Austria has already joined the list of nations concerned with regulating digital currencies. This European country is geared up towards utilizing as a model currently existing rules for the trading of derivatives and gold.
The authorities’ number one concern is to tame the employment of crypto assets for money laundering, as Bloomberg informed. Additionally, it’s about to enhance oversight measures for conventional financial products to digital currencies.
Hartwig Loeger, the country’s Finance Minister outlined a number of measures the authorities are willing to implement. For instance, they’re planning to make crypto market participants to have all trading parties identified. Another requirement is to uncover trades worth of €10,000 or so, making its transparent to the government’s financial intelligence unit.
Aside from that the regulation in this European country will had to do with so-called initial coin offerings. Loeger is assured that the EU is bound to implement crypto regulation.