RATE Group | European Parliament: Cryptocurrency Could Replace Fiat Currency
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European Parliament: Cryptocurrency Could Replace Fiat Currency

28 Jul European Parliament: Cryptocurrency Could Replace Fiat Currency

Posted at 08:42h in Cryptocurrency News by

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European Parliament: Cryptocurrency Could Replace Fiat Currency

An in-depth analysis of the fintech sector by the European Parliament Committee on Economic and Monetary Affairs revealed a highly nuanced EU Parliament position on cryptocurrencies, with the committee stating the possibility for crypto to function as an alternative to fiat currency in a variety of different applications.

The July 2018 report, entitled “Competition Issues in the Area of Financial Technology (FinTech),” expands upon concepts explored in the EY policy Department for Economic, Scientific, and Quality and Life Policies report on the future challenges presented by cryptocurrencies.

While the previous report focuses on potential issues presented by the future of cryptocurrencies, the latest investigation published by the EU parliament is focused primarily on the conflicts and competition catalyzed by the rapid innovation of the fintech sector.

EU Parliament Expands Cryptocurrency Horizons as Adoption Accelerates

While the core goal of the new ECON investigation is to…

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