Done Deal: EU Makes Crypto Traceable
No more tax evasion with crypto, as service providers now need licenses to operate and are required to collect and share data on all transactions with the relevant authorities.
No more tax evasion with crypto, as service providers now need licenses to operate and are required to collect and share data on all transactions with the relevant authorities.
The MEPs also believe that “statistics-based national contributions” should be imposed to address the EU’s budgetary shortcomings in this “critical period.”
To highlight the basic nature of crypto currencies, we will focus on the two most popular: Bitcoin and Ethereum. These two cryptos differ much in the same way as gold-standard currency differs from fiat currency.
While our current monetary system rests on national currencies and regulated banks, every new user of a cryptocurrency unlocks the potential of a system that cannot be overruled, made redundant, or inflated away. This is what scares monetary authorities the most.
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