The United States is trying to get to grips with bitcoin addresses. The Ministry of Finance issued a list of banned addresses, which are involved in the global drug trade. The newest people on the list are the Chinese drug lords. The Us government doesn’t allow any financial and contact those of interest.
In a conversation with Hisashi Oki, from CoinTelegraph explains to Jesse Spiro of Chainanalysis what he thinks of the current measures in place. Spiro is a company dedicated to the analysis of the bitcoin blockchain.
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Is there any danger for bitcoin?
Spiro: ”The block of addresses, it undermines the value of bitcoin is not it.” The bitcoin addresses are not blocked, and there is still BTC, but that will come. However, this is now a punishable offence in the usa.
Spiro: ”Where are you from cryptobeurs, however, sends money to an address that is on the list, it is likely that they will block your account.”
This is logical, because the exchange is responsible for the transfer. This type of action will only be active outside of the network itself.
With Chainanalysis try Spiro grants to help with the data. It is very difficult to detect and to keep track of which addresses are associated. The companies and organisations that are not able to, or want to look for knock, and then in the Duct to it.
What kind of effect does this have on the price?
Spiro: ”In theory, it can be good for the price, a lot of the addresses that have been blocked. That bitcoin is moving then it is not and will be out of the market. However, it can also have a negative impact on the public image of bitcoin.”
In practice, it means that America has ways to try to be a part of the bitcointransacties to regulate. Not the network itself, that is, it is not possible, but in other ways, too.
A detailed analysis, and one or two of the faults of the criminals, addresses and so on the list is to be placed.
The future
Spiro: ”There will be more addresses to be added to the list, and it is up to the industry to stick to match. The ecosystem will have opportunities to make contact with these addresses is to be avoided.”
This is only the beginning. It’s going to be (probably) the bitcoin addresses of serious offenders, who are generally not that easy to catch.
But for the regular consumer, all in a variety of data sources. In the places where bitcoin is bought in the Netherlands, one needs to meet certain requirements. That is, it is likely only to be stricter.
The Financial Action Task Force (FATF) is a global, countries are advised to rules for more control over the buying and selling of BTC. If these rules are adopted, other parties also have lists of the bitcoin addresses that can be linked to a specific person.
The main advantage of bitcoin compared to the traditional banking system, it is, of course, in the open. Anyone can do it, and everything is easily accessible. Wanted criminals, modelburgers, and everything in-between. It’s a question of how and whether the authorities, there is some traction in this area.
For the people on a black list, of course, is always to just start again with a new address. However, the pipelining of the BAC is going to be difficult. So that they might “infect” you immediately of your new address.
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