The European Union Opposed Crypto Wallets
OREANDA-NEWS. Anonymous crypto wallets, according to European financial regulators, are increasingly being used for criminal purposes. Therefore, the European Commission proposed either to completely ban such a tool, or to change the rules to strengthen control over the movement of cryptocurrencies, including bitcoin. In a package of new bills, officials propose an option when full information about the sender and recipient of the payment is included in the transaction by a "cryptocurrency service".
These terms mean, for example, cryptocurrency exchanges or other organizations and companies. That is, something that exists not only in the blockchain world, but also in the familiar analog world. In other words, since it is difficult to influence the rules of functioning of cryptocurrencies themselves as distributed decentralized systems by traditional laws, it is possible to influence ordinary business, which ensures the connection of two worlds. Including the conversion of digital money into analogue euros and dollars. Thus, all transfers of cryptocurrency through such service services will be subject to the same rules as transactions through traditional payment systems and banks.
Interestingly, they are trying to push through a similar idea in the United States. Officials are discussing new rules for tracking cryptocurrency transfers, which imply, for example, that on the same cryptocurrency exchanges, when buying or selling digital money, the client must identify himself and the purpose of the transfer. They started talking about this after a series of high-profile ransomware attacks, which usually require ransom in cryptocurrencies.