EU plans to create a database containing Bitcoin user identities, e-wallet addresses

Abstract: According to foreign media reports, the European Commission recently proposed to create a virtual currency transaction user database, which will include the real identities of these users and all associated electronic wallet addresses. It is reported that this is the first proposal put forward by the EU since the Paris terrorist attack "Anti-Money Laundering Directive (AMLD)" action plan in November last year. It was formally proposed in February this year and approved at the beginning of this month.

The new AMLD will end the anonymization of Bitcoin transactions in EU countries. The relevant EU regulatory authorities are promoting this action plan. The European Commission is currently drafting a revised AMLD, which involves virtual currency transactions.
In addition to ending the anonymity of virtual currencies, the draft would also provide EU financial intelligence units (FIUs) with tools to track such currencies, just as they do with legal tender.
In addition, in order to crack down on digital currency money laundering crimes, EU officials also plan to create a database containing the real identities and digital wallet addresses of users of Bitcoin and other virtual currencies.
FIUs will be responsible for creating and managing the database, while users will be able to register themselves.
EU: Such a database is needed to fight terrorism Last year, EU leaders met in Brussels and expressed interest in regulating Bitcoin and other virtual currencies, arguing that this would make it more difficult for terrorists and cybercrime gangs to carry out operations.
Digital currency trading platforms and e-wallet providers in EU countries will most likely have to comply with the new AMLD, and EU users will need to register their real personal information.
It is understood that Bitcoin is used in many cyber extortion, human trafficking, kidnapping, blackmail, hacker tool trafficking and many other illegal operations.
According to preliminary estimates, the revised AMLD will be put to a final vote in the European Parliament at the end of this year.