Cryptocurrencies
Europe Is Hedging Its Bets on Crypto
- European Commission plans to hold roundtable, issue report
- Commission to look at licensing requirements, mull guidance
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The European Union is hedging its bets on financial technologies such as cryptocurrencies and initial coin offerings that some see as leaving the door open to fraud, money laundering and the like.
As part of plans to regulate FinTech, the European Commission intends to “assess the applicability” of the EU’s regulatory framework to cryptocurrencies and ICOs, according to a document seen by Bloomberg. The commission, the bloc’s executive arm, also will organize a roundtable in the second quarter to discuss “challenges and opportunities” that it will report on later in the year, according to the document.