EU plans to make Bitcoin transfers more traceable

Proposed changes to EU law would force companies that transfer Bitcoin or other crypto-assets to collect details on the recipient and sender.

The proposals would make crypto-assets more traceable, the EU Commission said, and would help stop money-laundering and the financing of terrorism.

The new rules would also prohibit providing anonymous crypto-asset wallets. The proposals could take two years to become law.

The Commission argued that crypto-asset transfers should be subject to the same anti-money-laundering rules as wire transfers.

To become law the proposals will need the agreement of member states and the European Parliament.

 

Source:  BBC, July 20th https://www.bbc.com/news/technology-57901113 

 

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