European Commission Roundtable: Blockchain Holds Promise.

[jemarleon]

I just read this news and caught my attention.

European Commission Roundtable: Blockchain ‘Holds Promise,’ Investors Must Know Risks

The European Commission has hosted a roundtable titled “Cryptocurrencies - Opportunities and Risks,” covering the influence of crypto on financial markets and problems arising with Initial Coin Offerings (ICO) Monday, Feb. 26.

The roundtable was chaired by Valdis Dombrovskis, the Commission’s Vice-President in charge of Financial Stability, Financial Services and the Capital Markets Union.

The Commission’s press release described the event as a place for European Union organizations, countries, central banks, academics, and entrepreneurs to “respond to the challenges posed by so-called cryptocurrencies (virtual currencies) and their underlying Blockchain technology.”

The conference was broken up into three themes: crypto and financial markets, investor protection and market integrity, and ICOs.

After the roundtable concluded, Dombrovskis told the press that since Europe has such a small share of crypto trading, which he referred to as a “global phenomenon,” the next step is a discussion of the same topics at the G20 level, echoing the opinions of French and European Central Bank’s officials.

He told one journalist that he would also not exclude the possibility of moving ahead on regulation at an EU level, pending future events in the crypto world.

He added that “Blockchain technology holds strong promise for financial markets,” and that steps must be made to not hinder technological innovation.

Dombrovskis repeated the EU regulators’ previous stance on the risks involved in investing and trading in crypto at the end of his roundtable press debrief, saying that “warnings about those risks to consumers, to investors, must be clear, frequent, and across all jurisdictions.”

Last Friday, Austria’s Finance Minister Hartwig Löger spoke about his idea for basing crypto regulations on those already in place for gold and derivatives, as well as possible pan-European Union crypto regulations on this basis.

A fintech action plan is expected to be presented by the European Commission in early March.

HERES THE LINK:
https://cointelegraph.com/news/european-commission-roundtable-blockchain-holds-promise-investors-must-know-risks

[wandino]

Good post. European countries are getting more involved with cryptocurrency and blockchain technology as blockchain technology holds strong promise for financial markets.

[Phoenixpple]

I am very excited to read this news. Europe has been an active center for block chain technology. The three issues mentioned in the round table of the European Commission are the most important issues to be solved at this stage. I think that in the EU's continuous standardization of the bitcoin, many applications of the word currency will be in Europe.

[kive2k]

It is very good that the crypto currency is interested every year more and conduct such conferences. Such small steps of the crypto currency will reach the world recognition faster.

[kaya11]

All different kinds of investments have their own flaws and risk of fall. One should know that it can happen anytime, not all investments could go well as much as you want. Now if investors of crypto currencies dont know this, they will leave the crypto community with hatred towards it if they don't succeed.