‘EU-Level Action Needed’ for Cryptocurrency, Says European Banking Authority30

The European Banking Authority (EBA) is calling for standardized regulations for cryptocurrency operations within the EU. Europe’s banking watchdog believes such a move will eliminate unfair regulatory arbitrage while protecting investors across the bloc.

The EBA conveyed its clamor for a regional framework for cryptocurrency regulations in a report published on Wednesday, January 9, 2019. According to the banking regulator, such an approach would eliminate many of the risks inherent in the emerging asset class.

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