European Crypto European Crypto Industry steps up efforts influence EU Policy

The Crypto Industry and decentralised blockchains are now becoming a primary source of finance for
today’s world. Since their arrival, the industry has been on a boom. From Bitcoins to Ethereum to
non-fungible tokens to stablecoins, there is no denying that this world of blockchains and
decentralised finances have acquired the attention of a lot of people.

But anything that is too good to be true comes with drawbacks. Since there is no central authority
which governs or overlook these blockchains, they can very easily be used for illicit transactions like
money laundering or transactions related to any kind of activities which cannot be showed on books.
With many online frauds regarding Digital Assets being on the rise, and crypto transactions being
used freely for illicit activities, many governments and authorities are now concerned.


European union are one of those authorities which are trying to implement sets of rules and trying
to tame the rapidly growing decentralised blockchain finances. Britain and united states are also the
authorities who want to have their control and supervision on this huge free running industry.


Also Read: Dubai-based Café accepts includes cryptocurrency as payment option 


Reuters has also published about a letter which was sent to 27 finance ministers of European union
which was sent by crypto businesses. The letter was for the policymakers, asking them to make
regulations which does not exceed those already set by Financial Action Task Force (FATF) for money


There was also a request to exclude decentralised projects to register as legal entities followed by
the ask of not subjecting stablecoins under MiCA regulations. The letter was organised by the CEO of
CoinShares Jean-Marie Mognetti and chief security officer of DeFi Technologies, Diana Biggs, along
with many others. Mogneti shared his views upon how Europe has the most complex crypto
regulations than others which hampers the growth of the industry. Biggs also put forward her wish
to increase the influence of European crypto industry in Brussels. "There hasn't been strong enough
or coordinated efforts across our industry in Europe,"


Also Read: India’s Proposed Crypto Tax Rules Likely to Become Law Thursday


There was also a voting among European union on having new sets of rules to regulate the
cryptocurrencies. the new set of rules stated that crypto firms are obliged to keep the information of
the parties involved in the currency transactions.


The whole point of these decentralised currencies was privacy of their users. The letter which was
sent by more than 46 European crypto industry leaders clearly stated their disagreement about
those new rules and implementations. These rules will reduce the safety and privacy of users and
will put them at risk because of public disclosure.


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But in today’s world where human interaction has been reduced to minimal and every piece of work
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sometimes they are as simple as being unable to understand a simple feature or they can also be
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To ensure that the customers have their best experience and smooth transaction, Coinbase Offers
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If users can’t find the solution to their respective problems, Coinbase crypto exchange also has call
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coinbase offers 24/7 support. Coinbase Crypto Exchange has call support, you can contact their toll free helpline +1 820 900 2633. If you do not prefer call support, then Coinbase Crypto Exchange also provides an email address so users can also mail their issue.


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