Belgian think tank calls for a unified legislation on cryptocurrencies. There should be implemented rules and regulations on the cryptocurrency distribution among the investors, as well.
The report has been released by the Brussels based think tank Bruegel and it comes ahead of the meeting of economic and financial affairs ministers on cryptocurrency investments and taxation of the entire crypto-system and economy. The mentioned meeting should take place in Austria, in the period from the 7th till the 8th of September.
The report urges and accentuates the importance of the regulation implementation on the EU level about the regulation of cryptocurrencies and ICOs and all matters connected with them. This should be done to manage the crypto-associated risks and advance the blockchain technology implementation.
Bruegel as well notes that the pure virtual nature of cryptocurrencies as well as the absence of proper regulation limits the cryptocurrency application and hence, hinders its potential development to its full extend. Moreover, it could lead to a possible ban of cryptocurrency, like it has happened already in China. Some specialists believe, that similar measures might be taken in some other Asian countries, as well.