EU: new rules on cryptocurrencies by 2024

78% of payments in the old continent are still made in cash. We need to accelerate with initiatives to support cashless and digital transactions. They know this well in Brussels where the Commission is working to define a strategy that will lead the old continent to finally embrace innovation in the financial field through the regulatory instrument by 2024: Europe is preparing to define rules that will take into account new ones. dynamics and new technologies, above all those related to cryptocurrencies.

Crypto, stablecoin and blockchain: Europe at work

A document leaked and consulted by Reuters explicitly refers to the use of blockchains and more generally of Distributed Ledger Technology. The one at the gates can be described as a sort of FinTech turning point for European institutions, perhaps stimulated by the discussion on the topic following the presentation of the Libra project by Facebook which, on the one hand, raised an alarm bell from more brought related opportunities to light.

By 2024 Europe will need to have a comprehensive framework in place to enable the adoption of DLT systems and crypto assets in the financial sector. It will also have to face the risks associated with these technologies.

It is therefore not excluded that even in the classrooms of continental politics, stablecoins will soon begin to be talked about with a certain frequency, which unlike cryptocurrencies such as Bitcoin have their own value linked to that of a traditional asset. This protects them from volatility risk by avoiding sudden changes often linked to speculation maneuvers.