European Parliament proposes putting cryptocurrencies and blockchain technology on the fast track

Europe has been moving very fast in terms of cryptocurrency and blockchain recently. The European Parliament's Economic and Monetary Affairs Committee plans to vote on a report on virtual currencies in the coming days before legislating on cryptocurrency and blockchain.

In February this year, the European Parliament classified virtual currencies as a rapidly developing area and will become an important issue for all major institutions in terms of electronic currency.

Now a new independent non-profit trade body has been established in Brussels, the European Forum on Digital Currency and Blockchain Technology (EDCAB), which will provide comprehensive virtual currency regulation expertise.

Policy Makers Expo

EDCAB, a public policy platform for digital currencies and distributed ledger technologies, is co-hosting a flagship industry expo for European Parliament policymakers from April 18 to 21.

The event includes three roundtables moderated by EDCAB founder Siân Jones and will feature European Parliament policymakers, as well as representatives from the International Monetary Fund, World Bank, United Nations, OECD, BIS, Barclays, Nasdaq, blockchain companies and Circle, all of whom will be heading to the European Parliament to discuss virtual currencies. The expo will be a sign of the times.

The European Parliament is preparing its own report on virtual currencies, which will be voted on by the Economic and Monetary Affairs Committee on April 25.

The European Parliament has been considering regulating virtual currencies to combat terrorism financing through its action plan and proposals, with legislation expected to be ready by the end of June.

The newly established EDCAB aims to work with EU policymakers, legislators, regulators and law enforcement agencies to shape a good regulatory and policy agenda for virtual currencies in Europe.

Founder Siân Jones said:

“Collaboration and open debate based on a deep understanding of technology are essential for a strong and comprehensive policy and regulatory framework. The establishment of EDCAB signals the industry’s commitment to work with policymakers to create positive outcomes for institutions and European citizens in the long term.”

The forum creates a safe environment in which to exchange ideas and ensure that all policy decisions are made with full understanding of the digital currency and blockchain industry.

The forum is open to all non-profit organizations, academic and research institutions, businesses and anyone interested in digital currency and blockchain technology.

Clearly, this is a sign that cryptocurrencies are about to go mainstream, and the conferences and reports that are expected to be completed by the end of June will have positive results.

Original article: http://cointelegraph.com
By Niall Maye
Compiled by: Kyle
Source (translation): 8btc Information (http://www.8btc.com/european-parliament-cryptocurrency-blockchain-on-fast-track)