EU shows a way forward for Bitcoin entrepreneurs

Submitted by Douwe Lycklama on Sat, 07/05/2014 - 16:35 in

The European Banking Authority’s Opinion on Virtual Currencies (published 4 July 2014) will go down in history as a landmark document for the industry of ‘virtual currencies’ (VC). This is a different message than most media tell who systematically keep on amplifying the fact that ‘banks should avoid virtual currencies’. Let’s look beyond this and elaborate here more on the real messages in this well written report. The key importance of EBA’s message lies in the fact that a short term solution direction on ‘how to deal with virtual currency companies wanting a bank account’ is given to national legislators, who, on their turn, give guidance to EU banks.

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