The fear of the european Union results in a new repression for the Bitcoin

The legislators of the european Union decided Friday to impose more stringent controls on the crypto-currency is the most popular in the world, the Bitcoin. This decision is related to concerns about terrorist activities.

Indeed, some governments and institutional investors believe that this technology is being used for fraudulent purposes. According to them, the Bitcoin is used to fund terrorism. A solution that is not subject to any regulation or authority.

Check out below the video telling about this announcement :

The european Union against the Bitcoin

The european Union has updated its law lighthouse of 2015, the fourth directive against money-laundering. Vera Jourova, european Union commissioner for justice, has confirmed that today’s agreement will bring more transparency to improve the prevention of money laundering and stop the financing of terrorism. According to Reuters, the companies of trade of Bitcoins that hold these digital currencies must now identify their users, according to new rules adopted by the european legislators.

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The Bitcoin has been at the heart of all discussions this year, even causing the concern of governments. However, the proposed legislation was in direct response to the attacks in Brussels and Paris in the past two years.

A device is organised in five parts

Deutsche Welle detailed the legislation in five parts. First of all, it is necessary that the companies operating in the sector identify the users. The use of cards of prepaid payment will also be limited. These professionals must also ensure total transparency in all their transactions. The investigators will have access to the information. All transmitted data will also be accessible to the competent authorities.

Ireland, Cyprus, Great Britain, Luxembourg and Malta are all opposed to different levels in the negotiations, because these countries wish to develop this technology. The update must be ratified by the member States, then processed regionally at the beginning of 2019.

Source : NewsBitcoin