The chairman of the European Banking Organization (EBA) proposed to abandon the regulation of digital currencies directly.

Andrea Henrija said that bans on trade and retention of the currency for banks and other financial institutions would be more effective than direct regulation of digital currencies.

He stressed that the absence of institutions that support the criterion, does not mean that they should be regulated.

EBA does not agree with the regulation of FinTech as banks

According to the Chairman of the Organization, excessive pressure on this segment of the crypto-currency market can lead to stagnation in the field of financial innovations.

This is due to the fact that the requirements for banks may not be feasible for small start-ups.

However, the regulation of FinTech projects should be introduced throughout the EU so that the association can maintain competitiveness with other states, reports The Cointelegraph.

Earlier, Europol named Dash, Monero and Zcash the most in demand among criminals, which leads to problems with tracking transactions.

Author: Vasilisa Ming, Analyst Freedman Club Crypto News

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