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Crypto May Need Rules to Protect Consumers, EU Regulator Says
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Crypto May Need Rules to Protect Consumers, EU Regulator Says
The European Banking Authority recommended that the European Commission, the EU’s executive arm, carry out further analysis to determine the how to respond to a market that’s now valued at about $140 billion. The EBA made the comments in a report on the suitability of current EU rules to a raft of digital assets that includes blockchain currencies like Bitcoin, as well as tokens that provide access to a good or service. Having initially paid little attention to digital assets, the staggering rally in Bitcoin and many other tokens in 2017 and their subsequent fall to earth in 2018 have thrust digital assets into the crosshairs of regulators.
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