‘Bitcoin is a THREAT to Brussels’ Ex-MI5 intel agent SLAMS EU for cybercurrency crackdown

Saturday, December 23, 2017
By Paul Martin

A FORMER MI5 intelligence officer has ripped into the EU for trying to crack down on bitcoin after regulators agreed on rules to curb the currency’s anonymity.

Sat, Dec 23, 2017

EU regulators have agreed on new rules that would curb the financial anonymity integral to bitcoin and other cryptocurrencies.

Annie Machon, a former MI5 intelligence officer, is among those who have criticised Brussels for their crackdown on the most fundamental feature of the cryptocurrencies.

Mrs Machon attacked the EU for trying to construe bitcoin as a currency used only by “money launderers, terrorists, and paedophiles”.

She told RT that these proposals laid out this week were not surprising, given that bitcoin threatens the big banks and big businesses that hold influence in Brussels.

She said: “It is inevitable if we have something that decentralizes the money supply and threatens the business model of the banks, there’s going to be pushback against it.

“Any crackdown on our rights of privacy on the internet always has an excuse that it is trying to stop money laundering or trying to stop terrorism or pedophiles or whatever.

“The vast majority of users of bitcoin are doing it legitimately, they just have a legitimate concern to uphold their right to privacy as well.

“Criminals use bitcoin, but criminals already use banks. So many banks have been caught out money laundering on vast scales, particularly in the drug trade.

“Perhaps, we should say that the EU should close down our banks, too.”

European Union Justice Commissioner Vera Jourova praised the clampdown earlier this week: “Today’s agreement will bring more transparency to improve the prevention of money laundering and to cut off terrorist financing.”

She claimed that the measures will be part of a wider drive to tackle tax evasion.

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