Bitcoin owners to lose their anonymity

The Association of Banks of Russia has suggested that the identity of all cryptocurrency owners should be revealed. The organization has developed a concept that will identify Bitcoin owners.

When preparing the concept, experts analyzed 50 legal cases related to cryptocurrencies, Kommersant daily writes. The experts believe that the owners of crypto assets should bear civil liability so that it would be possible to successfully introduce cryptocurrencies into the Russian economy. Hiding one’s digital assets will be a criminal offense. This measure is expected to protect transactions involving virtual assets and prevent all risks related to anonymity. Experts also believe that it will counteract digital asset fraud.

According to the representatives of the association, it is the anonymity of players that makes cryptocurrency transactions “marginalized.” In particular, Bitcoin is often used for illegal transactions.

Previous ArticleNext Article