It seems that the European Union decided to go soft on digital currencies.
Reuters says:
EU says to monitor, not regulate 'hyped' virtual currencies"The European Union will monitor rather than regulate "hyped" virtual currencies for now, because too little is known to justify new rules beyond reining in specific risks like money-laundering, the body's executive said on Monday.
The world's 600 virtual currencies are tiny, with bitcoin alone accounting for 90 percent of the $7 billion sector, compared with daily turnover of about $5 trillion on global foreign exchange markets.
Virtual currencies are traded online and not backed by a central bank. The collapse of bitcoin exchange Mt. Gox two years ago raised concerns about consumer protection in a largely self-regulated, experimental sector."
i just think this is good news and bad news too
if consumer protection in a largely self-regulated applicated,i am worry about small trader who ask protection from goverment,that they lost or scammed by exchange,and it just losing $1 or $2
If I had to chose between Bitcoin being regulated or Bitcoin being banned, I would definitely go for a little regulation.
There is a fine line between
fair regulation and over regulation. I think the BitLicence in the USA were a bad move on their part and they killing the little guys. The licences are so
expensive, most innovators cannot enter the field without help. Great ideas and Killer Bitcoin applications might just die a silent death, because
people could not afford the licences. Europe just have to keep away from following the same path and making the same mistakes.
