EU Moves Toward Regulating Virtual Currencies, Blockchain

By Mark Taylor (May 26, 2016, 6:52 PM BST) -- The European Parliament on Thursday took a big step toward regulating virtual currencies like Bitcoin and backed the creation of a new task force to study the technology that could transform financial services.

The EU took steps Thursday to regulate virtual currencies like Bitcoin as well as blockchain, the digital network system that underpins the cryptocurrency. (Credit: AP) The Parliament also voted to approve a "hands off" oversight of blockchain, or "distributed ledger technology," the digital network system which underpins Bitcoin and is being replicated and tested internally for other uses by the world's biggest banks.

"Some of these changes may...

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