A bill was introduced in Texas which demands an identification of a person who sends or receives cryptocurrencies. However, the bill specifies that if a user has already been using a verified identity digital currency then there is no need to give any person’s verification to the government.
If approved, the bill will take effect September 1, 2019.
The community took the idea not very good.
Having mentioned the bill, Andrew Hinkes, the co-founder and general lawyer of Athena Blockchain, brought up some significant issues:
other questions: would any existing #cryptocurrency /#digitalcurrency qualify as a "Verified identity digital currency” as defined? What level of "id" is required to be "verified"?State issued? Are 4 state administrative bodies the right entities to "promote" a digital currency?
— Drew Hinkes (@propelforward) March 10, 2019
Texas is not the only example of cryptocurrencies confidentiality infringement. Recently in their report dedicated to usage of cryptocurrencies and blockchain technology the French National Assembly’s Finance Committee offered total ban on cryptocurrencies oriented on confidentiality such as Monero and Zcash.
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