Some members of the European Union have been discussing the recognition of the decentralized currency bitcoin, and the EU’s political physique not too long ago added “digital currencies” to its anti-money laundering statutes. However, the EU commissioner for monetary affairs, Pierre Moscovici, explains in a latest interview that at this stage politicians haven’t any plans to “react” simply but to the bitcoin phenomenon.
The EU Adds Digital Currency Definitions to Existing Legislation, But the Financial Commissioner Says the Political Body Has No Current Plans to Regulate Bitcoin
Bitcoin is trending worldwide, and regulators and bureaucrats from particular person nations are discussing the topic fairly closely. Political our bodies from the U.S., Asia, and EU have been speaking concerning the some ways they’ll regulate the cryptocurrency by clamping down on bitcoin companies and exchanges. Politicians from the EU notably have been involved with terrorism financing, cash laundering, and tax evasion that they consider will be tied to cryptocurrencies. News.Bitscoins.web not too long ago reported on European legislators including digital currencies to the Fourth Anti-Money Laundering Directive which mainly considers currencies like bitcoin to be a “monetary instrument.”
Although spectators consider the EU is “cracking down” on cryptocurrencies the European Union commissioner, Pierre Moscovici says the political physique has no plans to regulate them in the intervening time.
EU Commissioner: “We Don’t Think We Have to React to Bitcoin at This Stage”
In an interview on the printed ‘Bloomberg Surveillance,’ with Francine Lacqua, the EU’s monetary commissioner, Pierre Moscovici, is explicitly requested about bitcoin and regulating the digital asset.
“Commissioner are you looking at bitcoin at all and does the is the EU planning to take any action to regulate it?” Lacqua asks the EU’s monetary affairs commissioner.
“At this stage, we do not consider bitcoin as an alternative currency, not like the euro — We see that there is quite a lot of speculation about that [bitcoin],” Moscovici responds.
Sometimes hypothesis is overactive or exuberant — We take a look at that and analyzed the phenomenon, however we don’t suppose we’ve got to react to bitcoin at this stage as a political and technical physique.
Regulatory Conversations for Bitcoin Are Not Happening Right Now
The newest definitions added to the EU’s Fourth Anti-Money Laundering Directive embrace digital currencies and pay as you go debit playing cards which isn’t a lot completely different than the laws being drafted throughout many states within the U.S. So Lacqua asks the EU commissioner if politicians and regulators from the area are even “talking about regulating bitcoin.” Moscovici particulars to the host that regulatory discussions will not be so prevalent proper now.
“No we are not having those conversations right now,” Moscovici emphasizes.
What do you consider the EU monetary commissioner’s statements? Let us know what you suppose within the comments below.
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