EU acts on money laundering concerns

The European Union is considering a database of Bitcoin owners in Europe under laws designed to fight money laundering and terrorism, writes James Titcomb.

As part of a crackdown on virtual currencies, MEPS will consider setting up a central hub of people who use the online exchanges where Bitcoin is bought and sold.

The proposal follows fears that Bitcoin is being used to dodge taxes.

It was contained within updates to money laundering regulations agreed on Friday that require the online exchanges to abide by strict customer identity obligations.