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European Banking Authority Report Urges Steady Approach to Cryptocurrency Regulation

The European Banking Authority (EBA) has recommended further research into cryptocurrency and will perform “a number of actions” relating to the sector in 2019. The agency has said this in its latest report published Jan. 9.

In the document, which focuses on the “applicability and suitability of European Union law to crypto-assets,” the EBA appeared broadly unhurried about developing new regulatory frameworks for the bloc.

“Typically, crypto-asset activities do not constitute regulated services within the scope of EU banking, payments and electronic money law, and risks exist for consumers that are not addressed at the EU level,” a summary of the report reads.

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