E.U. Plans Making Cryptocurrency Transfers More Traceable

[engine]

The European union is planning to make cryptocurrency transfers traceable, and to prohibit anonymous crypto-asset wallets.

[bbc.co.uk...]

[graeme_p]

This seems to rely on money launders, terrorists etc. making their transactions through regulated service providers.

Sounds like another example of politicians not understanding new technology.

[engine]

I suspect their intentions are good, along with obtaining taxes. You're correct, polititans don't have a good record on new technology regulations.

[graeme_p]

@engine you could also assume worse intentions with the motivation of greater surveillance of people in general (who will be more likely to use regulated service providers).

[NickMNS]

The European union is planning to make cryptocurrency transfers traceable, and to prohibit anonymous crypto-asset wallets.

Actually that is not what the EU is planning. It is what the EU representative said, but apparently not was was written in the proposed regulation.

What is planned is:

The rules prohibit providing anonymous services, such as crypto custody or exchange accounts provided by a third party, not the provision of software for self-custody.

For more details and specifics see this article from CoinDesk.
[coindesk.com...]

And all this confirms what Graeme_p astutely pointed in his first post:

Sounds like another example of politicians not understanding new technology.