The European Union wants to have a database of cryptocurrencies users

in #steem8 years ago

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.

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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.