In the world of digitalization, the global audience, is concerned about the future of digital currency and how controls have to be imposed on the illegalities, that it has brought along with the economic significance. Next week, a series of discussions will be made by experts and analysts on the need, for introducing new kinds of cryptocurrency regulations.
On Friday, European commission Vice President, Valdis Dombrovskis, stated that the meeting would have eminent personalities from central banks and market supervisors. “The market players”, as stated by Valdis, will be invited to enlighten on the given objectives. However, he has skipped mentioning, who they actually are.
A well-informed and studied round table discussion on the prospects of cryptocurrency, is what EU Commission is looking forward to. The insights of experts from different fields of cryptocurrencies shall be able to say whether the present regulations are satisfactory or whether there’s any need to establish some more. “The aim is to look at long-term trends linked to virtual currencies and examine if current regulations is fit for purpose “, said Valdis.
The event is to be held on a short notice given that other European nations such as France and Germany, have also called for more such discussions.
The potential need for an expansion of insight and development of regulations has to be deduced in the given meetings. There lies a strong possibility of cryptocurrencies’ subjection to more strict regulations as a number of warnings has already been laid on, by the European Securities and Market Authority, the European Banking Authority and the European Insurance and Occupational Pensions Authority.
He has also enlightened the Berlin audience that no threat has been imposed to Latvia’s creditworthiness regarding whether bribe has been accepted by Central Bank Chief, as per allegations.
The European union shall surely look into the issue and investigate the matter to the core until final verdicts arrive.