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UK, EU to work together after Brexit to end crypto "anonymity"

04 Dec, 2018
by David Borman
Regulation
UK, EU to work together after Brexit to end crypto anonymity

It is being reported by Coinwire that the European Commission has released a declaration outlining plans for cooperation between the United Kingdom and the European Union post Brexit. In particular, there is a provision within that mentions "ending the anonymity" offered by some digital currencies.

The declaration covers many topics of which digital assets are only one. This particular bullet point can be found in Part 3 under "LAW ENFORCEMENT AND JUDICIAL COOPERATION IN CRIMINAL MATTERS," and reads as follows:

"Support of international efforts to prevent and fight against money laundering and terrorist financing, particularly through compliance with Financial Action Task Force standards and associated cooperation, with the Parties going beyond those standards with regard to beneficial ownership transparency and ending the anonymity associated with the use of virtual currencies."

To be fair, the wording here is exceptionally vague and so it is very much open to interpretation what this may eventually mean. Nonetheless, it is eerily similar to a recent announcement by the US Department of Homeland Security concerning privacy coins.

Is this the beginning of a larger crackdown on anonymous payments? Or simply governments doing what they can to prevent crime and terrorism? The coming years will likely tell the story.

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How about ending the banks money laundering / tax evading, Deutche bank, IGN, Santander etc, Crypto doesnt even touch this!!!!! It is only One case!!! “The Russian Laundromat.”

Trasta Komercbanka Latvia $3.2 billion
Privatbank Ukraine $2 billion
Danske Bank Denmark $1.2 billion
Bank of China China $717 million
Baltikums Bank (now Blue Orange) Latvia $702 million
Rosevrobank Russia $576 million
HSBC United Kingdom $545 million
Hellenic Bank Cyprus $529 million
Moldinconbank Moldova $437 million
Emirates NBD Bank UAE $357 million
Compagnie Bancaire Helvetique Switzerland $287 million
ABLV Latvia $282 million
Latvijas Biznesa Banka (M2M Europe) Latvia $189 million
Eurobank Cyprus Cyprus $178 million
Versobank Estonia $164 million
UBS Switzerland $162 million
Regionala Investiciju Bank Latvia $151 million
East European Trust Bank Russia $147 million
Royal Bank of Scotland United Kingdom $146 million
Krediidipank Estonia $122 million
Industrial and Commercial Bank of China China $93 million
Norvik Banka Latvia $85 million
Rietumu Banka Latvia $78 million
Nordea Bank Sweden $66 million
Bank of Communications China $64 million
Ukio Bankas (closed) Lithuania $62 million
BiznesInvestBank Moldova $62 million
United Overseas Bank Singapore $58 million
Agricultural Bank of China China $57 million
Oversea-Chinese Banking Corp. Singapore $53 million
Hang Seng Bank Hong Kong $52 million
Promsvyazbank Russia $45 million
Versobank Estonia $45 million
Citadele Banka Latvia $42 million
Credit Suisse Switzerland $40 million
Citibank United States $37 million
Victoriabank Moldova $35 million
Amsterdam Trade Bank Netherlands $35 million
Seb Bank Estonia $32 million
Standard Chartered Bank United Kingdom $29 million
Rigensis Bank Latvia $28 million
Commerzbank Germany $27 million
Abu Dhabi Commercial Bank UAE $26 million
MKB Bank ZRT Hungary $24 million
Deutsche Bank Germany $24 million
Mega International Commercial Bank Taiwan $20 million
Falcon Private Bank Switzerland $20 million
Turkiye Garanti Bankasi Turkey $20 million
Cyprus Popular Bank Cyprus $20 million
04 Dec, 2018 - 21:22
https://truepublica.org.uk/contributor-news/money-laundering-banks-now-global-epidemic/
04 Dec, 2018 - 21:31

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