Europe’s top banking regulator wants lawmakers to look into creating pan-EU rules for cryptocurrencies such as Bitcoin and Ethereum, in order to give consumers better protection across the bloc.
In a report issued Wednesday, the European Banking Authority (EBA) noted that cryptocurrency activity in the EU remains “relatively limited” for now, so there’s no imminent threat to financial stability.
It added, however, that services such as crypto-wallets and cryptocurrency trading platforms aren’t covered by existing EU-level financial services law and, while they may be covered by some national laws, those rules aren’t consistent across the bloc.
