Thursday, November 19, 2015

Now G7 Plans to Tighten Bitcoin Regulations

The Group of Seven industrial nations, the G7, reportedly plans on tightening the regulation of virtual currencies like bitcoin after last week’s terrorist attacks in Paris.

According to German magazine Der Spiegel, the group suspects that the Islamic State of Iraq and Syria (ISIS) has been funding its operations by secretly moving bitcoin.

The leaders reportedly discussed increased regulation of FinTech firms facilitating online money transfers during a private meeting at the Group of 20 (G20) summit in Antalya, Turkey on Monday.

Earlier today, I reported on EU plans to clamp down on bitcoin.

Also, a source that knows these things, tells me an investigation is on-going of individuals in the Bitcoin community who may have conducted exchanges with terrorists, most likely not being aware of the terrorists' backgrounds.

Recently, a US teen who used social media to advise on how to fund ISIS with bitcoin was handed an 11-year prison sentence.


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