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27 July 2021

Bitcoin price slides amid EU call to make transfers traceable, and rise of ‘stablecoins’

Bitcoin price slides amid EU call to make transfers traceable, and rise of ‘stablecoins’


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Bitcoin price slides amid EU call to make transfers traceable, and rise of ‘stablecoins’.

The European Commission said companies handling virtual assets, such as bitcoin, should become subject to anti-money laundering rules, along with transparency requirements for transfers of crypto assets.

For example, a company such as a bank handling cryptocurrencies for a client would be required to include their name, address, date of birth and account number, and the name of the client.

Part of a wider crackdown on money laundering, the European Commission said: “Given that virtual assets transfers are subject to similar money-laundering and terrorist-financing risks as wire funds transfers ...

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