The European Union announced this Thursday the first law regulating cryptocurrencies. The objective is to control this new technology since, according to the European Commission, "the future of finance is digital", therefore it is necessary to mitigate "any potential risk.
European leaders seek to reduce investor risks while increasing the safety of those who issue these assets. One of the objectives of the new legislation is for the European Union to reduce "market fragmentation" in this space, the executive vice president of the European Commission, Valdis Dombrovskis, explained to CNBC.
The proposal comes after lTwenty-seven have reported the risks that this type of currency may have especially powerful ones, such as Libra, Facebook's stablecoin project.
It is complex legislation so it will not be until at least a year from now when there is a firm law on the table, "depending on the priority given by both member states and the European Parliament”, Has qualified Dombrovskis to CNBC.