FILE PHOTO: A coin representing the bitcoin cryptocurrency is seen on computer circuit boards in this illustration picture, October 26, 2017. REUTERS/Dado Ruvic/File Photo
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European Union states and legislators agreed Friday on stricter rules to prevent money laundering and terrorism financing on exchange platforms for bitcoin and other virtual currencies, the EU said in a statement.EU legislators also backed stricter controls on pre-paid cards, and raised transparency requirements for the owners of trusts and companies.The talks dragged on because some EU states opposed increased transparency on trusts and companies, fearing a negative impact on their economies.The increased public scrutiny is considered essential by the EU commission and also by rights groups, to prevent financial crimes and tax evasion.
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