RATE Group | Banks Could Engage in Competitive Misconduct to Keep Users From Bitcoin: EU Report
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Banks Could Engage in Competitive Misconduct to Keep Users From Bitcoin: EU Report

22 Jul Banks Could Engage in Competitive Misconduct to Keep Users From Bitcoin: EU Report

Posted at 14:19h in Bitcoin News by

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bitFlyer Europe

A report has been published on the current fintech market at the request of the ECON Committee. It analyses competition issues in the sector and cryptocurrencies were featured in it.

The European Parliament Committee on Economic and Monetary Affairs, also known as ECON, is a committee overseeing the decisions made by the European Central Bank (ECB). At its request, the Police Department for Economic, Scientific, and Quality of Life Policies published a document analyzing the major competition issues the financial technology (fintech) area faces, including challenges in banking, forex, insurance, wealth management, personal finance, and cryptocurrencies.

The Cryptocurrencies Value Chain is Made of 5 Core Pillars

The document defines what it calls ‘the value chain of cryptocurrencies’, which comprises several areas from the cryptocurrency industry — blockchain, mining, wallets and exchanges, smart contracts, and banks and credit card processors.

It carefully defines each…

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