Breaking: European Union Crisis Meeting Planned to Call for Control of Virtual Currencies after Paris Attacks
Interior and justice ministers from the European Union have organized a crisis meeting this Friday to plan an effective crackdown of anonymous payment method and virtual currencies to curb terrorism funding. In a direct reaction to the recent Paris terror attacks, European Union countries have planned an emergency meeting this Friday in Brussels, Belgium, to convene and collaborate on ideas to implement and strengthen controls over electronic and anonymous payment methods. A draft conclusion obtained by Reuters notes that EU ministers will urge EU's executive arm - the European Commission....
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The Chamber of Digital Commerce (CDC), based in Washington, D. C., has urged the Group of Seven (G7) nations not to enact virtual currency regulations that will stifle innovation in seeking to prevent future terror attacks like the one in Paris last week. The CDC is concerned that the G7 countries want to restrict virtual currencies because they suspect Islamic State terrorists used and continue to use bitcoin. Stifling digital currency innovation would be counterproductive for law enforcement, according to the CDC. It claims the block chain offers law enforcement an important tool for....
European Union (EU) countries will seek a crackdown on bitcoin during crisis talks tomorrow, in the wake of last week's Paris attacks, Reuters reports. A draft document seen by Reuters said that EU member countries were planning to crack down on digital currencies and anonymous payment systems made via pre-paid cards in a bid to curb terrorism financing. EU justice and interior ministers who will attend the meeting are expected to urge the European Commission to come up with measures to "strengthen controls of non-banking payment methods such as electronic/anonymous payments and virtual....
The European Union announced plans to propose different measures to control alternative payment methods, including electronic payments (e-money), digital currency, pre-paid cards and gold, following the discovery of a bitcoin account linked to ISIL militants' Paris attacks. Countries and justice ministers of the European Union will pressure the European Commision, an executive body of the EU responsible for proposing legislation and implementing decision to "strengthen controls of non-banking payment methods such as electronic/anonymous payments and virtual currencies and transfers of....
The executive body of the European Union (EU) has warned of a further crackdown on virtual currencies in hopes of cutting off financing to terrorists. Details were revealed recently in the European Commission’s Action Plan for strengthening the fight against terrorist financing and its call for Bitcoin exchanges to come under the supervision of the Anti-Money Laundering Directive. If proposed legislation passes, virtual currency exchanges would be accountable for gathering comprehensive information about those looking to change bitcoin into traditional currency. “We must cut off....
March 22nd’s morning saw an attack on Brussels, Belgium killing at least 34 people. Will virtual currencies be increasingly under the scanner as a result? Will terrorist attacks destroy the virtual currency? Frequent attacks on Europe seem to be an unfortunate reality, given that the attack on Brussels Airport and the Maalbeek Subway Station came just four months after the Paris attacks on November 13, 2015. Terrorism is now a global phenomenon with global connotations. These type of terrorist attacks mean that terror financing is a deep concern of security agencies, governments and the....