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The European Commission's New Proposal Aims To Ban Anonymous Cryptocurrency Wallets

Mary Liu

Summary: According to a Reuters report, the European Commission proposed on Tuesday that companies must collect detailed information on the sender/receiver of BTC or other crypto assets, such as the customer’s name, address, age, and recipient’s name.  As part of the committee's fight against the financing of terrorism and money laundering, the proposal means that the ...

According to a Reuters report, the European Commission proposed on Tuesday that companies must collect detailed information on the sender/receiver of BTC or other crypto assets, such as the customer’s name, address, age, and recipient’s name. 

As part of the committee's fight against the financing of terrorism and money laundering, the proposal means that the EU wants to ban anonymous cryptocurrency wallets, the committee claimed in its statement that the new proposed law will make Bitcoin and other cryptocurrencies fully traceable.

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