Bitcoin: UK and EU plan crackdown amid crime and tax evasion fears
Treasury plans to regulate bitcoin and other cryptocurrencies to bring them in line with anti-money laundering and counter-terrorism financial legislation. Traders will be forced to disclose their identities, ending the anonymity that has made the currency attractive for drug dealing and other illegal activities.
Under the EU-wide plan, online platforms where bitcoins are traded will be required to carry out due diligence on customers and report suspicious transactions.
Bitcoin was trading at $11,566 on Monday. It hit a fresh record high of $11,800 on Sunday but fell to $10,554 on news of the regulatory crackdown.
I think crime is a stupid reason, as if their FIAT money is not used for drugs, terrorist and other bad things already. However tax evasion is a serious one and one in which people should start paying their dues.
@bitcoinflood can you upvote my post