Italy to ban anonymous digital currencies

Lawmakers filled a bill that could ban the anonymous digital currencies in the European country.

Italy.- Stefano Quintarelli, a member of the Italian Parlament, said that they proposed a bill to fully ban anonymous cryptocurrencies. The digital currency has been a recurrent subject in Italy, and with the launching of Zcash, which promises strong focus on anonymity, the country is concerned that it’s gonna influence the market.

Even though it doesn’t have a specific regulation, Bitcoin is currently allowed in Italy. Whilst the new digital currency hasn’t even been released to the public, Italy believes that Zcash could become a strong contender for established altcoins. “In 14 MPs we proposed a bill in Italy to ban fully anonymous cryptocurrencies,” said Quintarelli.

Back in September, the local taxation office introduced a proposal for bitcoin taxation, but it was focused on companies that deal with Bitcoin and similar cryptocurrencies. On the other hand, UKGC made amendments on the UK’s gambling regulation to allow the use of bitcoin whilst gambling on online licensed platforms.

Earlier this year, the European Commission, the executive arm of the European Union proposed a directive that has been designed to help prevent the use of the digital currencies to finance criminal activities and terrorism. The plan would create a central database holding records of the identities and wallet addresses for users of all cryto-currencies including Bitcoin.

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