New EU Proposals Seek to End Anonymous Bitcoin Trading

This proposal is moot. Whether or not it's a good idea, the EU is technically unable to effectively regulate bitcoin. Sure, you can place rules on exchanges, but since anyone with bitcoin can send it to any other person, identified only by one of an infinite number of wallet IDs, the EU will never be able to stop peer-to-peer bitcoin sales.

Wonder how long it will take before they realize that current tax system won't last in the long run. Right now only rich have the resources to offshore the profits, but technology will drive the cost down.

I welcome this. It's ridiculous that we have strict regulation on other monetary instruments but for some reason not for crypto currencies.

Good.<p>Bitcoin has been around for YEARS. It is not going to gain broad acceptance.<p>Bitcoin right now is like the stock market before the Securities and Exchange Commission was created in 1934, due to the fallout from all the fraud that led to the Great Depression.<p>A regulated currency market has both pros and cons; no question about it. But consider this:<p>- A decree comes down: &quot;From this point forward, bitcoin users can no longer use any other currency. All transactions, savings accounts, etc. will have to be bitcoin-based.&quot;<p>Assume, hypothetically, that this could be enforced.<p>Would you agree to stop using any non-bitcoin store of value?<p>If you say &quot;no, I&#x27;d still want to be able to use non-bitcoin currencies&quot;<p>.....then you need to take a look at that. Because it proves that bitcoin fails to perform some type of monetary function for you.

Having read all the comments below, it appears to me that people most fervently pro-bitcoin are the kind of people who convince people towards the other directions with their arguments. Whatever merits cryptocurrency might have, &quot;we need no goddamn taxes or governmetn&quot; is likely NOT bound to convince people FOR bitcoin etc.

I am still trying to find legitimate reason why someone will want anonymous pay. Bitcoin is almost always associated with underground markets, ransomware, money laundering, etc.<p>Can someone tell me a legitimate reason why I need anonymous cryptocurrency? Or what is used for?