Is EU Holding Grip Over Crypto Regulations Too Tight, Affecting Bitcoin Price?

Is EU Holding Grip Over Crypto Regulations Too Tight Affecting Bitcoin Price?

Finance Ministers in the European Union’s member states are taking a closer look at cryptocurrencies and the regulatory challenges they pose. They will be discussing whether or not regulations on the industry should be tightened and will be looking at issues including the lack of industry transparency, and the misuse of cryptocurrency for illicit purposes, like money laundering, tax evasion, and terrorism financing.

The meeting will be taking place in Vienna on September 7th, according to a draft note obtained by Bloomberg. According to the document, European regulators notably view Initial Coin Offerings as an “efficient way to raise capital” and are interested in looking at how cryptocurrencies can modernize current economic systems, meaning that the meeting will not be entirely negative.

The meeting comes as global regulators are taking a closer look at the cryptocurrency industry and how to best regulate the relatively young markets. It is unclear whether any harsh stances will be taken that affect the cryptocurrency markets.

Source: News BTC

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