UK and EU to expand Bitcoin regulation to combat money laundering and tax evasion

Following concerns that Bitcoin and other cryptocurrencies are being used for not only tax evasion but also money laundering, governments in the UK and across Europe are planning to introduce new regulatory measures. One of the key proposals will bring to an end the anonymity Bitcoin users have enjoyed thus far. In an attempt to bring the digital currency with real-world currencies, the UK Treasury wants to force all traders to reveal their identities. See also: Sneaky websites continue to mine cryptocurrency even after you close them Bitcoin sets new price record above $11,000 Bitcoin mining and transactions use more… [Continue Reading]