Just reading about the new EU rules they are considering.
I can understand registering transactions to and from €uros. Proof of ownership to stop criminal money and all...
But if they want us to register each transaction then they should do the same for cash money. Basically turning the EU in Hitlers fourth reich.
And maybe I'm a dumb fuck for stating the obvious but all transactions are recorded....it's called the blockchain...
In my country there is no legal requirement for persons to keep any books or record of transactions (only for companies) so there are going to have to big changes in laws.
I can understand registering transactions to and from €uros. Proof of ownership to stop criminal money and all...
But if they want us to register each transaction then they should do the same for cash money. Basically turning the EU in Hitlers fourth reich.
And maybe I'm a dumb fuck for stating the obvious but all transactions are recorded....it's called the blockchain...
In my country there is no legal requirement for persons to keep any books or record of transactions (only for companies) so there are going to have to big changes in laws.
Hi Wilhelm, now you get my point right? It is not that I am against regulation per se that aims at preventing fraudulent activities. What they want to achieve is that private transactions with decentralized currencies aren't possible anymore. If you have to prove the origin of funds every single time, it is much much different than what we experience when we sell our bike on ebay or craigslist for cash. Nobody in the world will ever ask you where the 150 Euro/USD are from that haven't been there yesterday!
The only way you can transact privately will be through verified wallet addresses with centralized verification and wallet service providers involved. I guess that could count as a very wordy description for a CBDC. Agree?
There is no such thing as anonymous wallets with CBDCs, and that is essentially what they want to currencies like Bitcoin into, should the wider public refuse to adopt CBDCs. In my personal opinion that's bad news. But I do see a possibility in the mid- to long-term future. All these 50 - 60 years old dudes running the councils and parliaments now will once be superseded by a younger, digital generation. The question than just is whether the banking sector by then is still equipped with the same political power as they are now. Or whether crypto businesses will take over.
Found you via Reddit, need to send you a pm but can't because you don't allow pm from newbies. Please enable the setting and msg me or check your reddit account u/templebct its about info I think you'd like to know, your suspicious re Open were correct.