24 July 2016
Find out more

French to boost bitcoin transparency; Finns to broadcast bitcoin data through TV network

14 July 2014  |  5513 views  |  1 Bitcoin

The French government has moved to limit the anonymity of bitcoin users through rules that require 'distributors' of the virtual currency to verify the identity of account holders.

The new regulation, set out by the country's finance ministry in response to a report by its Tracfin money laundering unit, will come into effect at the end of the year.

The ministry has also changed its tax rules, following in the footsteps of the UK and US by making profits on bitcoin sales subject to capital gains taxes.

Separately, Finnish software house Koodilehto and quasi-national cryptocurrency FIMKrypto have teamed up to broadcast bitcoin transactions through national TV broadcast networks in real time.

A two month pilot will begin in September, enabling Finns to receive real time P2P network data for bitcoin and FIMKrypto transactions through any digital TV and custom software without the need of Internet or mobile network connection.

The partners say that the technology will be portable to other countries, making bitcoin less dependent on the public Internet and more resistant to attacks.

Comments: (1)

A Finextra member
A Finextra member | 14 July, 2014, 11:11

This is a great move by the French Government, who are obviously taking virtual currencies seriously. Ensuring users and investors can be properly verified  will bring virtual currencies in line with latest measures to protect us all against financial  crime. But even more importantly, it will allow the industry to present itself as a credible alternative to traditional payment methods

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Former Credit Suisse banker becomes Coinfloor chairman

Former Credit Suisse banker becomes Coinfloor chairman

11 July 2014  |  5942 views  |  1 comments | 5 tweets | 6 linkedin
European banks told to avoid bitcoin

European banks told to avoid bitcoin

04 July 2014  |  9431 views  |  0 comments | 26 tweets | 25 linkedin
Canada brings in bitcoin regulations

Canada brings in bitcoin regulations

24 June 2014  |  10487 views  |  2 comments | 19 tweets | 20 linkedin
Ditch legal tender to unleash bitcoin - think tank

Ditch legal tender to unleash bitcoin - think tank

18 June 2014  |  4949 views  |  0 comments | 5 tweets | 4 linkedin
US govt to auction Silk Road bitcoins

US govt to auction Silk Road bitcoins

13 June 2014  |  3937 views  |  0 comments | 2 tweets | 2 linkedin
Bitcoin to have 'profound' impact on trust-based markets - Wedbush analysts

Bitcoin to have 'profound' impact on trust-based markets - Wedbush analysts

30 May 2014  |  7645 views  |  0 comments | 10 tweets | 6 linkedin
Bitcoin not a threat to banking system...yet

Bitcoin not a threat to banking system...yet

20 May 2014  |  8123 views  |  0 comments | 16 tweets | 7 linkedin
Circle bids to take bitcoin mainstream

Circle bids to take bitcoin mainstream

16 May 2014  |  7510 views  |  3 comments | 6 tweets | 3 linkedin
US exchange rows back on commitment to help regulate bitcoin trading platform

US exchange rows back on commitment to help regulate bitcoin trading platform

24 April 2014  |  4472 views  |  0 comments | 2 tweets | 1 linkedin
Brits wary of crypto-currency; Nakomoto outed?; bitcoin goes to pot

Brits wary of crypto-currency; Nakomoto outed?; bitcoin goes to pot

17 April 2014  |  5486 views  |  0 comments | 8 tweets | 2 linkedin
US tax man says bitcoin is property, not currency

US tax man says bitcoin is property, not currency

26 March 2014  |  4236 views  |  0 comments | 4 linkedin
Mt. Gox finds 200,000 bitcoins in old wallet

Mt. Gox finds 200,000 bitcoins in old wallet

21 March 2014  |  4282 views  |  3 comments | 7 tweets | 7 linkedin
UK rejects VAT on bitcoin trades

UK rejects VAT on bitcoin trades

03 March 2014  |  4571 views  |  0 comments | 7 tweets | 6 linkedin

Related blogs

Create a blog about this story (membership required)
Find out moreVisit capgemini.comVisit www.abe-eba.eu

Top topics

Most viewed Most shared
MasterCard agrees £700m VocaLink acquisitionMasterCard agrees £700m VocaLink acqu...
8022 views 14 comments | 32 tweets | 36 linkedin
hands typing furiouslyWhat Every FinTech CEO Should Know About R...
7821 views 0 | 14 tweets | 8 linkedin
hands typing furiouslyBanking on IoT: Security in the Internet o...
7680 views 3 | 19 tweets | 7 linkedin
Santander doubles down on fintech fundSantander doubles down on fintech fund
7573 views comments | 22 tweets | 28 linkedin
Brexit-scarred London fintech startups enquire about moving to BerlinBrexit-scarred London fintech startups enq...
7472 views comments | 16 tweets | 16 linkedin

Featured job


Brussels (Belgium) or Paris (France)

Find your next job