The EU may impose new rules for cryptocurrency

The EU may impose new rules for cryptocurrency

In the coming months, can be developed new rules regarding cryptocurrencies and assets based on the blockchain.

This statement was made by the representative of the European Union after completion of the round table on this topic.

Vice-President of the European Commission Valdis Dombrovskis suggested that the management unit may begin to perform additional oversight of this area, although this depends on “facts and circumstances around a particular crypto-tokens”. The European Commission will continue its work in this area.

Based on the assessment of risks and opportunities and the suitability of the existing regulatory framework for these instruments, the Commission will determine whether regulation at the EU level.

What is striking is the fact that Dombrovskis, in General, praised the ICO projects, although he admitted the existence of certain risks to those who invest in the blockchain projects through tokens.

ICO is an innovative method of funding that has allowed many start-up companies to attract significant amounts of funding. But in this scheme there are certain risks and problems, such as lack of transparency in the identity of the issuers and the underlying business plans.

The Vice President noted that the EU, the volumes of the cryptocurrency trade is relatively low. Europe needs to work with other G20 countries to eliminate possible risks.

In a sense, he echoed the opinion of officials from France and Germany, which stated that the cryptocurrency could “pose a considerable risk for investors” and who initiated discussion of this issue at the upcoming G20 summit.

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