European Union Authority Talks Blockchain Tech…and Banning It

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The European Securities and Markets Authority (ESMA) will shortly have a energy to anathema blockchain or distributed bill record (DLT), come Jan 1, 2018.

Speaking during a London discussion called “Blockchain Technology: The Future for Financial Services”, final week, comparison ‘risk analysis’ officer Patrick Armstrong spoke [PDF] about a hurdles and opportunities with blockchain technology. Armstrong is a partial of a Innovation and Products group during ESMA, a Paris-based EU financial regulatory management that establishes legislation and law for European financial markets.

The blockchain-specific discussion saw Armstrong exhibit how a ESMA came to know about a technology.

He stated:

ESMA began examining a subject in early 2013 as a practical banking famous as ‘bitcoin’ became a widely-known choice remuneration service. ESMA afterwards began examining a grade to that there existed investment products that used practical currencies as an underlying asset.

While these investment products were “marginal” then, over time, a ESMA combined that a marketplace shifted from a concentration on practical currencies, like bitcoin, to a underlying technology, in blockchain.

Soon enough, a ESMA was concerned in the

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