The EU is demanding cryptocurrency users to register in a database - How this will affect Steemit & our community by albertfall

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· @albertfall · (edited)
$0.93
The EU is demanding cryptocurrency users to register in a database - How this will affect Steemit & our community
Hi #Steemians,

I read a few interesting #news articles today on the European Union's concerns of cryptocurrencies, and it just goes to show how afraid and threatened governments are by the anonymity of cryptocurrencies such as #Steemit, #Bitcoin, #Ethereum (Ether), and the lack of control that they have over them. I figured I'd write a quick #blog post to share my thoughts, and to find out what you think of this #crypto-news.

<center>https://i.imgsafe.org/9a1beb9ecd.png</center>

The articles reported that the European Union is looking to revise their Anti-Money Laundering Directive (AMLD), which will be expanded to include cryptocurrencies. This expansion in the AMLD will require any cryptocurrency user to register in a government database that can be tracked and used by government intelligence agencies. This will allow the individual government state intelligence agencies of the European Union to access our real-world identities as well as the addresses of our virtual wallets, and also where our currencies are being held.

<center>https://i.imgsafe.org/9a133ac6a9.png</center>

Now I do understand that some cryptocurrency users are using the anonymity of the currency for money laundering human trafficking, black market trading, extortion and even terrorism, but is this a case of "the more laws, the less justice."

<center>https://i.imgsafe.org/9a0bd37688.png</center>

I guess my concerns and questions are, what will happen to cryptocurrencies if the AMLD is reformed to include them? Will this be the end #life of cryptocurrencies as we know them? And if not, what do you think that the impact of this reform will cause? Lastly, what can our community do besides #verification and a #introduceyourself blog post to prevent #Steemit from being used for money laundering human trafficking, black market trading, extortion and even terrorism?

<center>https://i.imgsafe.org/9a5e891223.png</center>

I  personally predict that if the AMLD is reformed, we will see more users of cryptocurrencies adopt #anarchism as a system of belief, especially if this spreads from the European Union to #RU and the rest of Eastern Europe, and also to #CN and the rest of Asia where government oppression still reigns king.

<center>https://i.imgsafe.org/9a30d64cb5.png</center>

#Whales or not, and even if you're new to Steemit, I would love to hear your thoughts on this. Leave a comment below and let me know what you think of the possible reform to the AMLD.
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@question-answers ·
<p><strong>Welcome </strong>to the Steemit community! I have added you to my list of people to follow and I hope that you will do the same.</p>
<p>I have also created a blog here and would like to ask if you would kindly <strong>contribute </strong>some of your <strong>knowledge </strong>to the <strong>community </strong>and perhaps <strong>answer a question</strong> or two I have posted on the links below.  </p>
<p>By simply answering a few general questions your help to build our <strong>collective knowledge base</strong>, and your input is valuable.</p>
<p><strong>How valuable is my input?</strong>  Well answers to the questions you post have the opportunity to earn <strong>STEEM </strong>which can be converted into Bitcoin and then your countries local currency!  <strong>IT IS TRULY AMAZING!</strong></p>
<p><strong>I once answered a question on here and received 59 STEEM which converted to roughly $177.00 in USD!  </strong> The reason was that my answer was of value to readers!  So please add your value and answer a few questions here:</p>
<p><a href="https://steemit.com/questions/@question-answers/what-should-every-foreigner-know-about-your-country">What should every foreigner know about your country?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/what-is-your-favorite-youtube-video-of-all-time">What is your favorite YouTube Video of all-time?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/what-is-your-favorite-quote-which-quote-inspires-you">What is your favorite quote: Which quote inspires you?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/payout-timer-when-do-you-get-paid-for-your-contributions">Payout timer.  When do you get paid for your contributions?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/what-is-the-role-of-religion-or-spirituality-in-your-life">What is the role of religion or spirituality in your life?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/what-is-the-best-habit-you-ve-taken-up-from-another-person">What is the best habit that you have taken up from another person?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/what-is-the-best-way-to-lose-weight-tell-us-how-you-did-it">What is the best way to lose weight and how did you do it?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/what-would-you-do-differently-if-you-knew-nobody-would-judge-you">What would you do differently if you knew no one would judge you?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/what-are-some-amazing-facts-that-sound-like-bs-but-are-actually-true">What are some amazing facts that sound like BS but are actually true?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/what-is-the-best-music-video-of-all-time">What is your favorite music video of all time?</a></p>
<p><strong>YOUR CONTRIBUTIONS MATTER!  YOUR ANSWERS MATTER!  YOUR QUALITY ANSWERS PAY!</strong></p>
<p> #QUESTIONS #ANSWERS #CONTRIBUTE #TELLYOURSTORY #DISCUSS #VIVASTEEM </p>
<p><br /></p>
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@albertfall ·
Thanks for the upvote @question-answers, and for the follow. I just followed you back.

I'm all about building not only my knowledge base but also our collective knowledge base as a community.

I'll be contributing to some of your blog posts today. 

Cheers!
👍  
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@cryptoninja ·
Oh , they have so much catching up to do , we will see some of these laws in 5 years at least ... 
And what if ? We will all use VPN's and/or Tor  if we don't agree to just mine , spend or receive our cryptocoins in the same anonimity as today
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@albertfall ·
Thanks for chiming @cryptoninja. 5 years does seem far away, but time does fly fast. Don't you think that VPN's and/or Tor will be next on the list of governments to create laws to better control how anonymous we can be online? I foresee that this might just be the case.
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@cryptoninja ·
They will always be 2 steps behind if you ask me ... In 5 , 10 , ... years
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@daf ·
I honestly hope that this potential law does not pass. Like ever.
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@albertfall ·
Thanks for joining the convo @daf. I personally think that this will likely happen, especially considering that it's an expansion of an already pre-existing law, even though that law doesn't encompass cryptocurrencies at this time.
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@desmonid ·
$0.34
This is *terrible* news. Even if this doesn't pass, I'm afraid it can scare potential new faces away from crypto. 

Although, *if* they do pass it seems that it will be very very difficult to enforce, especially in the face of mass non-compliance.
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@albertfall ·
Hey @desmonid, I'd have to agree with you. If the reform is made, this will be hard to enforce, but it will still accomplish what intelligence agencies are seeking to do.
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@mindhunter ·
Agent Smith: It seems that you've been living two lives. One life, you're Thomas A. Anderson, program writer for a respectable software company. You have a social security number, pay your taxes, and you... help your landlady carry out her garbage. The other life is lived in computers, where you go by the hacker alias "Neo" and are guilty of virtually every computer crime we have a law for. One of these lives has a future, and one of them does not.
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