Quote from: pvk444 on April 15, 2018, 09:59:27 PM

Quote from: Ultegra134 on April 15, 2018, 11:21:39 AM

Quote from: pvk444 on April 15, 2018, 06:25:07 AM

Quote from: fullypak on April 15, 2018, 12:24:49 AM

The financing of money laundering and terrorism is a huge problem all over the world, we know that but i think the demands of the European Parliament are not related to these issues, they are just excuses. They want our information because they want to manage our money, it's their job.

Assuming these regulations would be implemented, how would they "manage our money"?

I actually find really hard to even pass these regulations due to the nature of Bitcoin and cryptocurrencies. It's almost impossible to track our every move while at the same time there are several ways to store your funds offline, supposing the governments could actually track online storage/wallets. I don't doubt that something won't happen towards the regulation of crypto, buy I do doubt its effectivity.

Not that hard at all. Regulator just has to make sure that no money flows into or out of cryptocurrencies without the transparency of transactions.

They don't need to track your movements directly. If there is, however, no way to take money out of cryptocurrency without transparency, such transparency will be enforced indirectly.

Assume you are a business. You only sell against bitcoin, but the bills (eg electricity, web hosting, wages, taxes etc) are in USD, so you will need to exchange the btc income for usd and move that usd to your bank account to pay the bills. The regulator can force banks not to accept any usd tranfers from any cryptoexchange without proof of providence.

I get your point, if you actually withdraw money from the exchange into your bank account, you are bound to be caught and taxed one day. However, there are other ways to exchange Bitcoin and cryptocurrencies, via face-to-face deals, this is the minority though to be honest but my point is that it can still be bypassed. If these regulations do pass, then they will probably start catching up most of the transactions/money laundering coming through banks.