[2016-04-26] NDTV: EU Lawmakers to Hold Off From Regulating Blockchain for Now

EU Lawmakers to Hold Off From Regulating Blockchain for Now

http://gadgets.ndtv.com/internet/news/eu-lawmakers-to-hold-off-from-regulating-blockchain-for-now-830317

The European Union should hold off for now from regulating blockchain, the technology that underpins the virtual currency Bitcoin, EU lawmakers are set to agree on Tuesday in the latest example of a softly-softly approach by authorities.

"We don't want pre-emptive regulation, but we do want precautionary monitoring," Jakob von Weizsaecker, a German centre-left member of the European Parliament, told Reuters.

He was speaking ahead of a vote on Tuesday in the parliament's economic affairs committee on his report on virtual currencies and blockchain, also known as distributed ledger technology.