GERMANY: REGULATION OF CRYPTO-CURRENCY SHOULD BE GLOBAL

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The Central Bank of Germany believes that it is impossible to regulate cryptocurrency on a national scale. The very nature of the functioning of a virtual community without borders does not allow doing it — Jens Weidmann, Director of the Central Bank. Attempts of some countries to slow down trading the bitcoin and other currencies did not lead to anything. In China, South Korea, the mining activity and the exchange of currencies continued to function. Member States of the European Union and legislators are forced to take this experience into account and agreed to develop stricter rules to prevent possible money laundering and terrorist financing. Now we are talking only about how to achieve effective regulation of virtual currencies through the greatest possible international cooperation.

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