SWIFT: Bitcoin Regulation in the EU Won't Happen Soon

SWIFT: Bitcoin Regulation in the EU Won't Happen Soon

The European Union (EU) is years away from implementing a consistent framework for cryptocurrency regulation, according to a new report by the SWIFT Institute. The report notes the lack of convincing arguments to include virtual currencies under the EU's current legal frameworks, set by the revised Directive on Payment Services (PSD2) and the fourth European anti-money laundering directive (AMLD4). The PSD2, adopted in the EU in October this year, consists of a new set of consumer payment protection rules, which seek to promote the development and use of innovative online and mobile....


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Quotes

Someday consumers and businesses won’t hold bitcoins for their account but will unknowingly access the bitcoin network whenever payments are made.

Paul Vigna, The Age of Cryptocurrency