We Can Not Control You If We Don't Know Who You Are!

In June the European Commission will propose new legislation to effectively end the possibility of anonymous payment, by forcing users of virtual currencies like Bitcoin, and of prepaid credit cards, to provide identity details.

 Additionally the EC intends to propose monitoring inter-bank transfers within Europe, a measure which had not been implemented with the launch of the EU-US Terrorist Financing Tracking Programme (TFTP). 

Though the proposed measures are intended to heap new pressure on the financing of terrorism, a report from Interpol last week concluded that terrorist funding methods have not changed substantially in recent years, stating 'Despite third party reporting suggesting the use of anonymous currencies like Bitcoin by terrorists to finance their activities, this has not been confirmed by law enforcement.'