Earlier this year the EU announced that it was introducing a legal framework around the use of cryptocurrencies.
The EU opens the door, but not all the way.
Earlier this year the EU announced that it was introducing a legal framework around the use of cryptocurrencies.
The EU opens the door, but not all the way.
EU are doing what America regulations are not capable of doing, I said it back then in my past post that this EU framework will make many crypto firms in America to consider moving their business to EU.
If there is a clear pathway for them to move and operate a legal business then the big firms will make that move.
Sure they will go for a place that the environment is suitable for
My latest politics post on #leofinance.
https://leofinance.io/posts/niallon11/eu-opens-door-for-cryptocurrencies
While this is welcome in one sense as to move forward as an industry we will need a proper set of rules and regulations to work with and they give some security to the projects operating in this area.
The mess the SEC is making of the crypto industry in America. With a proper legal framework this would not be allowed and we could see the industry start to gain traction instead of spending time fighting frivolous lawsuits from the SEC.
arliament endorsed the first EU rules to trace crypto-asset transfers, prevent money laundering, as well as common rules on supervision and customer protection. Ref: Europarliment
At least with these new rules in place a person looking to operate a business can see how to set up a legal operation with clarity around the release of tokens, transfers, disclosure of operations and tax liabilities.
It obvious every crypto Firms are looking for another crypto jurisdiction that give clear regulations on cryptocurrency.