Cryptocurrency companies called on the EU to ease regulation
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Forty crypto companies have signed an open letter to the European Parliament, the European Commission and other key EU institutions calling for prudent regulation, standardised compliance procedures and an innovation-friendly business environment.
Participants in the crypto industry have raised concerns about some of the recent regulatory initiatives at the EU level.
“We wish to urgently convey our concern with proposed EU laws that threaten the privacy of individuals as well as digital innovation, growth and job creation in Europe,” the letter says.
The petitioners urged regulators not to exceed FATF recommendations on record keeping and user verification, and to exempt decentralised protocols and organisations from organising and registering legal entities.
"Proposals from the European Parliament leading to the disclosure of all transactions and wallet addresses would put every owner of digital assets at risk, years of preparatory work and the future of Web 3.0 in Europe could be derailed," the applicants write.
Source: Cointelegraph
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