Published
5 years ago on
August 30, 2018
“Finance Ministers in the European Union’s member states are taking a closer look at cryptocurrencies and the regulatory challenges they pose. They will be discussing whether or not regulations on the industry should be tightened and will be looking at issues including the lack of industry transparency, and the misuse of cryptocurrency for illicit purposes, like money laundering, tax evasion, and terrorism financing. European regulators notably view Initial Coin Offerings as a ‘efficient way to raise capital’ and are interested in looking at how cryptocurrencies can modernize current economic systems, meaning that the meeting will not be entirely negative.”Is this a good thing?I would say so. Unlike countries like China and India, the EU and its territories have remained very pro cryptocurrency, therefore we must assume that these regulations will be established to help foster and improve the industry. Talks within the EU surrounding cryptocurrency regulation will be designed to benefit the community. Many do believe that regulation is always a bad thing, but we have to see the bigger picture here, we have to see cryptocurrency as a part of an international future, for that to happen, regulation needs to be clear cut and established. Put it this way, as a fan of crypto, i’d rather the EU led the way for regulation over authorities within China, who have very recently made their stance in the anti-crypto camp very clear.ReferencesNewsBTC Investment Disclaimer
