EU Proposes Law to ‘Ensure Full Traceability’ of Crypto Transfers, Ban Anonym...
The European Commission has proposed legislation to “ensure full traceability of crypto-asset transfers, such as bitcoin,” in order to prevent and detect “their possible use for money laundering or terrorism financing.” Moreover, “anonymous crypto asset wallets will be prohibited.” New EU Rules Ban Anonymous Crypto Transactions and Wallets The European Commission presented a set of legislative proposals Tuesday aimed at strengthening the EU’s anti-money laundering and countering terrorism financing (AML/CFT) rules. Among the proposals is a revision....
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The EU proposed a law that would force companies engaging in BTC transactions and transfers to collect identities of senders and receivers.
21inc’s Balaji S. Srinivasan recently pointed out an interesting paper that proposes to anonymize all Bitcoin transactions. The process is called Mimblewimble, and it prevents the blockchain from broadcasting user information. Mimblewimble Proposes to Anonymize All BTC Transactions. The paper written by Tom Elvis Jedusor published on July 19 gives a....
Gavin Andresen proposes a roadmap for scaling Bitcoin. On October 6, Gavin Andresen, Chief Scientist at Bitcoin Foundation proposed a roadmap for overcoming challenges to scaling Bitcoin. Andresen suggests rolling out a hard fork that increases the maximum block size limit to enable Visa scale transaction volumes of about 3,000 transactions per second. The maximum block size is currently hardcoded at 1MB enabling 7 transactions per second, and if increased would have to be carefully chosen so that anybody with a reasonably fast computer and internet connection can run a full node else we....
Bitcoin XT, also known as BIP-101 (Bitcoin Improvement Proposal -101) has been making a gradual progress. Bitcoin XT was introduced by two Bitcoin Core developers – Gavin Andresen and Mike Hearn. It is supposed to be one of the answers to the prevailing Bitcoin block size issue. Bitcoin XT or BIP-101 proposes the block size to be increased from the current size of 1 MB to 8 MB followed by doubling of block size every alternate year. The main reason for the proposal was to ensure that the Bitcoin network is future-proof and scalable. Currently, the smaller block size of 1 MB has a....
The British government has presented the Economic Crime and Corporate Transparency Bill to Parliament that will “make it easier and quicker” for law enforcement agencies “to seize, freeze and recover crypto assets.” The government stressed: “We must ensure that law enforcement agencies have the right legislative framework in place to recover criminals’ crypto assets.”
UK’s New Bill to Help Authorities Seize, Freeze, and Recover Crypto
The British government introduced the Economic Crime and Corporate Transparency Bill in....