Impending moves by Brussels to cobble together new regulations on cryptocurrencies should focus on clarifying how existing laws apply to the sector rather than creating a new directive, experts argue.
Valdis Dombrovskis, the European Commission vice president and commissioner in charge of financial services, said earlier this month that he plans to put forward new laws on crypto-assets.
Businesses solely providing or using crypto are largely unregulated in most EU member states, and regulators across the bloc have wildly different interpretations of when a crypto-asset is a currency, security or some other instrument.
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