European Union to Discuss New Rules for Cryptocurrency Sector

The Finance Ministers of 28 European countries on September 7 will meet in Vienna to discuss new rules for the locally emerging cryptocurrency sector.

The informal gathering, according to the EU’s draft note, will witness a broad discussion about current policy issues relevant to financial and economic affairs.

Bloomberg, which claims to have read the meeting agenda in person, reports that the EU ministers will echo their concerns over “a host of challenges” posed by the popularity of cryptocurrencies like Bitcoin. They include crypto’s potential of being used by online criminals for drug trafficking, tax evasion, terrorist financing and money laundering, and also its underlying pseudo-anonymity.

What’s Driving the New Crypto-Regulation in Europe?

To add new measures on the top of old ones merely mean one thing: the old laws are unable to outrun the latest technologies.

People using cryptocurrency generally have a choice whether they want to be regulated or not….