The European Union is trying to regulate the cryptocurrency industry, as do countries and jurisdictions around the world.
More than 40 crypto companies asked not to implement the crypto money regulations proposed by the European Union (EU).
Cryptocurrency companies sent a mail to 27 EU finance ministers on April 13, asking them not to go beyond the cryptocurrencies rules currently in place under the Financial Action Task Force (FATF).
“EU’s Crypto Assets Regulatory Rules Tougher Than Other Countries”
Mail, CoinShares president Jean-Marie Mognetti and DeFi Technologies’ CSO water edited by Diana Biggs.
Mognetti told Reuters that the EU’s rules for regulating digital assets are more difficult than in other countries, which has hindered the expansion of crypto businesses in Europe.
The European Union, following other jurisdictions in the world, continues to work towards bringing serious regulations for the rapidly growing and expanding crypto money sector recently.
In March, European Union lawmakers voted to introduce new rules for Bitcoin and other digital currency transactions. If these rules are implemented, crypto exchanges and other companies in this space will be able to collect information about the personal data of participants in crypto transactions.
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