One of the central assumptions for Bitcoin was an anonymity and quick transactions.
As we know that the second assumption is no longer valid, changes with first can actually shock some of the users.
In Poland, from the second half of the 2018 year, the cryptocurrency exchange markets will be subjected to provisions on Anti-Money Laundering Directive and fund terrorism. These regulations will be included in the statute that is implementing EU directive AMLD IV.
After that, cryptocurrency exchange markets will have to apply financial security measures to their clients in accordance with the Act, as well as other institutions obliged to do so.
As Jacek Barszczewski, spokesman at Financial Supervisory Commission said: “transactions in digital currencies will be monitored in order to detect suspicious activities that may be related to money laundering or terrorist financing”.
The European Commission has amended the Anti-Money Laundering Directive. What does it mean for users? EU institutions will be able to control services and companies connected with cryptocurrencies. It will be applied mostly on cryptocurrency exchanges and producers of wallet software. The most important part is that they will have to point the owners if EU institutions ask for them.
Bruno Le Maire, French Minister of Finance worries about money laundering with cryptocurrencies. That’s why he persuades the remaining representatives of the G20 countries to discuss the issue of regulating the cryptocurrency market during the next year’s summit. The summit is planned for 30 November 2018.
As you can see, the governments, day by day, are noticing constantly growing cryptocurrency community. They see it as a danger to the financial system, as banks do.
Last modified: December 19, 2017
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