EU wants to ban anonymous crypto wallets

Thursday 22 July 2021 15:19 CET | News

The European Union has announced wanting to forbid service providers to offer the creation of crypto wallets without the customer's personal data in the future.

Service providers who offer the creation of online wallets currently do not require licenses, and a wallet can be created without specifying any personal data. In the future, data such as name and address should be compulsory and anonymous wallets are to be completely banned. 

In the case of transactions, the name of the recipient should also be specified. The aim is to reduce criminal activity stemming from cryptocurrency use, however, there are still no concrete plans for feasibility. 

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Keywords: cryptocurrency, identity verification, identity fraud, cybercrime
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: Europe
This article is part of category

Blockchain & Cryptocurrencies