How will new EU database affect bitcoin gambling?

Discussion in 'General Bitcoin Gambling Discussion' started by Humble Servant, Jul 29, 2016.

  1. Humble Servant

    Humble Servant Active Member Staff Member

    There are reports this week that the European Union is planning to create a database to hold personal information on each crypto-currency user. For AML and KYC purposes they want to be able to link real world identities to wallets so presumably they will to be able to track if you are using your bitcoin activities like online gambling. Remember that online casinos, poker rooms and sportsbooks are not legal in every EU country.

    How successful do you think this initiative will be?
  2. EthHead

    EthHead Member

    I think this is another example of the EU passing laws about technology they know nothing about and don't understand.
  3. 2damoon

    2damoon Member

    It's possible that they will force online stores and gambling sites to only accepted BTC from KYC'd wallets. This would be catastrophic because it would remove anonymity from your transactions. Bitcoin users might end up having one wallet where they store their crypto for dark markets and another AML/KYC wallet that they are forced to use to make purchases online.
  4. Humble Servant

    Humble Servant Active Member Staff Member

    That is a possibility. Regular online retailers based in Europe will likely have little option other than to accept these kind of draconian laws but I doubt off-shore gambling sites would enforce them.
  5. Lance

    Lance Member

    I wouldn't lose any sleep over this. The EU seem to continually introduce half thought through ideas that are unenforceable and are ignored by many countries in the EU.
  6. Humble Servant

    Humble Servant Active Member Staff Member

    The ECB is now advocating that the EU curb bitcoin use because they fear losing control of the money supply. Things are getting interesting in Europe.
  7. Umair

    Umair Member

    The IRS are taking Coinbase to court to get access to all their customer accounts. I guess bitcoin is starting to become a big enough threat for governments in both the US and EU to start taking notice.
  8. Header

    Header Member

    The European Union is full of dumb bureaucrats who do not understand that bitcoin cannot be controlled. Let them make their stupid laws and regulations if it will make them happy.
  9. Humble Servant

    Humble Servant Active Member Staff Member

    France and Germany are now calling for a crackdown on bitcoin. Will these clueless idiots every learn.


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