EU to Register Digital Currency Users, Record Bitcoin Transactions
The European Commission has submitted their plans to create a central database of digital currency users. The EU quotes the prevention of terrorist financing and money laundering for the reason behind it. The Commission stated that virtual currency transfers, including Bitcoin, are not monitored or observed by public authorities within the EU and thus, a regulatory framework for digital currency platforms must be established. “For that purpose, obliged entities need to collect, process and record personal data, and sometimes to share such data with public authorities (such as FIUs) or with....
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