You knew this was coming.
In June the European Commission will propose new measures which will effectively end the possibility of staying anonymous while using virtual currencies such as Bitcoin and prepaid credit cards., reports The Stack.
EU Commission Vice President Valdis Dombrovskis commented:
With today’s Action Plan we are moving swiftly to clamp down on terrorist financing, starting with legislative proposals in the coming months. We must cut offterrorists’ access to funds, enable authorities to better track financial flows to prevent devastating attacks such as those in Paris last year, and ensure that money laundering and terrorist financing is sanctioned in all Member States.
We want to improve the oversight of the many financial means used by terrorists, from cash and cultural artefacts to virtual currencies and anonymous pre-paid cards, while avoiding unnecessary obstacles to the functioning of payments and financial markets for ordinary, law-abiding citizens.
(ht Scott Weisman)