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EU Set To Crack Down On Bitcoin and Anonymous Payments After Paris Attack (thestack.com)

An anonymous reader writes: Home affairs ministers from the European Union are set to gather in Brussels for crisis talks in the wake of the Paris attacks, and a crackdown on Bitcoin, pre-paid credit card and other forms of 'anonymous' online payments are on the agenda. From the article: "According to draft conclusions of the meeting, European interior and justice ministers will urge the European Commission (the EU executive arm) to propose measures to strengthen the controls of non-banking payment methods. These include electronic/anonymous payments, virtual currencies and the transfers of gold and precious metals by pre-paid cards."

5 of 275 comments (clear)

  1. Re:Um... by Antique+Geekmeister · · Score: 4, Informative

    > Because someone can point a very portable RFID reader at a pile of tagged notes and get all the serial numbers, number of notes of each type and total value of the notes in a few second

    Not without raising the price of the bills quite a lot. Reading a few distinct RFID tags in a small box is one task, reading 100 distinct RFID's out of a stacked box of paper is still well beyond the limit of any RFID technology. And they can be magnetically obliterated trivially. (nd get all the serial numbers, number of notes of each type and total value of the notes in a few second)

    Putting an RFID reader where a money sorter passes individual bills might be effective in reading the bills casually, but RFID tags are still fragile. They don't take bending or folding well, and a great deal of money gets folded a great deal in normal handling. RFID tags also remain expensive: Adding $0.25 to the cost of making each bill would upset the US or EU mints quite a lot.

  2. Re:An excuse by Anonymous Coward · · Score: 2, Informative

    No it's not. Money laundering is something completely different. If you want to turn cash into transmittable currency bitcoin is a terrible ida, which is why most criminals use other methods, like art auctions where you can make clean bank transactions and pay taxes which IS money laundering.

    So? Why would every sane government do that? It looks completely insane. There are no sane argument presented that from any perspective makes cracking this sane. The argument used is that unregulated money can create to much unemployment and therefore hurt the rich, which has no basis in reality and therefore still not sane. But that's what they write in their school textbooks and public documents, even if it was debunked decades ago.

    Reports from the US and the EU has shown a massive increase in employment. Unregulated trade is stated as the main reason for this and the financial elite are panicking over this.

  3. Re:Because it already is by Penguinisto · · Score: 3, Informative

    Clue: suicide bombers really don't give a damn how much money they have in the bank, or how big their mansion is.

    You (and others) harp on "wealth inequality" as if it 'solving' it were some sort of panacea. It's not. The source for this mess is far more ideological than economic. You could make everyone equally wealthy tomorrow morning at 9am sharp, and it wouldn't change a thing as far as these folks are concerned.

    Militant Islam doesn't really give a shit about wealth, except for the type and quantity of armaments that can be purchased with it.

    --
    Quo usque tandem abutere, Nimbus, patientia nostra?
  4. Re: Because it already is by PRMan · · Score: 4, Informative

    http://hinduexistence.org/category/attack-upon-hindus-by-muslims/

    https://www.rt.com/news/buddhist-temples-torched-bangladesh-342/

    And yes, these types of attacks have led to wars where Hindus and Buddhist (monks!) are now attacking Muslims back.

    Muslims attack all non-Muslims and their goal, as your parent post stated is to turn every country on earth into a Muslim hellhole.

    --
    Peter predicted that you would "deliberately forget" creation 2000 years ago...
  5. Re: Because it already is by CaptainDork · · Score: 2, Informative

    How did you get modded up?

    Your other shit was TL;DR, but I can help with this part.

    When you have mod points, a heretofore not seen little box appears at the bottom of each comment.

    You click on the down arrow associated with mod options, select one, and click on it.

    You will be notified when you have mod points.

    --
    It little behooves the best of us to comment on the rest of us.