The European Union And Cryptocurrency: Here To Stay

Although increasingly unstable, interest in cryptocurrency continues to persist in Europe undaunted.

Valdis Dombrovskis, vice president of the European Commission, spoke on the topic of cryptocurrencies during a recent Ecofin (Economic and financial affairs) council meeting, admitting that after debate on the topic, EU finance ministers have come to accept that cryptocurrency "is here to stay".

Given this acceptance of cryptocurrency as a viable commodity, regulation of the currency is being attempted. However, the application of existing laws may not be appropriate for cryptocurrency, as regulations utilized on familiar commodities may be insufficient when applied to digital assets.