In its latest proposal to regulate virtual currencies, the Commission of the European Union suggests that the fourth directive prevention of money laundering (4AMLD) that can lead to the creation of a central database of users coin a new amendment digital (VC Central User Database).
This proposal indicates that the Commission should, by June 2019, provide a report on the implementation of this amendment should include "appropriate proposals, including, where appropriate, with respect to digital coins, samples set up a base central database for recording user identities and addresses accessible to FIUs portfolio as well as self-declaration forms for users to use digital currencies ".
One might speculate that the way to accomplish this would be linking a public key to the identity of a user, which would allow the Financial Intelligence Units (FIU) realizasen its investigations and monitor the movement of money. Therefore, the utopian idea of anonymous criptomonedas as coins would use only as a memory.
However, we should see what would happen to the information in this database, as identifying a public key to the identity of a user would be visible all transactions; which would be contrary to the fundamental privacy rights of every citizen.
I am so glad Britain has left the EU - it could safe haven for cryptocurrencies.
Good Read , needs Upvoting !
Centralized Banking Cartel and Governments are eventually going to impose laws ,
everyone needs to vote against them ! but Money Laundering is a serious Problem , I admit that every Politician and Banker should be monitored for security purposes , monitoring the people just for them to develop some sort Taxation method , imagine having to pay Crypto tax due a Fee , this is most likely going to apply to every user registered on the Government Database that deals with Cryptocurrencies.
However we can catch Corrupt Politicians like Razak Najib , who can steal 3+ Billion from Malaysia through Banking Loopholes
Bad news.
regulate virtual currencies - no way
I hope this is not true
Very bad news for all of us.
Let the people be free.
Sad new.
I don`t like this.