During the EU ‘Ecofin’ informal ministerial meeting, held in Vienna on 7-8 September, the EU economic and financial affairs ministers discussed current policy issues relevant to economic and financial affairs. Among other things, ministers considered opportunities and the risks involved, and also a possible regulation of cryptocurrencies. EU finance ministers analysed the impact of action recommended by a report issued by Brussels-based think tank Bruegel, named: ‘The economic potential and risks of crypto assets: is a regulatory framework needed?’
After the meeting regulators involved in the meeting pointed out that EU will not rush with the implementation of the cryptocurrencies regulation. German Finance Minister Olaf Scholz pointed out that meeting was a place to inform the regulators and to “put (regulators) in a position in which they’re able to act” [link]
The digital currencies story is a continuation of the long-running saga of economics, markets, and commodity exchange in human society. With the constant rise of the global network, we have witnessed many global services becoming widely accepted and in a way changing (by adding to) our experience of mutual interaction.