Cryptocurrency Dialogue in Brussels
At a lively gathering in the corridors of the European Parliament, MEP Sorin Moisa declared that cryptocurrencies are not just a passing trend—they’re here to stay! This proclamation kicked off a frank discussion organized by the ORCA Alliance and EU40. Moisa stressed the urgency of implementing a robust regulatory framework, stating that the current need is to separate the wheat from the chaff in the crypto world, particularly focusing on the Anti-Money Laundering Directive.
“We need policies aimed at eliminating impostors and revising existing regulations to kick-start this necessary process,”
Moisa said, emphasizing the importance of regulating Initial Coin Offerings (ICOs) to align with EU security frameworks.
The Need for Clarity in Definitions
Following Moisa on stage, MEP Eva Kaili echoed the sentiment, suggesting that the real magic of cryptocurrencies lies in their potential for increased decentralization—making traditional intermediaries feel a bit… unnervingly irrelevant. Kaili proposed that decision-makers must exercise patience, allowing the market to finalize its definitions before jumping in.
- Decentralization: The end of unnecessary middlemen?
- Market Testing: Let the developers experiment before the regulators leap ahead.
Innovation Support from the European Commission
Peteris Zilgalvis of DG CONNECT shed light on the European Commission’s positive stance towards innovation. He hinted at a broader vision for blockchain technology beyond just the realm of finance. Zilgalvis announced the upcoming launch of the Blockchain Observatory:
“This initiative will forge collaborations with innovators and evaluate various use cases for cryptocurrencies. We need to decide if intervention is necessary or if the market is best left to its own devices,”
he revealed. Plus, the FinTech Action Plan is scheduled for March 2018—stay tuned!
Paving the Way for Mass Adoption
Tadas Langaitis, a Member of the Lithuanian Parliament, observed that clear guidelines regarding cryptocurrencies could propel their mass adoption throughout the EU. He has been globe-trotting to promote blockchain technologies, convinced they could usher more people into the Bitcoin revolution. It seems he’s ready to lead an army of digital warriors into the crypto fray!
Regulatory Holes and the Call for Clarity
Dmitrij Radin, CTO of ORCA Alliance, sought to address some pressing regulatory gaps discussed at the forum—including the glaring absence of clear definitions surrounding cryptocurrencies. He articulated the widespread concern of fragmentation and inconsistent standards compared to regulated payment methods.
“The industry is calling for guidelines, if not a full legislative framework, to legitimize these new payment methods,”
Radin stated, reinforcing the crypto community’s hope for decisive guidance from policymakers to dodge the murky waters of legal ambiguity.
Notable Attendees
The event attracted a cast of characters from the crypto world, each adding their perspective to the conversation. Among them were:
- Sarah Compani, Legal Advisor, Bitfinex
- Craig Sellars, Co-Founder and CTO, Tether
- Anastasija Plotnikova, Legal Adviser, ETHLend
- Martins Liberts, Co-Founder, Debitum Network
- Marius Parescius, Initiator, Business Hive Vilnius
- Natan Avidan, Founder, ORCA Alliance
- Jeremy Gardner, Founder, Augu
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