Europe, Where database of bitcoin users is growing.Because, Bitcoin is reliable, secure, sustainable and futuristic digital cryptocurrency.
Last few years, bitcoin price and blockchain process are accepted by lot’s of country in this session. But the best results and target country where most of the user coming form being European countries.
That’s why, at the end of anonymity for bitcoin users, few big foundation and banks are approaching towards the EU (European Union) has to put proposal for maintaining the database of bitcoin or a simple and strong structure to find out the flow of currency.
So, The European Commission (EC) wants to maintain the bitcoin users database. EU has given the proposal for this and try to maintain, regulation for anonymity form bitcoin and other virtual or digital currencies with the hope of good.
Bitcoin and other digital currency is a cryptocurrency and it can be operate Worldwide and their is no record of users identification when they are sending money via online. Because of blockchain technology, this system working on digital numbers based functionally.
But when we are talking about current bank system then every banks are following the rules and regulation to monitor and find out the source of income and outcome. In case of bitcoin this is not possible frequently.
So, that’s why EU has given proposal that would require all users of the digital currency or cryptocurrency to register using their real world identity and to provide the address of the virtual wallets contacting their funds.
This proposal is expected to be voted into the European parliament before the end of 2016.
If, this will happened then this is first time where digital currency records have be recorded by government system.