In her speech, Financial Innovation: towards a balanced regulatory response, Ross said that institutional interested in shifting away from cryptocurrencies:
“As time passed, ESMA became aware that market participant’s focus was largely shifting from virtual currencies as such to the underlying technology.”
ESMA has been watching the digital currency space since 2013, and in their view, the underlying technology of virtual currencies can cause a significant disturbance to the current infrastructure supporting the financial system.
“However, there was a clear consensus that the underlying core distributed ledger technology had many potential uses across the lifecycle of the investment chain and could have significant effects on the status quo.”
http://themerkle.com/eu-regulator-says-focus-shifting-away-from-bitcoin-to-blockchain/
