DRK suggested as alternative to …..>

Status
Not open for further replies.

tungfa

Administrator
Dash Core Team
Moderator
Foundation Member
Masternode Owner/Operator
Apr 9, 2014
8,906
6,729
1,283
http://www.thedomains.com/2014/07/1...uire-identity-verification-for-bitcoin-users/

Argentina and France Looking to Require Identity Verification for Bitcoin Users

JULY 15, 2014 BY RAYMOND HACKNEY LEAVE A COMMENT



There was an interesing article on Coin Buzz written by Andrew Moran, the article is about governments looking to find new ways and rules to regulate Bitcoin and other cryptocurrencies. Argentina and France will both be requiring identity verification. This may make an alt crypto currency like Dark Coin more desirable going forward. Dark Coin has stressed the need for an anonymous digital currency.

We engineered Darkcoin to be a digital version of cash. When sending Darkcoin, you choose whether the transaction is private or public.

Your Darkcoin are stored in a digital wallet that you own and control. Transactions are anonymous “from the wallet” meaning you don’t have to trust a third party to make the transaction private.

From the article:

Have governments and central banks finally gained the upper hand on virtual currency users? After two countries announced new efforts to garner more control over bitcoin and other digital currencies, some bitcoiners are concerned that anonymity and privacy efforts will be eviscerated with updated regulations.

With Argentina facing unprecedented rates of inflation, a destruction of the peso and numerous shortages, citizens are looking to protect their wealth by transferring their assets into bitcoins, gold and other valuable goods. This has caused the government to react vociferously.

Argentina’s Financial Intelligence Unit (FIU) – Unidad de Información Financiera (UIF) – has mandated all financial institutions to reportevery single digital currency transaction, whether they’re in bitcoin or litecoin, dogecoin or peercoin, to the government, according to Resolution 300/2014.

Citing concerns over money laundering schemes and terrorism financing, Argentina will require each bank to file monthly digital currency reports to the FIU. Financial institutions will have to allocate their resources to hone in on accounts affiliated with cryptocurrencies and monitor each client’s business dealings.

The new rule will commence in August.
 
Status
Not open for further replies.