30 Jan '17, 8am

Europe Lays Out Roadmap to Restrict Payments in Cash and Cryptocurrencies

Europe Lays Out Roadmap to Restrict Payments in Cash and Cryptocurrencies

Cash and cryptocurrencies have been the target of the European Commission’s anti-money laundering efforts. Recently, the Commission published a roadmap of its proposal for the ‘restrictions on payments in cash’ initiative, extending them to cryptocurrencies like bitcoin. Also read: Europe Committed to Tightening Digital Currency Rules by End of 2017 The Roadmap The roadmap or ‘Inception Impact Assessment’ aims to inform stakeholders such as law enforcement, tax authorities, central banks and everyone who would be impacted by the initiative and give them the opportunity to provide feedback. It explains the initiative and explores options to restrict cash payments. Citing cash transactions’ feature of anonymity, the roadmap states that “such anonymity can also be misused for money laundering and terrorist financing purposes”, adding that cash payment restrictions would poten...

Full article: https://news.bitcoin.com/europe-roadmap-restrict-payments...

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