EU VP Warns that Cryptocurrency Anonymity Must Be Stopped

Citing fears that cryptocurrencies could allow people to do things illegally, the EU Commission VP is calling on the governing body to crack down hard on cryptocurrencies, and especially to hone in on ways to prevent cryptocurrencies from allowing anonymous transactions.
Whenever authoritarians like this VP of the EU use phrases like “unlawful,” substititute the phrase with “action that the state cannot monitor or control.”  The EU lives and dies on its power to track exchange of value between entities so that it can impose its fee (tax), a fee it knows will get paid because of the implied, and sometimes direct, threat of violence against the entity that dares not cough up the fee for having the ‘privilege’ of exchanging value with another entity.
I, for one, welcome the emergence of the crytpo-black market.

Bitcoin to come under EU regulation as Brussels plots to kill cryptocurrency anonymity
BITCOIN and other cryptocurrencies such as Ripple and Ethereum could be regulated closely by the European Union in an effort to give investors less anonymity, EU Commission Vice-President Valdis Dombrovskis has said.

Speaking at the Economic and Financial Affairs Council press conference, Mr Dombrovskis said: “I made some suggestions on how the EU should approach cryptocurrencies.”Mr Dombrovskis said the European Union wants “Europe to embrace opportunities of blockchain”, but he warned the EU must be “vigilant” and prevent cryptocurrencies from becoming a method of “unlawful behaviour”.Mr Dombrovskis outlined his plans to regulate cryptocurrencies. He said the European supervisory authorities must update warnings on the financial stability and investor protection surrounding cryptocurrencies.

 

Read More at Express.co.uk
About Paul Gordon 2930 Articles
Paul Gordon is the publisher and editor of iState.TV. He has published and edited newspapers, poetry magazines and online weekly magazines. He is the director of Social Cognito, an SEO/Web Marketing Company. You can reach Paul at pg@istate.tv

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