EU Commission Proposes Central Database Record of Bitcoin Users
26 Jul 2016

The proposal seeks to require member states to bring into force the regulations necessary to comply with this directive by Jan. 1, 2017.

The updated anti-money laundering rules adopted May of 2015 marked an important step to improve the effectiveness of EU attempts to combat money laundering from criminal activities and to fight financing terrorist activities, the proposal noted.

The global financial system makes it easy to hide and move funds by creating layers of companies, crossing borders and hiding money streams. Terrorists and other criminals can cover their tracks.

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