Category Archive : Bitcoin

Dissidents and Activists Have a lot to Gain From Bitcoin, if Only They Knew It

Bitcoin is working as Satoshi intended and already helps people facing repression. The problem is, many others don’t know about it yet.

Maduro Plans to Airdrop Petro to Municipal Leaders and Eligible Citizens

Maduro Plans to Airdrop Petro to Municipal Leaders and Eligible Citizens

The president of Venezuela, Nicolás Maduro wants the nation state-issued cryptocurrency, petro (PTR) to have the same usability properties as a physical currency. On December 13, Maduro explained on national television that the Superintendence of Crypto-Assets and Related Activities (Sunacrip) will be airdropping 0.5 PTR ($30) next week to eligible citizens who register with the Petro App.

Also read: North Korea Plans to Launch Cryptocurrency to Bypass Economic Sanctions

Venezuelan President Aggressively Pushes for Petro Adoption

The United Socialist Party leader and Venezuelan president Nicolás Maduro has been marketing the country’s cryptocurrency, the petro (PTR), aggressively recently. In November, Maduro told the public that PTR needs to be just as usable as physical currencies. “The usability is very important, so we can distribute the petro,” Maduro explained at the time. The Venezuelan head of state noted that there are citizens who don’t have a phone, but emphasized that “usability can be done with a card.” Maduro continued by saying that just like the 18 million Venezuelans with the Carnet de la Patria (Homeland card), a card for PTR can be created. The Homeland card is a Venezuelan identity card that leverages a QR code and a digital wallet. Maduro’s announcement further stressed:

We can give debit cards with petro, that is, build a solid monetary system and boost the usability of the Venezuelan cryptocurrency.

Maduro Plans to Airdrop Petro to Municipal Leaders and Eligible Citizens
Sunacrip Notice 19 and 20 discuss Maduro’s push for petro (PTR) usability and adoption, while the notices also notify the public of the approval of 30 million barrels of crude oil to back the cryptocurrency.

The Venezuelan leader went on to say that the state’s electronic payment system will help the country “seek a definitive exit to the economic war.” Maduro remarked that thousands of Venezuelan merchants will be onboarded by next year and the state’s digital currency system is “taking the right steps to consolidate the economy.” The usability news from the president followed his decision to approve a total of 30 million barrels of crude oil and petroleum products to Sunacrip. The 30 million barrels of oil backing the PTR is much smaller than the promised five billion barrels of oil the Venezuelan government initially pledged to leverage.

Maduro Plans to Airdrop Petro to Municipal Leaders and Eligible Citizens
Initially, the United Socialist Party leader promised to back the petro (PTR) by 5 billion barrels of crude oil, but Maduro has since dropped the backing to only 30 million barrels.

Venezuelan Pensioners, Government Personnel, and Retirees to Get a Petro Airdrop Next Week

On Friday, regional reports detailed that Maduro told the public on a state television broadcast that Sunacrip would be using the state’s new digital currency payment system the Petro App to airdrop 0.5 PTR ($30) to eligible citizens. Pensioners, government personnel, and retirees can obtain the PTR bonus next week and other citizens can apply for the Petro App to find out if they are a beneficiary. Maduro explained during the television broadcast that the airdrop will be a “test mechanism” in order to drive petro adoption. Additionally, Maduro approved the disbursement of 500 thousand petros and 10 billion bolivars to Venezuelan mayors and governors. The Venezuelan highlighted that the disbursement would be pertinent to cover expenses needed to operate the 335 municipalities in the country.

Maduro Plans to Airdrop Petro to Municipal Leaders and Eligible Citizens
The Petro App home page where eligible citizens can register for the PTR airdrop. Registering for the Petro App requires Carnet de la Patria (Homeland card) identification alongside other personal information.

The airdrop of PTR given to pensioners, retirees, and municipal leaders will be the first of its kind when it comes to a nation state doling out its own cryptocurrency to citizens. The latest announcements show the United Socialist Party, Sunacrip, and other Venezuelan state agencies are pushing the petro hard throughout the country. Moreover, skeptics believe the petro network is only used by bureaucrats and their friends to skip international sanctions initiated by the U.S. Similar to North Korea, Maduro’s quest to exit to the economic war may be fueled by crypto.

What do you think of the details provided on the petro (PTR) airdrop so far? What do you think about Maduro’s quest? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Image credits: Shutterstock, Petro Logo, Wiki Commons, Fair Use, Sunacrip Notices, and the Petro App home page.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

The post Maduro Plans to Airdrop Petro to Municipal Leaders and Eligible Citizens appeared first on Bitcoin News.

How DeFi Goes Mainstream in 2020: Focus on Usability

DeFi and cryptocurrencies can go mainstream, but they need to be as easy to use as Facebook or Google.

How SLP Dividends Can Tokenize Anything, Including the Stock Market

How SLP Dividends Can Tokenize Anything, Including the Stock Market

Not everyone is lucky enough to have access to the stock market and the ability to buy shares in successful corporations like Apple or Coca-Cola. Many impoverished and politically restricted areas make such participation impossible for those who live there. However, thanks to the ability to tokenize virtually anything via SLPs (Simple Ledger Protocol tokens) and also to pay dividends on these same assets, myriad new possibilities have emerged. One of which being tokenization of traditional stocks, so people with nothing more than a $20-dollar smartphone and an internet connection can participate.

Also Read: SLP Token Market Cap Surpasses $50 Million

How SLP Tokens Work

SLP tokens are built on the Bitcoin Cash blockchain and function similar to Ethereum’s ERC-20 protocol. Anyone can have fun making their own SLP for just a few cents in BCH, and through the new dividends tool, issue payments to holders of these tokens at any time, in whatever amount they would like. This creates an opportunity for a business to become its own mint on the BCH chain, without going through all kinds of hassle or paying high fees. Once a new SLP token is minted, it can be held, used for special offers and unique functions, or as stated, issued to shareholders for the payment of dividends. For those interested in creating their own SLP token, it can be done easily via memo.cash or the Electron Cash SLP wallet.

Sending SLP Dividends to Anonymous Bearer Share Holders

Once an SLP is created it can be sent to effective shareholders who will receive payouts via the token when the issuer decides to send them. Each SLP has a unique token ID. Using Bitcoin.com’s SLP Dividend Calculator, a token creator can enter this ID and then enter the customizable payment settings such as amount and block height at which the payment should be broadcast. The tool will automatically calculate how much BCH each SLP token holder should receive proportionate to their token holdings. The calculator tool also allows tokens to be airdropped to users.

Back in August, news.Bitcoin.com’s Jamie Redman posted a detailed tutorial for issuing SLP dividends using the calculator tool. A video tutorial posted by Bitcoin.com Executive Chairman Roger Ver is also available, and goes into some potentially revolutionary uses for SLP dividends like making the traditional stock market accessible even to residents of third world countries. Describing a scenario where a traditional company stock like Coca-Cola is held by a financial custodian and then tokenized and sold, Ver states:

Right now the only people that can buy Coca-Cola stock are whatever institutions or somebody in a first world country … But if you tokenize the Coca-Cola stock now anybody, anywhere in the world with a $20-dollar cell phone can now own tokenized Coca-Cola shares.

Of course, it’s not just impoverished or geopolitically embattled parties that could make use of this opportunity. Anyone could. Further, if such SLP tokenized stock is sold at a premium due to the convenient service being provided, issuers might be incentivized to buy even more tokens — whatever crypto or token they are using — and then issue even more tokenized stock. This could theoretically lead to a largely tokenized, parallel stock system.

Darknet Markets, Bonds, and IPOs

Other possible applications for dividend tokens could be found in darknet marketplaces, bonds, and IPOs. With correct privacy protocols in place, darknet marketplaces might offer shares and rewards to their clients. Businesses can issue the tokens as bonds and pay interest on chain via the dividend. IPOs could be facilitated for anyone and everyone with the will to start a business, not just big corporations. Thanks to technology, striving for financial freedom and the ability to work for one’s own sustenance and happiness isn’t just limited to those with a Charles Schwab account anymore. Crypto and SLP dividends pave the way for true financial inclusion — not just more Wall Street special interests.

What are your thoughts on SLPs and tokenizing the stock market? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any products, services, or companies. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Images courtesy of Shutterstock, fongleon356, fair use.


Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

The post How SLP Dividends Can Tokenize Anything, Including the Stock Market appeared first on Bitcoin News.

Stone Bitcoins and Echoes From the Past

The best Sundays are for long reads and deep conversations. This time we’re reflecting on the past and taking a deeper look at one of the most interesting blockchain allegories that doesn’t involve technology at all…

Let’s Talk Bitcoin! #421 Stone Money and Echoes of the Past

On Today’s Show…

We’re listening to echoes of the past. In the midst of the biggest bubble yet, finding ourselves in the “then they laugh at you” phase, and with the china narrative rising for the first time as trade volumes overtook the rest of the world, I was joined by Stephanie Murphy and Andreas M. Antonopoulos in early 2014 for a conversation that is very different, yet somehow the same as we reacted in real time to all-time high prices of $220,

But first, In the nearly seven years since we started talking Bitcoin, my favorite segment from my favorite writer is without question, the island of stone bitcoins by then-LTB managing editor George Ettinger. Bitingly funny and still one of the easiest ways to accurately explain how blockchains and tokens work without the need for technology at all, even if you know this story you’ll learn a thing or two, at least I did.

This episode is sponsored by Brave.com and eToro.com, and is distributed in partnership with CoinDesk.com

At a Refugee Camp in Iraq, a 16-Year-Old Syrian Is Teaching Crypto Basics

Here’s what an unbanked refugee really thinks about crypto.

Bitcoin.com Exchange Lists More Tokens for Trading

Bitcoin.com Exchange Lists More Tokens for Trading

Bitcoin.com Exchange was launched in early September 2019 as an easy-to-use platform with world-class security and a powerful trading engine. The venue has rapidly expanded its roster and now offers 27 different digital tokens for users to trade. Two of the latest additions to the exchange are ACD and HEX.

Also Read: Gocrypto SLP Token Starts Trading on Bitcoin.com Exchange

ACD Token Added to Trading Platform

Bitcoin.com Exchange recently added to the trading platform the ACD tokens created by a Tokyo-based company of the same initials. Alliance Cargo Direct is a technology company aiming to improve international e-commerce and logistics processes. In particular, they are focused on helping overseas customers to buy authentic Japanese products directly from Japanese suppliers.

In 2017 Alliance Cargo Direct developed the ANA mall app targeted at the Chinese market, which enabled Chinese customers to purchase Japanese goods conveniently and without any language barriers.

As a subsidiary of ANA Holdings, Alliance Cargo Direct leverages ANA’s logistics network to deliver goods to customers quickly and cost-effectively. Alongside their e-commerce solution for Chinese customers, the technology company also offers a multilingual chat-service and a system which allows users to clear customs prior to sending goods. This is meant to enable up to 30% savings in tax expenses.

Bitcoin.com Exchange Lists More Tokens for Trading

In 2018 Alliance Cargo Direct announced they would start using blockchain technology and issue their own token to address challenges in the e-commerce market, such as long transaction times and high costs for any merchant wanting to sell Japanese goods to the international market. By implementation of blockchain technology, they will provide customers with more transparency and speed during the payment process when purchasing Japanese goods.

When Alliance Cargo Direct first launched their token, the ACD, it was built on the Ethereum blockchain. However, in March 2019, it was instead integrated into the SLP ecosystem in collaboration with Bitcoin.com. The high transaction speed and low-cost transactions of SLP has made it possible for ACD to be accepted by more than 1,000 stores across Japan.

Just a few weeks later, Alliance Cargo Direct announced their first buy-back program in partnership with Bitcoin.com. During this time, for every dollar that customers spent in ACD or bitcoin cash in any of the affiliate retail stores, a certain percentage of that purchase would be used to buy-back tokens. This initiative is aimed at increasing liquidity as well as adding value to ACD.

On November 26, 2019, Alchemy Global Payment Solutions Limited, an international cryptocurrency payment provider that powers businesses with hybrid cryptocurrency and fiat payment solutions, partnered with ACD to enable its tokens at both online and offline merchant networks of ACD and QFPay in Japan and across Asia. Alchemy will provide their Hybrid Payment Solution to ACD e-commerce servicing platforms and retail merchants, enabling them to accept payments from customers paying with ACD tokens and other popular cryptocurrencies such as BCH, BTC, ETH as well as their digital wallet of choice like Rakuten Pay, Alipay and Wechat Pay. Alchemy’s hybrid crypto and fiat payment system has been deployed at over 2000 merchant sales points in Hong Kong and Singapore since July 2019.

Richard Heart’s HEX Token Now on Bitcoin.com Exchange

HEX is a smart-contract on Ethereum that pays out interest in HEX tokens to any user who is staking their token. It is promoted by crypto influencer Richard Heart who says he has identified several flaws in other blockchains and is aiming to correct those with the launch of the token.

The idea is based on rewarding token holders instead of miners as well as eliminating the need for a centralized party as anyone can simply send their token to the smart contract to earn interest on it in a trustless manner.

“HEX improves crypto by paying people to take possession of their Bitcoin private keys,” Richard Heart twitted over the weekend. “HEX starves scams of attention and referrers by using the same and better sales tactics they do.”

Bitcoin.com Exchange Lists More Tokens for Trading

Staking rewards vary depending on the supply of HEX that stakes. Estimates on the HEX official website show that if only 1% of the existing HEX supply engages in staking, investors could earn up to 369% in interest. In the case 10% of the total supply is staking, the interest would drop to 36.9%.

Unlike other tokens, HEX did not conduct a typical ICO but allows bitcoin holders to claim tokens for free. To claim HEX, anyone with bitcoin in their wallet can use the HEX claim tool to receive HEX for free. The earlier someone claims, the more HEX they can potentially be rewarded. Just keep in mind that, if you are thinking about claiming HEX with your bitcoin holdings and don’t want anyone to possibly be able to know your transaction history, it is always recommended to use privacy tools to obfuscate your transaction history before taking any action that can possibly lead back to you.

Anyone who doesn’t own bitcoin can buy HEX by sending ETH to the HEX smart contract, much like any other ICO. The platform is incentivizing early adopters by rewarding them a higher amount of HEX than people who join later. According to the project’s website every feature in HEX is “designed to increase … price and adoption. It’s a positive Feedback loop.” In summary, the final goal of HEX is to replace all existing banks and payments providers in the future.

Trading for HEX started on Bitcoin.com Exchange December 13, 2019. The platform was launched by Bitcoin.com following a re-branding to represent the vision of an inclusive crypto ecosystem, where anyone can gain economic freedom. The exchange, as an addition to the existing financial services, offers new as well as advanced traders a secure space to trade their cryptocurrencies since September this year. The platform employs institutional-grade encryption, two-factor authentication (2FA) and IP whitelisting to keep user accounts secure at all times. Available digital assets include: ADA, ATOM, BCH, BTC, EOS, ETC, ETH, LTC, ONT, TRX, USDT, WAVES, XLM and XRP.

What do you think about Bitcoin.com Exchange’s continued growth? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

The post Bitcoin.com Exchange Lists More Tokens for Trading appeared first on Bitcoin News.

Indian Lawmaker Says ‘Cryptocurrency Is Inevitable’

Indian Lawmaker Says 'Cryptocurrency Is Inevitable'

Indian Parliament member Dr. Subramanian Swamy has shared his view on cryptocurrency. Advocating for India to make the transition to crypto, he reportedly said, “cryptocurrency is inevitable.” The lawmaker will chair a conference at the UN India’s headquarters next week where issues surrounding cryptocurrency in the country will be discussed.

Also read: Regulatory Roundup – Bitcoin Futures Fund Approved, India’s RBI-Backed Digital Currency

‘Cryptocurrency Is Inevitable’

Indian Member of Parliament (MP) Dr. Subramanian Swamy has reportedly spoken about cryptocurrency following the statements made last week on digital currency by the governor of the Reserve Bank of India (RBI). The Bharatiya Janata Party (BJP) MP was nominated to Rajya Sabha, the upper house of India’s parliament, by the President of India. According to Sarkaritel news portal, Dr. Swamy supports cryptocurrency adoption. He was quoted on Wednesday as saying:

Cryptocurrency is inevitable.

Indian Lawmaker Says 'Cryptocurrency Is Inevitable'

Last week, RBI Governor Shaktikanta Das revealed that the central bank had examined internally the prospect of issuing an RBI-backed digital rupee. “I think it is an area where the Reserve Bank will certainly look at seriously at an appropriate time,” he confirmed. The RBI, however, has not warmed up to cryptocurrencies such as bitcoin. Its banking restriction, enforced on the Indian cryptocurrency industry in July last year, is still in effect. The supreme court is expected to resume hearing the arguments against this ban in January.

Crypto Conference at UN India

Dr. Swamy will chair a closed-door conference at UN India’s headquarters in New Delhi on Dec. 18. The event is co-organized by United Nations Technology Innovation Lab – UNTIL India and BEGIN India Think Tank. The aim of the conference is to deliberate on methods, technology and delivery mechanisms of digital currency that make nations, particularly law enforcement, “vulnerable in monitoring/ controlling/ stopping the invisible vaporization of fiat currency towards terror financing,” the UN’s website described.

“The scheduled conference on cryptocurrency organized by Mr. Deepak is most timely,” Dr. Swamy was quoted by the news outlet as saying. “China is today even ahead of U.S. in its decision to begin a trial run in two cities for digital transactions.” Deepak Kapoor is the founder of BEGIN India Think Tank. The MP elaborated:

I advocate that India as an established super power in software should accept to make the transition to cryptocurrency.

Indian Lawmaker Says 'Cryptocurrency Is Inevitable'

The conference will be attended by leaders from key Indian investigative agencies, law enforcement agencies, as well as state and central government IT departments. BEGIN India Think Tank focuses on addressing issues surrounding blockchain technology and cryptocurrency. The organization helps investigative agencies, law enforcement agencies, and banking institutions understand cryptocurrency and blockchain technology. Kapoor affirmed:

We are committed to addressing a range of issues around cryptocurrency, globally, starting in India.

“From its damaging negative aspects that contribute to undermining [the] dominance of central banks in a nation’s economy to the overwhelmingly positive aspects of how policy should be formulated around the most secure technology till date which was essentially built to decimate the control of governments and central banks,” he continued. “We must work to retain the safeguards.”

Indian Lawmaker Says 'Cryptocurrency Is Inevitable'

Among topics that will be discussed at the conference is how to fight crypto-related crimes. “For this purpose, such conferences are necessary in a democracy that India is, and move to digital, orderly and tamper-proof transaction just as in the past, the world had moved from barter to precious metals to paper currency for transaction,” Dr. Swamy detailed.

“The banking system is unable to track any financial transactions and law enforcement agencies are helplessly unable to deal with high-end cryptocurrency technology,” Kapoor remarked. “Investigators have not yet even understood how to ascertain/ calculate the total value of siphoned off funds, leave alone locating and seizing it,” he further asserted.

Despite various efforts by the Indian government and law enforcement agencies, BEGIN India’s founder claims that “not a single case of cryptocurrency has yet been successfully solved, nor a fraction of the money recovered so far.” He noted that “Alarmingly, with each passing day, larger amounts keep getting converted to cryptocurrency and vanishing into the thin-air invisible economy, thus weakening India’s economy and hurting its GDP.” Meanwhile, the Sardar Vallabhbhai Patel National Police Academy has introduced a few courses teaching high ranking police officers about cryptocurrency.

What do you think of Dr. Swamy’s view on cryptocurrency? Let us know in the comments section below.


Images courtesy of Shutterstock and Moneycontrol.


Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

The post Indian Lawmaker Says ‘Cryptocurrency Is Inevitable’ appeared first on Bitcoin News.

European AML Directive Pushes Crypto Startup Bottle Pay Out of Business

European AML Directive Pushes Crypto Startup Bottle Pay Out of Business

Bottle Pay, a cryptocurrency payments provider from the U.K., has announced its decision to cease operations by the end of the year. Despite attracting some serious funding and expanding its user base significantly in the past few months, the company has found it unacceptable to continue to work under the upcoming EU regulations. AMLD5, the latest update of the EU’s anti-money laundering policy, introduces stringent requirements for crypto businesses.

Also read: Almost 70 Crypto Funds Close This Year, Twice as Many Launch

Bottle Pay Shuts Down Because of New KYC Rules

As a custodial crypto wallet provider based in the United Kingdom, Bottle Pay will be obliged to comply with stricter regulations to be introduced with the Fifth Anti-Money Laundering Directive of the European Union. AMLD5 comes into effect January 2020 and has to be transposed into national law by all EU member states. It expands the coverage of the relevant legislation to include the crypto space imposing extensive KYC and AML practices.

“After having built a fantastic community around our service, and seeing huge growth in user numbers over the last few months,” the British company remarked in a blog post published on Friday, “it is with heavy hearts that we announce Bottle Pay will cease operating on Tuesday 31st December 2019 at 13:00 GMT,” the announcement details.

European AML Directive Pushes Crypto Startup Bottle Pay Out of Business

Bottle Pay shuts down after raising $2 million in seed funding this past September. The startup, which was launched in June, developed a tipping service that allowed users to send small amounts of cryptocurrency on social media networks and messengers through its browser extension for Chrome, Firefox and Brave.

A recipient’s social media account or a handle was all the sender needed to transfer the digital cash. Bottle Pay was available on multiple platforms including Telegram, Twitter, Instagram, Github, Discord, and Reddit. Money sent to users of these networks will now be returned to the sender within a week. Active users have to withdraw their funds by Dec. 31 and new subscriptions will not be accepted as signups and deposits went offline this week.

In the blog post, Bottle Pay further emphasizes that “the amount and type of extra personal information we would be required to collect from our users would alter the current user experience so radically, and so negatively, that we are not willing to force this onto our community.” The company wants to maintain its integrity as a service provider and protect the interests of its team, investors and users. “We have taken the painful decision to shut Bottle Pay down completely rather than become subject to these new regulations,” the startup concludes.

What’s Special About AMLD5

The European Union regularly updates its anti-money laundering and counter-terrorist financing framework. AMLD5 is its latest edition. The directive was adopted and published in 2018 and will come into force on Jan. 10, 2020. One of its key features is the expansion of its scope to encompass crypto activities within the EU.

AMLD5 addresses regulatory challenges related to high value goods, prepaid cards, high-risk countries, and politically exposed persons as well as the legal treatment of virtual currencies. It introduces a legal definition of cryptocurrency which has been described as “a digital representation of value that can be digitally transferred, stored or traded and is accepted as a medium of exchange.”

European AML Directive Pushes Crypto Startup Bottle Pay Out of Business

Providers of crypto-related services, such as exchanges and custodial wallets, are considered “obliged entities” and will have to comply with the union’s AML regulations in the future. That means abiding by the rules applicable to other financial institutions including the obligation to perform customer due diligence and submit suspicious activity reports. That also applies to investment firms, tax advisors, accountants, notaries, and lawyers who transfer or receive payments equivalent to €10,000 and more.

Crypto companies will have to register with the respective authorities in their jurisdictions such as Bafin in Germany or Britain’s FCA. What’s more, the financial intelligence units of member states have been authorized to obtain the private data of virtual currency owners and users, including their identities and addresses. The information will be kept in central registries and will allow the identification of both private individuals and corporate entities holding accounts with crypto platforms. Brussels’ main goal is to reduce anonymity associated with crypto transactions and use.

Do you expect more crypto businesses to close down due to AMLD5? Share your thoughts on the subject in the comments section below.


Images courtesy of Shutterstock.


Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

The post European AML Directive Pushes Crypto Startup Bottle Pay Out of Business appeared first on Bitcoin News.


Join our Bitcoin Insiders Email Group!
You will be the first to know about upcoming products and services. You will also be entered to win weekly giveaways!
We respect your privacy.