New EU Proposals Seek to End Anonymous Bitcoin Trading
The European Union (EU) has been working on plans to fight against tax avoidance strategies since the Panama Papers scandal in May, where leaked documents exposed how the rich and powerful use tax havens to hide their wealth. Biggest Leak in History. The Panama Papers release was the largest document leak in history, far larger than the U.S. military....
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Bitcoin Improvement Proposals (BIP) are proposals for making change to the Bitcoin network. These proposals on the blockchain are activated after gaining the required consensus from the Bitcoin community. While it is a standard practice for Bitcoin Core developers to introduce BIPs, these may require more than just technical expertise to ensure positive growth of Bitcoin as a currenc. Over the past two years, a number of Bitcoin Improvement Proposals have been put forth by various members of the Bitcoin community. These proposals call for the block size to be increased from anywhere....
In a proposal today, the European Commission – the executive arm of the European Union – sought stricter rules on the use of virtual currencies like bitcoin. Citing reasons of terrorism and money laundering, the European Commission has proposed stricter rules for the use of virtual currencies, an official press release revealed today. The changes will see digital currency exchanges and wallet providers fall under the purview of the Anti-Money Laundering Directive (AMLD). Such a move will seek to bring an end to the anonymity associated with digital currency transactions. The proposed rules....
Bitcoin improvement proposals are an essential part of cryptocurrency governance. Learn here what they are and how they work. What are the types of Bitcoin improvement proposals (BIPs)?There are three main kinds of BIPs: standard, informational and consensus BIPs.Standard BIPsThey identify standards used by Bitcoin software like wallets or exchanges and aim at changing the protocol; therefore, they require consensus to be approved. For example, they might submit encoding methods for securing Bitcoin or are recommended in the case of interoperability, which means that wallets should be able....
How private is Bitcoin? On the one hand, it is entirely anonymous. On the other, it is completely transparent and trackable. How can that be - and what does it mean for privacy? Incumbent Bitcoin exchange Mt Gox recently imposed authentication rules on people trading fiat currencies on its network. The rules - which didn't apply to people trading only in bitcoins - require people to verify their identities. There may not be any such requirements on native bitcoin users yet, but it highlights the issue of privacy. Many people using Bitcoin don't want others to know who they are. The....
Philippe Lemoine reveals his report on 'The Digital Transformation of the French Economy' where he suggests as much as 180 proposals in order to shake up France's technology sector, among which figures the need of developing a secure, cost-effective and anonymous payment solution based on the blockchain technology. Earlier this month, Philippe Lemoine, CEO of French online business LaSer and serial entrepreneur, revealed his report entitled 'The Digital Transformation of the French Economy,' which he was assigned by the government back in January. It took Lemoine 9 months to research and....