EU Proposes End of Anonymity For Bitcoin and Prepaid Card Users (thestack.com)

An anonymous reader writes: In June the European Commission will propose new legislation to effectively end the possibility of anonymous payment, by forcing users of virtual currencies like Bitcoin, and of prepaid credit cards, to provide identity details. Additionally the EC intends to propose monitoring inter-bank transfers within Europe, a measure which had not been implemented with the launch of the EU-US Terrorist Financing Tracking Programme (TFTP). Though the proposed measures are intended to heap new pressure on the financing of terrorism, a report from Interpol last week concluded that terrorist funding methods have not changed substantially in recent years, stating 'Despite third party reporting suggesting the use of anonymous currencies like Bitcoin by terrorists to finance their activities, this has not been confirmed by law enforcement.'

Comments

They never give back emergency powers.

[Impy the Impiuos Imp]

We The People are creating these things for convenience's sake, not for government to track our every purchase as part of their growing panopticon.

One of the natural benefits of cash for time immemorial was the ultimate anonymity. We should not give this up for a power grab by government. ISIS, for example, sells millions in oil every day. Go kill them and interrupt this massive physical operation instead of stripping our long-term freedoms.

They will lie and say it is only for terrorists then instantaneously start using it for mundane crime. They have done this before.

In the late 90s under Clinton they requested additional spy power because terrorists! They then used it on drug sellers. When questioned, they did not even bother with the sophistry that drug selling is kinda sorta terrorism. The baldfaced liars stated, "Whelp, the law doesn't actuay say terrorism only."