The EU parliament's economic affairs committee agreed thatthe EU should hold off on regulating blockchain, Reuters reported April 26.
"We don't want pre-emptive regulation, but we do wantprecautionary monitoring," Jakob von Weizsäcker, a member of the EUparliament, told the newswire.
Weizsäcker presented a report on virtual currencies andblockchain, which proposes the launch of a task force to monitor thedistributed ledger technology that underpins bitcoin and suggest regulationsfor the future, if needed. The report noted that any legislation should not beheavy-handed as the technology presented significant opportunities, Reutersnoted.
Although the report is not binding, it will help to frameany future EU legislation on blockchain, the newswire added.