Just read 'Crypto Assets Are Here to Stay,' Says EU Commission Vice President

'Crypto Assets Are Here to Stay,' Says EU Commission Vice President

The European Commission, the executive body that proposes legislation for the EU, will this year conclude a regulatory assessment for the governance of crypto assets, because they are "here to stay," a high-level has official said. Further, he suggested that initial coin offerings (ICOs) have the potential to become a viable form of alternative financing. To make the most of this potential, Dombrovskis said the challenge right now is how to "categorize and classify" crypto assets and whether the EU should use existing financial market rules or create a set of dedicated regulations for cryptocurrencies. "In this context, we are currently working together with European Supervisory Authorities on what we call regulatory mapping of crypto assets to answer exactly these questions," he said. Dombrovskis has previously made positive remarks on ICOs as an innovative fundraising method, as reported by CoinDesk in February.

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Wednesday, September 19, 2018