EU is Voting to Regulate Crypto Further

It might not be breaking news to anyone who is actively following crypto and rules certain countries is trying to enforce on any crypto hodler. But EU has is now looking to vote on certain rules that may hold back any progress in regards to crypto. The vote will take place earliest 31st March, this Thursday.

In a blog from Coinbase, they have expressed how important it is to stand up and talk about these new rules and not let it fly over our heads, if we don’t speak up about it now, its going to do some damage in terms of privacy for anyone in the future.

Here are the reasons to why they would like to implement these changes within the EU:

(1) digital assets like Bitcoin, Ethereum and others are a primary way criminals hide and move money

(2) law enforcement has no way to track these movements

(3) requiring collection and verification of personal information associated with self-hosted is not a violation of their privacy

We hope that any banks will not lobby towards these rules that allow any EU government to access your private information and crypto assets. As its a clear advantage to them that this rule follows through, as one of the rules for example will be that you’ll have to declare any crypto transaction over 1,000 EUR.

This might be devastating to any gambler too and have a large impact as any casino might require full KYC from any customer within the EU, even if you do smaller deposits.

Coinbase clears up a lot better than us how this works in action, and we definitely recommend to give their article a read.

At Bigwin.bet, we’re very against this rule and we’re happy to have big actors who support the same thoughts as us as it will not only drive the price of Bitcoin or any crypto but we also seen it as an act of anti-privacy.

Leave a Reply

Your email address will not be published.

New Casinos
2.0 rating
A newcomer in the market with promising bonuses
3.5 rating
The most popular bitcoin casino in the world
3.8 rating
Get 100% up to 1BTC
3.8 rating
Get a 100% welcome package up to €1000 or 1 BTC + 150 Spins
4.0 rating
Grab a strong bonus up to 5BTC + 300 free spins
Bigwin.bet - The Best Bitcoin Casinos
© Copyright 2021 BIGWIN.BET - Part of GLHFAffiliates.com