On September 7th, Finance Ministers from the European Union’s 28 member states will be meeting in Vienna to once again discuss the possibility of international regulations on cryptocurrency. The meeting is scheduled in the wake of a pledge made by the European Commission, the EU’s executive arm, to monitor developments in the digital money market.
Bloomberg News reports that the EU will be discussing challenges posed by the growing popularity of digital assets and whether rules should be tightened. The meeting comes as a response to growing criticism from governing bodies throughout the continent who argue that the lack of EU regulation is putting investors in danger.
EU Interested in ICOs
Despite obvious concerns for crypto investors raised by the possibility of tightening crypto regulations, Bloomberg also provides promising reports that regulators in Europe have begun to take a positive interest in initial coin offerings (ICOs). Bloomberg claims to have acquired an undated document from the EU noting that ICO’s “have established an effective and efficient way to raise capital.” The unknown author asserts that this development could “also help integrate capital markets in the bloc.”
Meanwhile in Asia, China has continued to crackdown on all things crypto, recently shutting down social media accounts of crypto news organizations in the region. Bloomberg reports that in Japan, officials are currently implementing a new cryptocurrency exchange-licensing regime. All of this while South Korea, the Philippines and Thailand are quietly loosening regulations to attract more crypto start-ups.
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