A report drafted by European Parliament member (MEP) Jakob von Weizsäcker first began circulating in late February 2016. It called for measured exploration of the technology by the European Commission, the executive branch of the EU, but stopped short of recommending more than closer monitoring. The report also urged EU leaders to address any risks related to money laundering and terrorism financing.
In the months since, the EU Parliament has held a number of events focused on Bitcoin and blockchain. Versions of the report moved through the legislature in April 2016. The EU Parliament voted 542-51 to pass the proposal, with 11 MEPs abstaining.
From here, the report will be sent to the Commission for consideration, and presumably the formation of the task force will follow in the months ahead. In addition to its research mandate, the task force will likely propose a legislative for digital currencies and blockchain tech.
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