Stricter Crypto Regulations Brewing in EU

A number of EU regulators are expected to meet in Vienna (Austria) on Sept. 7 in order to take a closer look at digital assets in the wake of their growing popularity. They will reportedly focus on tighter regulations for cryptocurrencies in order to prevent tax evasion, money laundering and other types of illicit activities that involve cryptocurrencies.

Remarkably enough, a draft note, which has been prepared for the upcoming meeting, reveals that European lawmakers generally have a positive attitude towards ICOs, describing them as an ‘effective’ means of fundraising in sharp contrast to the earlier ESMA warning that describes coin offerings as ‘highly risky’ activities.