EBA: Financial Institutions Should Avoid Bitcoin, Await Regulation

EBA: Financial Institutions Should Avoid Bitcoin, Await Regulation

This article has been updated to include responses to the EBA by the Bitcoin Foundation and the UK Digital Currency Association. The European Banking Authority (EBA) has published an 'opinion' warning financial institutions to stay away from digital currencies until the industry is regulated. In the document, which was addressed to the EU council, European Commission and European Parliament, the EBA set out new requirements for the regulation of digital currencies and also instructed financial institutions not to buy, hold or sell digital currencies until new rules are in place. The EU....


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