RATE Group | EU should adopt common cryptocurrency rules, report for ministers says
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EU should adopt common cryptocurrency rules, report for ministers says

05 Sep EU should adopt common cryptocurrency rules, report for ministers says

Posted at 13:48h in Cryptocurrency News by

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BRUSSELS (Reuters) – The European Union should adopt common rules on cryptocurrencies and scrutinise how new digital units are distributed to investors and subsequently traded, according to a report prepared for EU finance ministers.

FILE PHOTO: A message on a vendor’s booth is seen on display at the Consensus 2018 blockchain technology conference in New York City, New York, U.S., May 16, 2018. REUTERS/Mike Segar/File Photo

In the report, the Brussels-based think tank Bruegel argues for EU-level regulation of crypto exchanges and clearer rules on “Initial Coin Offerings” (ICOs) to control risks and exploit the potential of the industry and its underlying Blockchain technology.

The document, seen by Reuters, is due to be presented to the ministers who are meeting on Friday and Saturday in Vienna.

So far EU authorities have avoided comprehensive regulation because of the sector’s relatively small size and the low percentage of trade in bitcoin, the most popular cryptocurrency,…

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