In Austria, the Ministry of Finance is going to settle cryptocurrency market, as it had been done in due time with the trade of derivatives and gold. The European Union, in turn, according to Austria, should follow their example, as reported by CCN.
“Cryptocurrencies are significantly gaining importance in the fight against money laundering and terrorism financing,” Loeger said in a statement, according to a Bloomberg report. “That’s an important aspect for the changes we support. We need more trust and more security.” — said the Minister of Finance Hartwig Leger.
According to Leger, any initial offer of coins should be considered as a securities issue. The ICO must be approved by the regulator. And since the minister does not say about the ban of fintech, it is not surprising that such a statement is considered as an attempt to take the new economy in hand.
The minister also took into account the fact that the crypto currency is currently of an unregulated nature, from which the European Union needs to stick to the international regulatory framework regarding crypto currency.
The Austrian government increased the importance of the settlement of the crypto-currency after the notorious Austrian investment scheme called Optioment, which attracted more than 10,000 investors for 12,000 BTC, resulted in more than $ 122 million, and robbed its depositors.
Although Austria has not become deeper in specifics yet, but the UK Treasury is already conducting its research on both the advantages and risks of cryptocurrency, and blockchain technologies in particular.