Europes Central Bank Discussing Cryptocurrencies
Europe's central bank has stated that it will be in its third youth Dialogue, in which they will discuss and answer questions about cryptocurrency, potential economic crashes, economy recovery and youth unemployment. People aged 16 to 35 will be able to ask question s at the event regarding these matters as it imperative that the youth of today are aware of the evolving economic ecosystem.
Mario Draghi will be answering the questions of the people via a series of videos on February 12th, and will try to inform them more about the topic. Hopefully the people involved will become more interested in the subject as a result and become encouraged to do their own research. It's essential that offer people the information that they want about cryptocurrency, and be transparent about it's potential and benefit instead of dismissing it.
However the European Government is becoming more aggressive in the attempt to constitute regulations upon cryptocurrency, and on of the issues they are focusing on is Anti Money Laundering regulations. The government will be discussing the regulatory action to be devised in countries at the G20 Summit, and will emphasize the need to control it's use and operation.
Anti money laundering using crypto is five times more common in European countries than America as discovered by F.D.D and Ellicit, Bitcoin analysis and forensic teams. They state that although overwhelmingly elicit action transpire in Europe, it only makes up for 1% of BTC transactions overall. Lets hope that the G20 Summit focus on the impact of their regulations upon illegal organizations and tax evading corporation's using crypto elicitly, and not individual investors of the public.
As a UK citizen I am not too worried as I do not believe that our government even has an understanding of cryptocurrency. In general in the UK people are highly uninformed on the matter as it is and our retraction from the EU will lead to us needing to find other means of accessing the global market. GBP doesn't currently cope well with this matter so I hope to see cryptocurrency adoption rise in the UK. This may not be the case though. Time will tell.
It's worrying to say the least hjbcrypto. Our country unlike the US and japan are lacking in developmental blockchain infrastructure, and with a actionless and uninformed government presiding its legislation will undoubtedly suffer economically as a result.
Ideally we will see special advisers brought on and not people from the financial sector. I would love to see our government be the first major one to fully accept the idea o crypto, alas, I think you are right that the outlook is not good.