Political Body Has No Plans To Interact With Bitcoin Says EU Finance Commissioner

Many members of the European Union have been talking about the prevalence of the decentralized money Bitcoin, and also the EU’s political figure currently added digital currencies to its anti-money laundering statutes. On the other hand, the EU Finance commissioner for monetary affairs, Pierre Moscovici, explained in a recent interview that at this point politicians don’t have any plans to “respond” to the Bitcoin phenomenon. Europe Adds Virtual Currency to existing legislation, However, the Financial Commissioner declares that the Political Body has no current plans to legalize Bitcoin. Bitcoin is trending Globally, and Authorities and Bureaucrats from different nations are discussing the topic quite heavily. Political bodies in the U.S., Asia, and EU are speaking about the numerous Ways they could modulate the crypto-currency by clamping down Bitcoin Companies and exchanges. Politicians in the EU especially have been Concerned with terrorism funding, money laundering, and tax evasion which they believe could be tied into crypto-currencies. European legislators adding virtual currencies in the fourth anti-money laundering directive which essentially considers currencies such as Bitcoin as a financial tool. EU Commissioner stated that We Do Not think We Need to React to Bitcoin at This Stage.rnIn an interview about the broadcast Bloomberg Surveillance with Francine Lacqua, the Eu finance commissioner, Pierre Moscovici, asked clearly about Bitcoin and legalizing the digital asset.rnLacqua inquires the EU’s financial affairs commissioner that if they are looking Bitcoin at all and are they intending to take any actions to legalize it?rnMoscovici responds that “WE DO NOT CONSIDER BITCOIN AS AN OPTIONAL CURRENCY, NOT LIKE THE EURO. WE SEE THAT THERE IS QUITE A LOT OF SPECULATION ABOUT THAT BITCOIN. SOMETIMES SPECULATION IS EXUBERANT. WE CONSIDER THIS AND EXAMINED THE PHENOMENON, BUT WE DO NOT BELIEVE WE NEED TO RESPOND TO BITCOIN AT THIS POINT AS A TECHNICAL AND POLITICAL BODY.” “Regulatory Conversations for Bitcoin are not happening at this point of time” The most recent definitions added to the EU’s Fourth Anti-Money Laundering Directive includes digital currencies and prepaid debit cards that’s not substantially different than the laws being hammered across several nations in the U.S. Source: http://www.unkrypted.com/no-plans-to-interact-with-bitcoin-eu-finance-commissioner/