Vice President of the European Commission Valdis Dombrovskis recently claimed that “crypto-assets are here to stay” and “despite the recent turbulence, this market continues to grow. “

At a meeting of Economic and Financial Affairs Council (Ecofin) in Vienna 7 September 2018, the European Commission discussed the future of cryptocurrencies.

In his speech, Dombrovskis stressed the necessity to “categorize and classify” crypto assets, in order to guarantee a healthy growth of the market.

The Commission has already teamed up with European Supervisory Authorities to develop a mapping of crypto assets and to provide a solid ground to build on and to decide on further steps in this area.

The Vice President also spoke about the importance of the ICOs as a new way of financing:

“In particular initial coin offerings, or ICOs, we see they have the potential to emerge as a viable form of alternative financing. Already last year, ICOs helped raise over 6 billion dollars in funding and this year this figure will be substantially bigger.”

As reported by BlockchainFlashNews, a recent report from the European Parliament’s Committee on Economic and Monetary Affairs, defined ICOs as “an excellent funding stream for tech start-ups.”

Gianmarco Ebeling

Economics student with a passion for high-tech and innovation. Enthusiastic about the blockchain revolution and his potential to improve all aspects of our lives.

View all posts

Add comment

Your email address will not be published. Required fields are marked *

Advertisement