The well-known Twitter page for cryptocurrency and bitcoin news, Watcher Guru, recently tweeted and broke the news that EU commissioner Mairead McGuinness has called for a global agreement on bitcoin and crypto regulation.
— Watcher.Guru (@WatcherGuru) May 2, 2022
Europe’s financial services and capital markets commissioner at the European Commission, Mairead McGuinness, is urging global authorities to work together to solve possible concerns in the cryptocurrency industry.
As McGuinness opined in a Sunday opinion post for political news source The Hill, both the EU and the US should work to set a global standard for cryptocurrency regulation that takes into account both the advantages and “significant risks” of the cutting-edge technology.
According to the EU commissioner, there is a danger of insider trading, the prospect of Russia using cryptocurrency to escape sanctions and environmental issues that need to be addressed.