EU Finance Commissioner: The Political Body Has No Plans to React to Bitcoin – Some members of the European Union have been discussing the popularity of the decentralized currency bitcoin, and the EU’s political body recently added “digital currencies” to its anti-money laundering statutes.
However, the EU commissioner for financial affairs, Pierre Moscovici, explains in a recent interview that at this stage politicians have no plans to “react” just yet to the bitcoin phenomenon.
The EU Adds Digital Currency Definitions to Existing Legislation, But the Financial Commissioner Says the Political Body Has No Current Plans to Regulate Bitcoin.
Bitcoin is trending worldwide, and regulators and bureaucrats from individual countries are discussing the subject quite heavily. Political bodies from the U.S., Asia, and EU have been talking about the many ways they can regulate the cryptocurrency by clamping down on bitcoin businesses and exchanges.
“At this stage, we do not consider bitcoin as an alternative currency, not like the euro — We see that there is quite a lot of speculation about that [bitcoin],” Moscovici responds.
Regulatory Conversations for Bitcoin Are Not Happening Right Now The latest definitions added to the EU’s Fourth Anti-Money Laundering Directive include digital currencies and prepaid debit cards which is not much different than the legislation being drafted across many states in the U.S.
So Lacqua asks the EU commissioner if politicians and regulators from the region are even “talking about regulating bitcoin.”
Moscovici details to the host that regulatory discussions are not so prevalent right now. “No we are not having those conversations right now,” Moscovici emphasizes.