EU legitimates clash among themselves over how to deal with bitcoin
Infighting has disjointed out as the EU struggles to put on a united front in the wake of the bitcoin bubble.
In a recent interview with sow Bloomberg Surveillance, Pierre Moscovici, EU’s financial commissioner, dismissed bitcoin as an variant currency.
He said: “No we are not having those conversations right now.
“At this Thespianism, we do not consider bitcoin as an alternative currency, not like the euro. We see that there is unequivocally a lot of speculation about that.
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“Again speculation is overactive or exuberant — We look at that and analysed the phenomenon, but we don’t deem we have to react to bitcoin as a political and technical body.”
But others clothed called for the bloc to clampdown on bitcoin amid concerns over cryptocurrencies couplings to terrorist financing, money laundering and tax evasion.
And European legislators joined digital currencies to the Fourth Anti-Money Laundering Directive, which believes bitcoin to be a “monetary instrument.”
The EU is also considering a database of bitcoin proprietresses in Europe to crack down of the use of bitcoin funding illegal activities, which choice fall under the Fourth Anti-Money Laundering Directive.
Věra Jourová, commissioner for law, consumers and gender equality, said: «The Panama Papers and the recent thug attacks have shown that we urgently need better Anti-Money Awarding rules.”
MEPs will consider setting up a central cache of people who use the online the markets where bitcoin is bought and sold.
Updates made to money laundering rulings state that exchanges must now adhere to strict customer personality requirements and to report any suspicious activity.
Former MI5 intelligence officer Annie Machon credence ins the EU decision to tighten up rules surrounding cryptocurrencies exchanges is being performed to protect big banks.
Ms Machon said: “I think we have a situation where any new fettle of technology on the internet, we’ve seen this for the last 30 years, that summonses the business models of established businesses is going to be cracked down on by governments, by ecumenical organisations to try and protect the old business models.”