Encryption Systems Crackdown to Hurt UK Bitcoin Firms?
Due to the recent terror attack in Tunisia that caused fatalities for 30 UK residents, government officials have emphasized the need to have a crackdown on encryption systems. This raised the issue of anonymity among bitcoin transactions and secrecy with bitcoin firms. In a previous speech, UK Prime Minister David Cameron mentioned that the government does not approve of a communication medium that is completely shrouded in secrecy. What could this mean for bitcoin firms if the UK imposes laws pertaining to encryption? Bitcoin Firms in Trouble? Bitcoin transactions are considered....
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Days after Prime Minister David Cameron shared hints on a potential crackdown on bitcoin transactions, UK government officials clarified that they have no plans to ban encryption. Cameron's comments against cyrptocurrency transactions came after the deadly terrorist attack in Tunisia, which led to fatalities of 30 UK citizens. At that time, Cameron dropped strong remarks against terrorist groups using encryption technology, citing he wanted to "ensure that terrorists do not have a safe space in which to communicate." This led to speculations that bitcoin firms in the UK might be in....
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The possibility of a crackdown on encryption systems in the UK has risen again, ringing alarm bells in the bitcoin community. A terrorist attack that killed 30 UK citizens in Tunisia last month led one MP to question prime minister David Cameron on whether popular social networks and internet services would have to abandon their claimed privacy policies. Cameron and the UK government are on record as saying they do not approve of any communication medium that is 100% secret. The question is: given bitcoin's cryptographic foundation, would bitcoin businesses find it impossible to function....
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