theregister.co.uk / Richard Chirgwin with Simon Sharwood / 7 Jul 2014
Regulation desirable but way too hard
The European Banking Authority, which has previously warned consumers that they’re unprotected if they get themselves into the crypto-currency game, has followed up with a don’t-touch warning to banks.
In this announcement, issued on Friday July 4, the EBA says it’s identified “more than 70 risks” that apply to users, banks, enforcement of money-laundering laws and payments in fiat currencies.
Last December, the EBA gave a specific warning to consumers that they were unprotected in the world of Bitcoin.
The authority appears to put Bitcoin regulation in the too-hard basket, at least for now, saying that “a regulatory approach to address these risks would require a substantial body of regulation”. - READ MORE: http://www.theregister.co.uk/2014/07/07/eurobankers_warned_dont_touch_bitcoin
