EU Commissioner plans to convene a “high-level round table” on cryptocurrencies
The EU Commissioner plans to hold a meeting with government officials and shareholders of private companies to discuss the impact of cryptocurrencies on central banks. Writes about this CoinDesk.
On Tuesday, at a press conference of the Council for Economic and Financial Affairs (ECOFIN), the EU Commissioner for the Euro and Social Dialogue Valdis Dombrovskis said he plans to discuss the issue with several as yet unnamed officials and representatives of the private sector..
He also added: “Cryptocurrencies can affect many areas, including central banks. That is why I want to gather key representatives of the government and the private sector for a high-level round table as soon as possible to assess the long-term situation, and not just the current market trends “.
Several countries have already begun exploring the idea of a central bank-issued digital currency, including the central banks of the UK, India and Canada..
However, reactions to these initiatives have been mixed. Some suggested that central banks would buy cryptocurrencies to bolster their gold and foreign exchange reserves, while others felt that the goals of bankers and buyers of cryptocurrencies were too different from those of central banks, so the latter would rather slow down crypto initiatives with regulatory measures than contribute to their development..
While it is difficult to predict where this discussion will lead now, Dombrovskis’s role in EU structural reform and financial market regulation signals that it could result in new regulatory measures for the cryptocurrency market..
In addition, at the same press conference, Dombrovskis recalled that the EU is interested in using blockchain technologies, but also intends to use a more aggressive regulatory approach to cryptocurrencies in order to curb “illegal behavior”.