Decentralized P2P Exchange Bitsquare Ups Trading Limits; Adds Support for Augur, GameCredits and 26 Additional Cryptocurrencies

Decentralized P2P-style digital currency exchange has added support for 28 new virtual coins in the latest update to the platform. Some of the new additions include prediction marketplace tokens of the Augur platform (REP); online gaming virtual currency GameCredits; Burstcoin, an digital token mined via hard disk.

The new release also lifts trade limits for alternative currencies and other online payment methods:
“Increase trade limits for Altcoins to 3 BTC, OKPay, Swish and AliPay to 2 BTC, ClearXChange, Cash deposit and US postal money order to 1 BTC.”
Additionally, two new payments methods were added; USD funding through Chase QuickPay; Canadian dollar transfers via Interac e-Transfer. Bitsquare is currently the only decentralized exchange that allows anonymous trading of digital currencies for fiat money through TOR nodes. There is no KYC/AML checks on users and everyone is free to trade as they please.

Volume and order book depth on Bitsquare is minuscule compared to what you may find on established, regulated exchanges like Bitstamp, Gemini and Coinbase. But that may change soon as the European Commission has already proposed a central database of digital currency users, according to the latest draft of the 4th Anti-money Laundering Directive (4AMLD).

In a recently published legal opinion document, the ECB suggested that Financial Intelligence Units should have the ability to match digital currency addresses to real-world identities:
"To combat the risks related to the anonymity, national Financial Intelligence Units (FIUs) should be able to associate virtual currency addresses to the identity of the owner of virtual currencies. In addition, the possibility to allow users to self-declare to designated authorities on a voluntary basis should be further assessed."
This type of intrusive regulatory approach may set the stage for anonymous trading venues to gain traction.