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EU lawmakers to hold off regulating blockchain

Wednesday 27 April 2016 10:52 CET | News

The European Union has agreed to hold off for now from regulating blockchain, the technology that underpins Bitcoin.

The parliaments economic affairs committee backed his report on virtual currencies such as Bitcoin and blockchain, also known as distributed ledger technology.

Blockchains proponents say it will disrupt finance by slashing the cost of payment transactions and settling stock trades.

The task force should make recommendations for any necessary legislation though it should not be heavy-handed as blockchain can offer significant opportunities to consumers and economic growth, the report said.

Britains Financial Conduct Authority will allow testing of fintech innovations on consumers from May in a controlled environment before considering new rules.


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Keywords: Bitcoin, mining, cryptocurrency, digital currency, online payments, online security, online transactions
Categories: DeFi & Crypto & Web3
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Countries: World
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DeFi & Crypto & Web3






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