The European Commission isn’t warming up to bitcoin. Or prepaid cards, for that matter.
The EU is proposing regulations to crack down on digital currency transaction rules, as well as for prepaid cards, Reuters reported. This is in efforts to curb anonymous payments that may be related to funding terrorism efforts, according to documents released yesterday (Feb. 2).
This follows the terrorist attacks in Paris last November, which have also encouraged the EU to consider implementing stricter regulations over bank transfers within the EU in order to better monitor how money is flowing into and out of the region. Bank transfers within the EU are not currently part of the EU-US Terrorist Financing Tracking Program.
“We must cut off terrorists’ access to funds and enable authorities to better track financial flows to