European Parliament Commission rejects the idea of ​​creating a fund for victims of cryptocurrency scammers

The European Parliament Commission rejected the proposal of British lawyer Jonathan Levy (Jonathan Levy) On the creation of a compensation fund for people, victims of cryptocurrency fraud.

To finance this initiative, Levy proposed introducing "Almost imperceptible" tax in the amount 0.0001 euro, which should be taxed, in the European Union. The funds received should go to create a fund for people, have become victims of cryptocurrency crimes. Despite, that there is a small number of nodes in the European Union, Levy claims, that if such measures begin to be introduced in other countries, then this task will be implemented on a wide scale.

"General regulations for data protection (GDPR) European Union is a good example of that, as the initiatives of the European Union become global. Any person, working with digital currencies and incurred losses due to the actions of cryptocurrency scammers, should be able to receive help regardless of their citizenship ", - said Levy.

However, the European Parliament Commission rejected this proposal, referring to the current laws, aimed at protecting the victims of violent crimes, thefts and fraud. Last month it also became known, that the European Union will submit a bill on the application of current regulatory provisions to cryptoactives, To clarify the regulation of the cryptocurrency industry.

The commission stated, that this bill will be an addition to the fifth directive of the European Union to Combat money laundering (AMLD5). Emitters of cryptocurrencies will have to comply with additional requirements, aimed at increasing transparency, which will help reduce fraud risks. At the same time, the implementation of operating requirements for suppliers of cryptocurrency services will also be necessary to prevent hacker attacks.

The commission explained, that fraud, Hacks and extortion occur not only in the cryptocurrency sphere. Therefore, investors and ordinary users must require compensation through law enforcement agencies or competent legal entities. Moreover, this should be carried out regardless of that, whether traditional assets or cryptocurrencies concerned against them.. Besides, The commission is not authorized to create funds to pay compensation to victims of financial crimes.

Recall, that according to the analytical company Ciphertrace, in the first five months 2020 year, the total amount of stolen crypto acts has reached $1.36 billion in connection with the spread of fraudulent schemes.