Slashdot Mirror
EU Plans To Create Database of Bitcoin Users With Identities and Wallet Addresses (softpedia.com)
An anonymous reader writes from a report via Softpedia: "The European Commission is proposing the creation of a database that will hold information on users of virtual currencies," reports Softpedia. "The database will record data on the user's real world identity, along with all associated wallet addresses." The database will be made available to financial investigation agencies in order to track down users behind suspicious operations. The creation of this database is part of a regulatory push that the EU got rolling after the Paris November 2015 terror attacks, and which it officially put forward in February 2016, and later approved at the start of July 2016. Legally, this is an attempt to reform the Anti-Money Laundering Directive (AMLD). The current draft is available here. The current AMLD draft reads: "The report shall be accompanied, if necessary, by appropriate proposals, including, where appropriate, with respect to virtual currencies, empowerments to set-up and maintain a central database registering users' identities and wallet addresses accessible to FIUs, as well as self-declaration forms for the use of virtual currency users."
The suggested process for using bitcoin is to create a new wallet address for each transaction.
They will never be able to keep up with it.
I guess this is what happens when a bunch of people who dont understand the technology try to regulate it.
meet meteor.
appropriately
...to find out who satoshi nakamoto is.
~Knowledge is knowing that a tomato is a fruit, but Wisdom is knowing not to put it in a fruit salad.
Good luck accomplishing that!
As Europe runs out of money they will look to other sources such as bitcoin wallets, bank accounts, retirement accounts, pension funds, etc to stay afloat. Cyprus already happened. The PIIGS countries are next.
And they're going to enforce the "opt in" part of this deal how, again? The whole POINT of virtual currencies is to keep them out of control of the government(s).
Seven puppies were harmed during the making of this post.
to track buyers and sellers of kiddie porn, drugs, materiel, "personal" services (including child prostitution, murder for hire...), and a few hipsters who think having some cryptocurrency makes them edgy.
This is so the Rothchild's can control ever facet of the world economy.
It is going to be hard to connect buyers and sellers with all the coin mixing services available. Especially with popular alt coins like dash coin (http://dash.org ) that have mixing built into the protocol.
Verges on retardation.
So it's another central database that will be of extreme interest to the Russian Business Network and other malefactors. I Wonder how that will work out.
limey cunts
Marvelous.
Now write a legal definition of "virtual currency" that includes Bitcoin but excludes WoW gold and EVE Online ISK. I dare you.
Actually, they might be perfectly happy to suck those in too, just because a bureaucrat never met a tracking database they didn't like.
There is no evidence that Bitcoin was used by terrorists. This is the usual statist bullshit coming from European governments.
Mine is a black one, with two card holder flaps. Got it?
Who's the more emasculated cuckold: the faggot European regulator who attempts to regulate what he's too busy deepthroating Muzzie nutsacks to understand; or the faggot European subject who will meekly seek to comply with these regulations while a roving gang of Syrian "refugees" violently sodomize his wife's asshole to the point of rectal prolapse.
ahaha haa hahaha hahahah HAHAHAHAHAHAHAHA hahahah hahahahah ahahahah ahaha haha hahahahahaha
Last I checked there were no conclusive links Paris attacks were funded by bitcoins (one source here http://www.coindesk.com/bitcoi... ). I'm pretty sure it was proven though that the terrorist were breathing French oxygen in the atmosphere though, so maybe we should get the French to start tightly regulating who can breathe over there and who can plant plants that generate that oxygen (you know, since it may be used by a terrorist)?
If you care about your freedom and don't want to be a salve of the government you need to take action to make that happen. Move to New Hampshire where the liberty-minded folks are actually building ground for a free state. Little to no government. No state police. No compliance with federal mandated 'state' laws (ie NH already refuses certain federal funds so that it doesn't have to comply with some federal law). We don't need government schools. Most people can afford to educate there own children once the state ceases collection of taxes and eliminates the bureaucracy.
Geography is seen as a mere inconvenience when applying laws. Hosting it in Panama is a very insignificant speed bump compared with Switzerland, especially that since to the USA Panama is very much what the Romans called a "client state".
€168 billion in VAT fraud a year because they can't exchange tax data if their life depended on it, and now they want to run a shadow bank to track my digital collectors items?
I hope there's a list of serial numbers for cash, so we know how many brown envelopes the crooked politicians have accepted in bribes to pass EU laws.
Take Nobody's Word For It.
That is all they want. They cant stand that people are using "money" without them getting their cut like they are used to.
Fuck the banking cartels and the elites that support them!
Tracking financial transactions is core to anti-corruption and anti-crime efforts around the world, and trade in any substitute convertible to money is the same.
Thank goodness for Brexit.
The idiots at the EU can stick this where the sun doesn't shine (along with all their other crap)..
I think the only thing that EU is still missing is proper uniforms for its guardians (black with nice double lightning would be perfect on the collar). I find the said salute a bit silly but if they want to go all he way then so be it. Schulz and Juncker are also much less photogenic than the little Austrian back in the day was however and this is not fixable I think.
Freedom is a threat to 'them'.
Liberty is optional, regulated, and therefor nonexistent.
If you are not in the EU, take this as a lesson and consider how your situation could become that of someone in the EU. Then act accordingly.
deleting the extra space after periods so i can stay relevant, yeah.
It's MY intellectual property, and if I ever discover my name in their database, there servers and database will be subject to electronic attack.
We are the government and since you don't have any guns to stop us, we can do whatever we like.
Fiat currency doesn't.
Govt can always track them when they cash out their bitcoins
Casteism