The European Union through legislation to strengthen the regulatory bitcoin to crack down on money laundering

The European Union through legislation to strengthen the regulatory bitcoin to crack down on money laundering

The European authorities (EU) has been firmly control bitcoin, because they think that other digital currency bitcoin money laundering crime and increase financing channels.

According to reports, many of the current mainstream British banks had already been associated with money laundering and criminal organization funds. Researchers think the traditional financial products than bitcoin is more vulnerable to the terrorists.

The EU to strengthen supervision of bitcoin

EU officials have been concerned about bitcoin money laundering and other issues, the European Financial Committee and the Executive Committee have stepped up efforts to combat crime, money laundering bank in europe. Since February 2016, the EU has been committed to cancel the anonymity of bitcoin transactions, including anonymous channels and other encryption currency prepaid card.

Last year, the EU government agencies have been drafted and submitted proposals, plans to block chain information without authorization “to achieve rollback access, criminals on the use of electronic money laundering.

EU regulators seem to be similar to bitcoin so small, and to the center of the electronic money economy is not friendly, especially in recent years, the traditional financial giant illegal money laundering billions of dollars of case.

The traditional financial products are more vulnerable to terrorist use

Recently there are some association between media exposure found Russian money laundering organization and a number of UK financial institutions, these banks including 17 covering European financial companies, such as Barclays Bank, Royal Bank of Scotland, Lloyd and HSBC.

HSBC with $545 million 300 thousand in cash money laundering, and most of them are carried out by the Hongkong branch. The guardian said. “The UK has a 71% stake in Royal Bank of Scotland is the amount of money laundering $113 million 100 thousand.”

This week the European Union lawmakers submitted a draft report, plans to increase the number of new bitcoin amendments in the EU regulatory guidelines.

The amendment shows that when it comes to anonymity, especially the public block chain like bitcoin, should strengthen supervision.

The Royal United Services Institute consultant DavidCarlisle explained: “bitcoin as a special threat, will produce a misleading impression. But in fact, the traditional financial products more vulnerable by terrorists.”

Leave a Reply

Your email address will not be published. Required fields are marked *