in the recommendation that cryptocurrency operators should be placed under the Anti-Money Laundering Directive. Weve wanted to be regulated, but so far have been told that we cannot be, said, eric Demuth, co-CEO of Bitpanda. In an interview with, bloomberg, Demuth stated that regulations would enhance the legitimacy of companies like Bitpanda operating in the market. This may be due to a desire for uniformity when dealing with clients from other EU countries, avoiding the problem of having to grasp a potential 28 different legal schools of thought with regards to how cryptocurrencies should be treated. Paul Klanschek, the other half of Bitpanda, is of the opinion that crypto regulations in Europe should come from the EU level. Eric Demuth, the co-CEO of, bitpanda, the largest bitcoin broker in Austria and one of the biggest in Europe believes that the pioneer cryptocurrency should be regulated in a similarly to gold. Demuth is of the opinion that a gold-standard form of regulation for bitcoin would be most advantageous to the market. Paul Klanschek, another co-CEO of Bitpanda, believes that regulations should come from the EU level, as opposed to being enacted by each individual member state.
This continues to be an over with which the European Commission treads lightly. A team member's recent model mobile phone with up-to-date. Mandatory Network Upgrade Bitcoin Gold is in the process of a mandatory Network Upgrade. Now, according to the leadership of Bitpanda, bitcoin should enjoy the same legislative framework that gold enjoys instead of the tightly regulated nature of other asset classes like stocks or bonds. Other than that, the roundtable did not come to any conclusions on how cryptocurrencies should be treated on an EU level. While Bitpandas founders agree with Demuth on regulation such as anti-money laundering and anti-terrorism, they also believe it is equally necessary to ensure that the Austrian cryptocurrency market has room to grow.
Although Bitcoin has earned a reputation for being a criminals dream come true, gold and even hard cash have been tools for tax evasion and other illicit activities for far longer than any digital currency on the market. The BTG network successfully upgraded PoW and DAA algorithms via hardfork in early July, improving stability, reducing attack vectors, and booting asic miners. This is at least what the Austrian finance ministry is considering, as it is looking through the trading regulations around gold to draw inspiration on how to regulate cryptocurrencies. Some countries have effectively banned cryptocurrencies, while others have tried to impose strict restrictions on the market. In a related development, the, austrian Ministry of Finance announced in, february 2018 that it was examining potential regulations for the cryptocurrency market based on established rules for gold and derivatives. Despite the lack of adoption by stakeholders in the mainstream financial markets, Bitpanda continues to interact with many state agencies.
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