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EU to regulate bitcoin? Not yet, at least not at this stage

Faced with the bitcoin coaster-like trend, the EU's political institutions recently included bitcoin in the AML jurisdiction. However, EU Economic and Monetary Affairs Commissioner Pierre Moscovici explained in a recent interview that politicians are not planning to respond to bitcoin at this stage.

Regulators around the world are now eyeing fanatical bitcoins, with EU politicians paying particular attention to money laundering, tax evasion and terrorist financing linked to cryptocurrencies, which have been included in anti-money-laundering directives in Europe. While the EU is said to be "cracking down" on cryptocurrencies, Pierre Moscovici said while bitcoin is being studied in the EU, the Bitcoin markets and exchanges in Europe are not being regulated, at least at this stage.

In an interview with Francine Lacqua, a reporter at Bloomberg Surveillance on Bloomberg Radio, Pierre Moscovici talked about the EU's view on cryptocurrencies:

"At this stage, we do not consider bitcoin an alternative currency as compared to the world's first decentralized currency, the European Union's legal currency, the euro, and we are focusing on and analyzing Bitcoin's highly active markets The status quo, but as an official agency, we do not think it's time to react to bitcoin. "