- EU regulators are tightening down on encryption on privacy coins and apps such as WhatsApp and Signal.
- A draft proposal was published on November the 6th and was reported by Austrian Radio FM4.
- The EU Council of Ministers suggests end-to-end encryption removal on apps.
EU regulators target encryption on privacy coins and apps
EU regulators are tightening down on encryption on privacy coins and apps such as WhatsApp and Signal. A draft proposal was published on November the 6th and was reported by Austrian Radio FM4.
The EU Council of Ministers suggests end-to-end encryption removal on apps. The council of Ministers is a non-legitimate body of the EU that consists of ministers from EU countries.
What the EU regulators aim to do is prevent criminal activity within apps and the growing crypto industry. If the regulations pass, then there would be a significant impact on privacy.
The draft emphasizes the need to review electronic evidence to prevent crime while maintaining the preservation of human rights.
Recently, privacy coins have also come under scrutiny. Europol launched a cybercrime report in October 2020, which highlighted decentralized markets and privacy coins as a significant threat.
Many Governments have to tackle how to regulate cryptocurrency. Governments usually target privacy coins because they can cover up transactions.
Popular privacy coins are Monero and Zcash.
The US has given out grants with $1.25 million so that firms can uncover Monero’s privacy protocol. The World wants to clamp down on encryption-related crimes once and for all.
The EU is not the only one looking to prevent encryption from being responsible for crimes. The G20 and many other organizations are counting on international collaboration to ensure a clampdown of criminal activity.
What makes the mission of regulation technology complicated is the fact that there are no rules in how one should monitor multiplex technology.