EU Regulators to Accept CryptoCurrency Starting March 1st

Euro Coin.jpeg

A group of European Union regulators will meet next week to discuss the regulation of cryptocurrencies.

Speaking to reporters on Tuesday, European Commission vice president Valdis Dombrovskis said that the meeting would involve representatives from central banks as well as the bloc's market supervisors. Though unnamed, Dombrovskis said that "market players" would also be invited to speak.

He said at the presser:

"Next week, on [Feb. 26] I will chair a high level roundtable on virtual currencies. The Commission has invited key authorities, including central banks and supervisors, as well as market players to share their insights."

"The aim is to look at long-term trends linked to virtual currencies, and examine if current regulation is fit for purpose," he added.

The timing of the event is a notable one, given that some European leaders - including France and Germany in particular - have called for more discussions around the topic. Monday's "roundtable" also comes on the heels of discussions among U.S. lawmakers and regulators about the potential need for expanded oversight of the market (though other officials have said that any move in that direction won't happen anytime soon).

It's possible that at least some of those at the round-table will skew toward a harsher stance on regulation, as perhaps evidenced by the warning issued earlier this month by three market watchdogs - the European Securities and Markets Authority (ESMA), the European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority (EIOPA) - that was aimed at investors in cryptocurrencies. Whether representatives from those specific agencies will be in attendance is not known at this time.

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