Local view for "http://purl.org/linkedpolitics/eu/plenary/2016-05-26-Speech-2-160-812"
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"en.20160526.18.2-160-812"2
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"I voted in favour of this report, which calls for an analysis of the rising use of virtual currencies (VCs) such as the bitcoin, which are stored and traded online through distributed ledger technology (DLT). The report outlines the risks associated with the use of a totally unregulated currency which has been issued privately instead of through a central bank or public authority – for example, legal uncertainty for consumers, anonymous use which contributes to tax fraud and money laundering, potential for speculative bubbles, etc.
It also notes that the worldwide web and DLT are internet-based and that despite efforts to create an international governance system the internet is still governed by an agency in the US Department of Commerce.
While the report does not propose pre-emptive legislation to regulate virtual currencies at this stage, it does call for the Commission to carry out an analysis of VCs and consider revising existing relevant EU legislation on payments to include regulation of VCs if appropriate."@en1
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