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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 financial means used by terrorists, from cash and cultural artefacts to virtual currencies and anonymous pre-paid cards, while avoiding unnecessary obstacles to the functioning of payments and financial markets for ordinary, law-abiding citizens.”

About the impact of these measures, we can quote tech paper, TheStack, on this:

„In December, the EC proposed a Directive on combatting terrorism [PDF] criminalizing terrorist financing techniques, as well as training and travel for terrorist purposes. In May 2015, the EU adopted the Fourth Anti-Money Laundering Package, and the new regulations are intended to bring virtual currencies and prepaid cards – and, in effect, any ‘burner’-style anonymous currency methods – under the terms of that legislation, with full oversight. The ‘Bitcoin-ban’ will effectively prevent Bitcoin from being turned back into ‘real money’ within the EU, and the primary effect such legislation is likely to have will be in the area of illicit purchases from the ‘dark net’, where users can currently purchase drugs to be posted to an address of their choice from the various outlets that survived the fall of the Silk Road deep web narcotics websites.”

7 comments

  1. EUROPEANS ARE MONKEYS

    Wait before 2011 When Silk Road was created the World was perfect and no terrorism or traffic of drugs existed?
    Today maybe 0.000000000000001% of Drug traffic are in deep web . the biggest traffic are in the Real world with USD.
    Fuck this politicians and the Banks . the central Banks are the biggest criminals in the world .
    like Federal Reserve or BCE .

  2. wht-ever!
    the EU won’t be around for much longer any-way…..
    its gunna get swamped with sand nogz and rapeugees!

  3. According to this, is that Europe has plans to invade 80 countries? Starting with the Channel Islands and Gibraltar? That thought of the Queen of England?

    To be clear I am Phd in Financial Engineering, and every time I see such bullshit, I wonder how a mentally retarded can control something that not even understand.

    Is this another excuse to steal and throw taxpayer money?

    Well if, after knock down silkroad also said that black markets would end, and from the shutdown of silkroad, I only see them bloom of new markets, this is like the head of the hydra, cut one and appear 50.

    To talk about the history of bleach I have to go back to the history of banking, it makes more than 2 centuries.

    I can tell bleaching existed long before than the bitcoin, or internet, as also of all bankers working with black money and pay millions in fines for constantly laundry.

    How money is channeled through wester union or money gram.. or many other systems, in fact I doubt anyone really use bitcoin for this.

    If any government really intended to end laundering,first should end banks, starting with the world’s largest private bank, the Federal Reserve.

    So that if now some funny banker comes up, to print these cards in North Korea, means that Europe plans to invade North Korea?

    When Japan is including bitcoin as a currency, it seems that in Europe only know how to eat in good restaurants with taxpayer money.

    With central banks near to colapse, financial markets very close like crack as 1929, with USA doing nuclear tests … And near to the III world War seems really stupid to talk about this.

    They should concentrate on printing more money, but for present these money to people, so at least would rise consumption.

    Good engineers do not work for governments because in the interpol pay very little money and I love my Ferrari, work in blockchain for big banks like UBS for more 500,000 annual salary, soooo…couch….couch….big ouch….

    As it toppling silkroad only thing they get is 10 marketplaces more the next day, it’s the same as going to get when there is a hole in a boat and close it with a paper ball.

    Pause, jajajajaaja, make me laugh.

    Politicians in Europe, go to the University before coming please, or better make us a favor and jump from a window.

    It was used bit, or other currencies, tor, i2p, freenet, or retrosare was used, or someone invent a new network, but try to cut the head of the hydra is something that will not happen, at least not in this way.

    Allow me to control the money of a nation and I don’t care who makes it’s laws.

    “Nathan Mayer Rothschild”

  4. You may have a Phd but your grammar is comparable to that of a 10 year old!

    Where did you get your Phd from? The interwebs?!

    • Lord Effington Three Sticks

      Fluke: He’s not a native english speaker you douche bag.

      He’s doing just fine because I understood what he said. That’s the point of communication.

  5. What a load of bullshit. Terrorists, like ISIS, are being funded by same armies that fight against them. Isis for instance is being funded by selling extremely cheap oil(which is why oil prices tanked to 27$ and why Turkey isn’t doing anything to stop them), not to mention the amount of toyota pickup trucks ISIS has. Some terrorist groups are/were being funded through selling of drugs (like in Afghan where most[like 90%] of worlds heroin is being harvested from and being shipped through broad daylight by military transport airplanes).
    The reality of situation is that the fiscal union that EU once was is transitioning towards a federal union (something like US). Rapefugees and multiculturalism is destroying national identity/culture of all countries in EU, Greece is being blamed for it while EU was allowing these illegal immigrants to come in first place. Nationalism in Greece, Hungary and Poland is being cracked down upon by massive forces (political, financial and cultural like EU, IMF and the pope).
    Globalists are on their way of creating their planned world. We can fight them on our field of expertise. I know very little about programming, but more than enough to get an idea of distributed network that doesn’t require ISPs or any additional hardware (other than Wifi router). Just open up your available wifi list and look how many there are. Just think if all of them talked to each other. The idea is basically a moded DD-WRT firmware with protocol(thats encrypted enough) allowing routers to talk to each other. After the popularity hits then globalists wont be able to have control over the internet.

  6. they build totalitarian capitalism, in interest of billionaires who finance political parties. nothing more, nothing less.

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