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EU to see comprehensive crypto regulation by 2024

09/18/2020

Crypto continues its trek into the mainstream.

The European Union, or EU, plans to incorporate crypto and blockchain technology into its main processes by 2024. 

Over the next four years, the economic union aims to firm up fresh regulations that will promote blockchain and digital asset usage for international money transfers, according to details from internal documents that Reuters published Friday. 

The documents detailed:

“By 2024, the EU should put in place a comprehensive framework enabling the uptake of distributed ledger technology (DLT) and crypto-assets in the financial sector […] It should also address the risks associated with these technologies.”