In recent weeks, I outlined the bad idea of government involvement in cryptocurrency. The EU, like any government (think US here…) has vested interest in knowing our every transaction. They hate cash, but know it has to exist until they wrest control from us. The EU is actively working on traceability requirements for transfers of all crytpocurrencies. It’s placed under the idea of stopping criminal acts, but then again, so many other laws have been passed for similar reasons.

Draft EU legislation aims to trace crypto transactions in the same way as traditional money transfers. The industry is not pleased.