EU: cryptocurrencies users should not be anonymous

Tuesday 14 March 2017 09:30 CET | News

EU Parliament members have drafted a bill that intends to monitor cryptocurrency users and regulate digital currencies.

MEPs plan to empower financial watchdogs in the EU, allowing them to collect more data on digital currency users. Furthermore, it sets the stage for the creation of databases in which wallet addresses would be linked to particular identities.

In addition, if finalized and approved, the legislation would create the conditions for national-level financial intelligence gatherers to share that information once obtained.

The release comes more than a year after the executive arm of the economic bloc of the EU Commission moved to propose measures that would impose anti-money laundering controls on the digital currency space. In 2016, too, members of the EU Parliament moved to create a task force, led by the Commission, focused specifically on the tech.

According to public records, 88 committee members voted in favour of the legislation, as opposed to one objection and four abstentions, according to CoinDesk.

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Keywords: Europe, cryptocurrency, identity, Bitcoin, blockchain, security, fraud prevention, AML
Categories: DeFi & Crypto & Web3
Countries: World
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DeFi & Crypto & Web3

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