Proposed changes to European law could force companies that transfer bitcoin or other crypto-assets to collect information about the recipient and the sender.

The legal changes aim to make transactions more easily traceable, the European Commission said, and thus block money laundering or terrorist financing.

The new rules do not allow the use of anonymous crypto asset portfolios. However proposals can take up to two years before they become law.

The Commission requires that transfers in crypto-assets be subject to the same anti-money laundering laws as money transfers. While some crypto-asset providers are covered by anti-money laundering rules, the new proposals will make these rules apply to the entire crypto-asset sector.

Under the new proposals a company is obliged to receive information from customers such as name, address, date of birth, account number and name of the recipient.

Experts say that we are dealing only with the application of old laws on crypto-assets. / PCWorld Albanian