The EU approves the rules for crypto currency. This is discussed in the report of the European research organization Bruegel.
According to the media, the document says that it is necessary to introduce uniform rules for the crypto-currency market throughout the EU. The rules will affect the purchase and sale of currencies on exchanges, as well as ICO. If the rules are approved by the heads of state of the EU, this will help to avoid many problems related to money laundering, fraud and financing of terrorism, the document’s authors hope.
In the near future, EU representatives will discuss the rules in Vienna. Until now, the European Union has not yet managed to approve general laws that will regulate the crypto-currency market.
Recently European citizensare more and more interested in crypto currency: they buy it through exchanges or invest in blockchain projects. Hence, this market needs regulation.
Recall that the Council of the European Union adopted a directive on the crypto-currency sector. According to it, European legislation is waiting for changes, especially in that part, where it is a question of “the risks associated with virtual currencies”.
The directive says that it is necessary to close the flow of criminal financing without harm to legal financial systems. In the part relating to the crypto currency, it should lead to more stringent regulation. For this, the deputies of the European Parliament voted.
According to the amendments, providers of crypto-exchange services should apply the same requirements as banks in relation to “suspicious transactions”.
In general, the leadership of many countries is thinking about the regulation of the crypto currency, because it is becoming more popular with investors. And this means that in the near future the sector will become even more transparent and secure.