consider it a currency since pretty much everything will be priced in dollars, but they are using to transfer value. One of the man reasons for this was to send home remittances.

Many people still believe Bitcoin could at least be used to transfer value, like a currency. AMC, Starbucks, and United Wholesale Mortgage are all looking into accepting it. Whether these come to be seems to be seen, but there is obviously a lot of people that still expect Bitcoin to be a currency, or at the very least a way to transfer value.