EU to create database of Bitcoin owners

The proposal aimed to fight money laundering and financing of terrorism
19 December 2017   1215

Members of the European Parliament will consider setting up a central hub of bitcoin owners in Europe who use the online exchanges where bitcoin is bought and sold to fight money laundering and financing of terrorism.

Before this legislation you didn’t have to know who your customers are, it was fantastic for money laundering. We are normalising Bitcoin and other virtual currencies.

 

Judith Sargentini

Member of the European Parliament

The proposal was contained within updates to money laundering regulations agreed on Friday that require the online exchanges to abide by strict customer identity requirements, and to report suspicious activity to the authorities.

It is stated that the EU may set up a "central database registering users' identities and wallet addresses". The database will be considered in a 2019 review of the effectiveness of the new money laundering rules. It would be accessible to financial crime fighters such as the National Crime Agency, as well as asset recovery officers.

Recently, we have reported that Kuwait’s Ministry of Finance said that it does not recognize bitcoin and forbids its trading in the Kuwaiti financial institutions.

Lightning Desktop App to be Launched in BTC Mainnet

The application, which is based on the lightweight Neutrino client, is available for the macOS, Windows and Linux, however, it's oriented fro test environment
24 April 2019   120

Lightning Labs, a leading developer of solutions for the Lightning Network, announced the launch of its desktop wallet in the main Bitcoin network. An application that was previously tested in a test network is available in the alpha version.

The application, which is based on the lightweight Neutrino client, is available for the operating systems macOS, Windows and Linux, however, as the developers emphasize, is still oriented primarily to the test environment. At the same time, more advanced users can also experiment with the wallet interface and get access to their funds.

Lightning App Desktop Version Screenshot
Lightning App Desktop Version Screenshot

The Neutrino client allows non-custodial Lightning wallets to verify Bitcoin transactions without the need to synchronize with the full version of the blockchain.

The new release includes such a function as displaying a single balance, which will allow users to see the cumulative number of coins both in the network base and in the payment channels by percentage.