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Aleksey Muratov: Cryptocurrency users are ready to get away from anonymity

Last Saturday, March 11, in two cities of the Indian state of Maharashtra open seminars of activists of the International Public Movement Change the World Together were held.

In Kudal city the main speaker was Sunil Pawal and in Ahmednagar city - Shantaram Waykar.

Kudal, open seminar, speaker Sunil Pawar

As Chairman of the Board of CWT Movement Aleksey Muratov stated, the seminars discussed the issue of the possibility of cryptocurrency users coming out from the shadow. "Already now, cryptocurrency users in India are ready to connect their wallets to personal data, thereby identifying themselves. However, it is necessary for this that the state make the needed amendments to the legislation so that it is possible to monitor the electronic currency market on the part of regulator," he noted.

Ahmednagar, open seminar, speaker Shantaram Waykar

According to Aleksey Muratov, this practice is being gradually applied in other countries and particularly in Europe. "So, on March 9, the Committee of the European Parliament on Economic and Monetary Affairs published a new bill on the regulation of digital currencies which involves collecting data about users. The document reflects the opinion of the European Parliament that virtual currencies "should not be anonymous". The bill also creates the basis for creating databases in which addresses of wallets will be associated with certain identifiers of the person," Chairman of the Board of CWT said.

Ahmednagar, open seminar, speaker Shantaram Waykar

Ahmednagar, open seminar, speaker Shantaram Waykar

"The bill states that in order to combat the risks associated with anonymity, national financial intelligence units should be able to link virtual currency addresses with the identifier of cryptocurrency user. An opportunity for users to provide the necessary data to authorized bodies independently and on a voluntary basis should be also created," Aleksey Muratov told.

Ahmednagar, open seminar, speaker Shantaram Waykar

He noted that after the adoption this law will allow to create conditions for the exchange of received information between national authority of financial intelligence. "By the way, earlier in the EU the amendments to the directive on combating money laundering, giving operators of virtual currencies the same obligations as other financial services have already been adopted," Aleksey Muratov reminded.

Kudal, open seminar, speaker Sunil Pawar

It is noteworthy that representatives of the People's Bank of China started talking about the need to make similar amendments in the legislation, whose heavy-handed actions at the beginning of this year had a negative impact on the cryptocurrency market in this country. "Director of the People's Bank Zhou Xiodong said that new regulatory directives will appear in the near future and the Chinese government will continue to encourage innovations related to the blockchain but will not support the use of this technology to create speculation," Aleksey Muratov said.

Kudal, open seminar, speaker Sunil Pawar

Kudal, open seminar, speaker Sunil Pawar

 The new directives will also deal with the activities of cryptocurrency exchange in the country. "According to Zhou Xiudong, platforms for trading of Bitcoin will be called exchanges only after the company receives the relevant permission of the securities department. In the long term, they should be included in the platform management system for trading in exchange commodities under the supervision of the local financial department and adhere to the basic regulatory requirements. Their activities will be observed by the local branches of the People's Bank of China, departments for regulation of the securities market and insurance, tax and other agencies," Сhairman of the Board of Change the World Together Movement stated.

Kudal, open seminar, speaker Sunil Pawar

Source: CWT News

  • March 15, 2017 8:15 PM MSK
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