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A task force to control digital currency in Europe

bitcoin regulation

A task force to control digital currency in Europe

<img src="/images/kibongo.jpg" alt="Task force to control Digital currency" height="264" width="350" />
Last month we talked about how the European Parliament defined the blockchain as the “perfect technology” and aimed at realizing new rules related to the distributed ledger.
During a speech given by the Lithuanian representative Antanas Guoga, in fact, he defined the blockchain that way.
His speech was held before the Internal Market for Consumer Protection Committee, that advanced a new proposal for cryptocurrencies. 

Task force creation: yes or not?

A voting on the proposal was held on April 26th and the result was 542-to-51 members who want the creation of a cryptocurrency task force.
So, now the task force will turn into reality and will “monitor technology developments ahead of any concrete regulatory proposals”.
Von Weizsäcker said in a statement:

“To avoid stifling innovation, we favour precautionary monitoring rather than pre-emptive regulation. But IT innovations can spread very rapidly and become systemic. That’s why we call on the Commission to establish a taskforce to actively monitor how the technology evolves and to make timely proposals for specific regulation if, and when, the need arises.”
It is likely that the creation of this task force will be done in the next few months.

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Amelia Tomasicchio
Amelia Tomasicchio

Amelia Tomasicchio is a content writer and marketer of Bitcoin-related news and fintech startups. She started writing about Bitcoin in 2014 and she graduated in Rome with an essay about movie industry related to Bitcoin.

2 thoughts on “A task force to control digital currency in Europe

Blockchain Regulation in Europe: everything you need to know – HolyTransaction's BlogPosted on  1:06 pm - Feb 16, 2017

[…] year, the European Parliament also created a new task force led by the Commission, to study the […]

Europe Bitcoin report published by the EU Parliament. Read it here. – HolyTransaction's BlogPosted on  6:09 pm - Feb 21, 2017

[…] The research suggests a few possible approaches for the European lawmakers, who recently approved the creation for a new task force focused on blockchain and digital currencies. […]

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