EU Plans To End Anonymity For Bitcoin And Prepaid Card Users

There’s a plan of the European Commission, which will be proposed in June, which will try to end the anonymity of virtual currencies, such as Bitcoin, and prepaid cards. The reason the European Union wants this new policy is that they need to fight terrorism more efficiently. However, the Europol just released a report, which says that terrorists are not using virtual currencies, especially Bitcoins, for funding their operations. They are not even using the dark net, they mostly use social media websites to spread their messages. The document also outlines the possibility of undertaking additional monitoring of inter-bank transfers within the European community, which are currently not overseen by the new EU-US Terrorist Financing Tracking Programme (TFTP). Valdis Dombrovskis, Vice-President of the EU Commission, added this comment:

“With today’s Action Plan we are moving swiftly to clamp down on terrorist financing, starting with legislative proposals in the coming months. We must cut off terrorists’ access to funds, enable authorities to better track financial flows to prevent devastating attacks such as those in Paris last year, and ensure that money laundering and terrorist financing is sanctioned in all Member States. We want to improve the oversight of the many

Read more ... source: TheBitcoinNews