EBA Suggests Steady Approach to Crypto

The European Banking Authority (EBA) has suggested European countries to take a steady approach towards cryptocurrencies in a document published a few days before. EBA in its report, “Typically, crypto-asset activities do not constitute regulated services within the scope of EU banking, payments and electronic money law, and risks exist for consumers that are not addressed at the EU level.”

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EBA Suggests Steady Approach to Crypto

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

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