At a recent press event, European Commission vice president Valdis Dombrovskis noted that a group of European Union regulators will meet to discuss the future regulation of cryptocurrencies.
According to Dombrovskis, the meeting would be a “high level roundtable” that would involve representatives from central banks and market supervisors, as well as key “market players.”
"Next week, on [Feb. 26] I will chair a high level roundtable on virtual currencies. The Commission has invited key authorities, including central banks and supervisors, as well as market players to share their insights.”
Dombrovskis added "The aim is to look at long-term trends linked to virtual currencies, and examine if current regulation is fit for purpose.”
This past week, European leaders including France and Germany have called for more discussions around cryptocurrency. The news also follows regulation meetings in the United States as well as recent news that Japanese regulators would be meeting in the coming days.
A warning issued earlier this month by market watchdogs - the European Securities and Markets Authority (ESMA), the European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority (EIOPA) - on the high risk of crypto, may have prompted this closer look at regulation.
Increased regulation interest from governments is expected as the cryptocurrency market continues to grow and entice investors.