If the motion gets accepted by the heads of state and the governments of the member countries, the listed currencies will be managed by the EU Anti-Money Laundering Directive.

According to the German media outlet heise.de, the platforms that "deal with cryptocurrencies or exchange them into traditional currencies" will need to store both the identity and the address of the user electronic wallets in a central database.

The measures by the EU Council are intended to prevent abuse caused by the anonymity of electronic currencies. Bitcoin is widely used on the internet. However, it is also a mainstream cryptocurrency commonly used for making illegal deals on the dark web. There is no clear evidence that terrorists are using electronic currencies for financing their activities, but the European Council seeks to prevent this from happening.

The motion also seeks to impose new restrictions on prepaid cards too.