Bitcoin and Ethereum take a hit after EU proposes anti-terror cryptocurrency regs

Yesterday, the EU Commission announced that it was putting forward proposals for stricter regulations on cryptocurrencies to combat money laundering and terrorist financing. The plans are set to affect how both transactions, and the anonymous storage of cryptocurrencies is dealt with. On the day of the announcement, popular cryptocurrencies, such as Bitcoin and Ethereum, took a brief pricing hit.

The proposal for the new legislation involves a bid to give governments across the EU greater ordinance over cryptocurrency, meaning transactions involving currencies such as Bitcoin, Ethereum, and Ripple will soon be fully traceable.