November 23rd According to a report by the China-Greek Times, at present, Bitcoin (a digital currency) ATMs are scattered in Greece. People can use this machine to deposit cash at any time and transfer digital currency into their special digital wallets. The same operation is also applicable to withdrawing from digital wallets. Cash, there is no supervision throughout the whole process. There are certain security loopholes in the circulation of this currency, which has attracted the attention of the Greek government.
According to the report, Bitcoin runs parallel with the conventional currency system as a virtual currency, and no institution can regulate the source or whereabouts of funds. This is an issue known to the international community last week. Recently, the Greek authorities have noticed that there is a “black hole” in this virtual currency, and the funds exchanged may be transferred to the black hole by illegal means.
In Greece, the competence to supervise and form a regulatory framework is vested on the Capital Markets Commission, rather than being controlled by central banks like other countries. Therefore, many people think that digital cryptocurrencies such as Bitcoin are marketable securities assets, not currencies. Internationally, there are even yachts that use Bitcoin to pay for sale anonymously.
According to the report, there are many such terminal service outlets in bookstores, corner stores, small supermarkets and other places in Athens and other Greek cities, and people are paying more and more attention to the operation and use of this gray market.
Natasha Sturm, vice president of the Greek Capital Market Commission, said: “The characteristics of anonymity and rapid trading are easier to hide capital movements, unregulated and free from the credit system, which have led to the transfer and storage capacity of cryptocurrencies, and the illegal activities related to this are endless. The law was discovered and resolved in a timely and effective manner.” She also pointed out that more than 100 enterprises in Greece have accepted cryptocurrency payment methods.
According to the Intergovernmental Financial Action Task Force (FATF), illegal activities related to cryptocurrencies include trafficking and sales of drugs and other prohibited goods, such as weapons. At the same time, it is suspected of fraud, extortion, tax evasion, cyberattacks, population trading and unlicensed financial services, etc., while cryptocurrencies are often used for illegal fund-raising and evasion of financial sanctions.