by Summary:
Read the comments, too. Just like most economists, Bitcoin fans overlooked transaction costs.Wolf StreetBitcoin Proves You Cannot Have Your Digital Cake and Eat it Too Nathan McDonald, Sprott Moneyalso The EU is targeting bitcoin anonymity, saying the measure is needed to tackle tax evasion and other crimes. Anonymity of the cryptocurrency holders is a built-in feature that the EU hopes to undermine.The new rules concerning cryptocurrency passed on Friday by the European Parliament and the European Council are part of a larger package, which also target prepaid cards and trust funds. The agreement is meant to be enshrined in legislation within 18 months by EU members. Once they become law, the rules will require cryptocurrency exchange platforms and wallet providers to identify their
Topics:
Mike Norman considers the following as important: Bitcoin, money creation, theory of money, transaction cost
This could be interesting, too:
Read the comments, too. Just like most economists, Bitcoin fans overlooked transaction costs.Wolf StreetBitcoin Proves You Cannot Have Your Digital Cake and Eat it Too Nathan McDonald, Sprott Moneyalso The EU is targeting bitcoin anonymity, saying the measure is needed to tackle tax evasion and other crimes. Anonymity of the cryptocurrency holders is a built-in feature that the EU hopes to undermine.The new rules concerning cryptocurrency passed on Friday by the European Parliament and the European Council are part of a larger package, which also target prepaid cards and trust funds. The agreement is meant to be enshrined in legislation within 18 months by EU members. Once they become law, the rules will require cryptocurrency exchange platforms and wallet providers to identify their
Topics:
Mike Norman considers the following as important: Bitcoin, money creation, theory of money, transaction cost
This could be interesting, too:
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Mike Norman writes My new podcast episode is out.
Wolf Street
Bitcoin Proves You Cannot Have Your Digital Cake and Eat it Too
Nathan McDonald, Sprott Money
also
The EU is targeting bitcoin anonymity, saying the measure is needed to tackle tax evasion and other crimes. Anonymity of the cryptocurrency holders is a built-in feature that the EU hopes to undermine.
The new rules concerning cryptocurrency passed on Friday by the European Parliament and the European Council are part of a larger package, which also target prepaid cards and trust funds. The agreement is meant to be enshrined in legislation within 18 months by EU members.
Once they become law, the rules will require cryptocurrency exchange platforms and wallet providers to identify their clients. Identifying individuals and entities holding bitcoin and other digital currencies will presumably help to prevent tax evasion, money laundering and financing of terrorism.As Yves Smith has said, "prosecution futures."
RT
Crypto-crackdown: EU agrees on new rules to curb bitcoin anonymity