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Pressure mounts on European Commission to regulate cryptocurrencies

World News Publishing Focus

World News Publishing Focus
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Pressure mounts on European Commission to regulate cryptocurrencies

Although bitcoin, the best-known virtual currency, has received bad press for supposedly facilitating criminal activity, many are advocating for a more widespread use of blockchain, the technology behind bitcoin.

Blockchain essentially is a decentralised ledger, which according to its proponents has great potential in increasing transparency and traceability of transactions.

While MEPs are calling on European-wide regulations, the UK government is already looking at how to use virtual currencies to distribute public money more efficiently.

Author

Teemu Henriksson's picture

Teemu Henriksson

Date

2016-04-28 11:58

Author information

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