The European Union (EU) has proposed putting an end to anonymity for Bitcoin users by requiring they register their "real-world identity" and addresses of virtual wallets on a database. The move comes as the EU is in the process of reforming its Anti-Money Laundering Directive (AMLD), in the belief a database would deter money-launderers and criminals using ransomware to blackmail individuals and corporations into paying up, using untraceable Bitcoin. The European Parliament is expected to vote on the proposal by the end of 2016.
The European Union (EU) has proposed putting an end to anonymity for Bitcoin users by requiring they register their "real-world identity" and addresses of virtual wallets on a database. The move comes as the EU is in the process of reforming its Anti-Money Laundering Directive (AMLD), in the belief a database would deter money-launderers and criminals using ransomware to blackmail individuals and corporations into paying up, using untraceable Bitcoin. The European Parliament is expected to vote on the proposal by the end of the year.