European Parliament Advises Lawmakers to Not Ban or Ignore Cryptocurrencies

On Monday, the European Parliament published a report in which MPs should avoid banning or ignoring cryptococcurses.

This document was written by the Center for Social and Economic Research by Marek Dabrowski and Lukasz Janikovsky. This document was provided by the Policy Department at the request of the Committee on Economic and Monetary Affairs.

Defining virtual currencies (VCs), the paper said, "The European Banking Authority (EBA) defines a VC as the digital representation of the value, which is neither issued by the central bank or public authority nor does it One is connected to the Fiat (traditional) currency, but it is accepted by natural or legal persons as the means of exchange and it is elect. Can be transferred, stored or traded tonically. "

However, the paper said that the VC does not have any internal value in the sense that they are not connected to any underlying object or sampradhu currency. In this regard, they are no different from most contemporary sovereign expressions.

It has been said that there are economists who consider virtual currencies as "the invention of quack and crank", a new method of monetary utopia or instrument for money laundering is wrong. "

The report, which is a 33-page document, also talks about crytoocrins such as bitocaine, etherium and ripple.

Highlighting the advantages and disadvantages, the report said, "Policy makers and regulators should not ignore the VC, nor should they try to ban them." The two extreme approaches are wrong. Should be considered as a financial instrument, proportionally to the importance, complexity and related risks of their market. To their global, inter-border character Ekte the right rules should be taxed the same is recommended to rationalize. VC investments in other financial assets in the region. "

Although the report sometimes plays the devil's advocate, but it definitely weighs the pros and cons of virtual currencies and says, "It is likely to last with us for some time."