Good News For Blockchain - EU Not In A Hurry To Regulate

Author:Mr Peter Vogel
Profession:Foley & Lardner
 
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The-Blockchain.com reported that as "...blockchain technology has the potential to transform the business landscape and make its mark across many different sectors, it is imperative that policymakers become more accommodating with the development and adoption of blockchain technology." The September 11, 2018 article entitled "EU Holds Off on Crypto Regulation" was not limited to cryptocurrencies and that:

EU Finance ministers who gathered in Vienna last week have agreed to slow down and not act hastily in regulating the emerging crypto markets in Europe.

The article also included these comments from Nicolas Gilot (Co-CEO of blockchain-powered gaming distribution platform Ultra):

Legal regulation will always postdate technological innovation, and with differing national frameworks, the EU is treading carefully.

Imposing early regulation on member states could prove difficult with many countries militating the effects and consequences it could have on blockchain development and its...

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