EU should adopt common cryptocurrency rules, according to report for ministers

posted 17 days ago
A Belgium-based think tank is arguing that the EU should create a single standard for cryptocurrency rules in a report sent to finance ministers within the economic block. Bruegel, based in Brussels, the Belgian capitol, believes that the EU needs "common rules" on cryptocurrencies, as well as how tokens are distributed and traded. It's report comes in advance of an "informal meeting of economic and financial affairs ministers" later this week. The report is not yet publicly available.

The report says the EU should enforce common regulations on crypto exchanges and initial coin offerings (ICOs) as well. That being said, the report notes that Bitcoin's decentralized nature makes regulating the cryptocurrency itself "impossible." As such, it emphasized that any regulations would have to apply to exchanges or other related companies. It also referenced China's crackdown on cryptominers, noting that mining farms can be banned as well.
Tags: opinion, bitcoin, news