13 Mar '17, 5pm

EU Draft Law Outlines Parliament Plan to Monitor Bitcoin Users

EU Draft Law Outlines Parliament Plan to Monitor Bitcoin Users

EU Parliament members have published new draft legislation outlining their plans to regulate digital currencies. Legislative language published on 9th March details how MEPs plan to empower financial watchdogs in the EU, allowing them to collect more data on digital currency users. What's more, it sets the stage for the creation of databases in which wallet addresses would be linked to particular identities. At one point, the language declares that, in the view of the Parliament, "virtual currencies should not be anonymous". The legislation, if finalized and approved, would also create the conditions for national-level financial intelligence gatherers to share that information once obtained. The draft bill – prepared by the EU Parliament Committee on Economic and Monetary Affairs, as well as the Committee on Civil Liberties, Justice and Home Affairs – states: "To combat th...

Full article: http://www.coindesk.com/eu-draft-law-plan-monitor-bitcoin/

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