The European Union set up a special team, specializing in digital currency

The European Union set up a special team, specializing in digital currency

The legislature of the European Parliament set up a special team specializing in digital currency and block chain technology, and strengthen the monitoring of the money laundering and Terrorist Finance and other illegal behavior, which is to give the block chain and digital currency innovation to provide a good environment. Only to strengthen supervision, in order to better formulate relevant regulatory system, can meet the needs of the industry. It also shows that the European Parliament is also cautious development of digital currency and block chain technology, do not want to have any mistakes.

The European Parliament EU legislature through the establishment of a special team, dedicated to the study of digital currency and block chain technical proposal.

At the end of February, a member of the European Parliament (MEP) JakobvonWeizsacker in the drafting of the report for the first time began to spread.

The administrative departments of the European Commission to promote development block chain technology, will also strengthen monitoring. The report urged EU leaders to solve any money laundering and terrorist related financial risk.

After a few months, the European parliament held a series of concerns and bitcoin blockchain meeting, a April report by the law enforcement departments, lay the foundation for today’s vote.

The European Parliament voted the number 542-51, the proposal passed, 11 as a member of the European Parliament.

After the vote, VonWeizsacker said the main function of digital currency and the blockchain special group is, in the specific rules proposed before, should first “supervision” block chain technology development.


VonWeizsaker said in a statement:

“In order to avoid stifling innovation, we should advance the supervision rules and regulations, not in advance. But the development of IT innovation system will be very quickly. This is the reason why we set up a special team to actively monitor the development of the blockchain, and timely put forward specific regulatory policy proposals.”

The report will be sent from here to Brussels for reference, expect a special group will be established in the next few months. The main task of the special group in addition to research, also need to submit a digital currency and block chain technology act.

Recent evidence suggests that the European Commission wants to expand the EU bitcoin exchange regulation, special group proposal also reflects the policy direction.

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