03 December 2016

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

14 July 2014  |  5674 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  |  6178 views  |  1 comments | 5 tweets | 6 linkedin
European banks told to avoid bitcoin

European banks told to avoid bitcoin

04 July 2014  |  9737 views  |  0 comments | 26 tweets | 25 linkedin
Canada brings in bitcoin regulations

Canada brings in bitcoin regulations

24 June 2014  |  10781 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  |  5150 views  |  0 comments | 5 tweets | 4 linkedin
US govt to auction Silk Road bitcoins

US govt to auction Silk Road bitcoins

13 June 2014  |  4176 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  |  7836 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  |  8361 views  |  0 comments | 16 tweets | 7 linkedin
Circle bids to take bitcoin mainstream

Circle bids to take bitcoin mainstream

16 May 2014  |  7738 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  |  4688 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  |  5634 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  |  4373 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  |  4420 views  |  3 comments | 7 tweets | 7 linkedin
UK rejects VAT on bitcoin trades

UK rejects VAT on bitcoin trades

03 March 2014  |  4787 views  |  0 comments | 7 tweets | 6 linkedin

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comVisit contisgroup.comFind out more

Top topics

Most viewed Most shared
Royal Mint to issue digital goldRoyal Mint to issue digital gold
6245 views comments | 22 tweets | 21 linkedin
ING pulls plug on P2P payments app TwypING pulls plug on P2P payments app Twyp
5508 views comments | 16 tweets | 15 linkedin
R3 and Calypso to develop blockchain trade confirmation systemR3 and Calypso to develop blockchain trade...
5444 views comments | 13 tweets | 12 linkedin
UK challenger bank Masthaven opens for businessUK challenger bank Masthaven opens for bus...
5424 views comments | 15 tweets | 13 linkedin
EBA told that tougher authentication will have a "chilling" effect on single marketEBA told that tougher authentication will...
5413 views comments | 18 tweets | 20 linkedin

Featured job

to Six-Figure Base, Bonus, Benefits
London, UK

Find your next job