New EU Draft Law Seeks to Identify Bitcoin Users, End Anonymity
A newly drafted proposal to amend the existing directive of preventing money laundering and terrorism financing is seeking to introduce significant regulatory authority over the usage of digital currencies like bitcoin. Members of the European Parliament (MEPs) are deliberating to extend the scope of the Anti-Money Laundering Directive (AMLD) to include virtual currencies, a move that could end the anonymity of cryptocurrency adopters and users. The existing AMLD, published in May 2015, does not include any mention or coverage of virtual currencies. CCN reported on a separate proposal put....
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The U.S. government is seeking the identity of Coinbase users for tax purposes, sparking fears that Bitcoin’s anonymity may be compromised. According to a legal summons filed in the Northern California District Court, the U.S. Internal Revenue Service (IRS) seeks to identify several Coinbase users and their financial activity, based on evidence that they may have violated U.S. tax laws: “Based upon a review of the petition and supporting documents, the Court has determined that the “John Doe” summons to Coinbase, Inc. relates to the investigation of an ascertainable group or class of....
The latest breed of X11-driven cryptoassets is challenging the popular concept of anonymity in cryptocurrency – and Global Denomination (GDN) is at the forefront of the space’s latest features. The X11 algorithm, also known as chained proof of work, was first introduced with Darkcoin earlier this year, and has since spawned a cluster of peers all striving to evolve the technology in different directions for various uses. Whereas Darkcoin’s genesis was based on the desire to provide new levels on anonymity, however, GDN’s developers argue the opposite. Their coin, dubbed “anti-anonymous",....
A draft of a new cryptocurrency asset law was introduced in Peru in December, seeking to regulate the cryptocurrency interactions that are already happening in the country. The draft law, besides defining what a crypto asset is and establishing the duties of virtual asset service providers (VASPs), also seeks to legalize the use of assets to incorporate and be held by companies.
Peru Launches First Cryptocurrency Regulation Attempt
A new piece of draft legislation called “Cryptoasset Marketing Framework” has been introduced in the Peruvian Congress under the number....
In a sweeping effort to present an action plan to combat and curb terrorism financing, the European Commission is looking ascertain more information from virtual currency service providers in Europe. The services under the scanner include exchanges and wallets. The European Commission – the executive arm of the European Union – is looking to make several amendments to the Anti Money Laundering Directive (AMLD) in a new proposal through an action plan. The amendments, if enforced, are likely to be mandated by the second quarter of 2016. If the changes come into effect, exchanges and wallet....
Ever since the Silk Road platform was shut down by law enforcement, people have been wondering if the Tor network was as secure as it is touted to be. As it turns out, a former part-time Tor Project developer helped the FBI in developing the Torsploit malware. Matthew Edman And FBI Develop Torsploit. Anonymity software has been a thorn in the eye for law....