European virtual currency industry responds to growing EU policymaker interest with new trade body EDCAB

Virtual currencies have rapidly risen up the European policy agenda in all the major institutions:
.‍ The Council of the European Union put virtual currencies top of their list of areas targeted for rapid progress at its February Council meeting and has called for legislation to be tabled by the end of June 2016.
. The European Parliament is preparing an own initiative report on virtual currencies, with the Committee on Economic and Monetary Affairs scheduled to vote on the report on 25th April 2016. Additionally, the Committee for Internal Market and Consumer Protection is also considering the issue later this month.
. The European Commission has been considering regulation of virtual currencies through its Action Plan and proposals to combat terrorist financing, with legislation ready for the end of June.

In response to this increased interest, the virtual currency and blockchain technology industry has founded the European Digital Currency & Blockchain Technology Forum (EDCAB). EDCAB aims to shape a sound regulatory and policy agenda for virtual currencies and distributed ledger technology in Europe.

The Brussels based Forum will be a ‘one stop shop’ for industry engagement with EU policymakers, legislators, regulators, and law enforcement. Independent and non-profit, EDCAB provides a forum for dialogue on live issues and future policies; creating better understanding and building trust and transparency.

The Forum provides a safe place to exchange views and ensure that policy decisions are taken in full knowledge of the virtual currency and blockchain industry business perspective. The Forum will act as a platform to provide thought leadership, highlight best practice and respond to policy developments on areas of industry consensus.

As the only independent European public policy platform for virtual currencies and distributed ledger technology, EDCAB aims to represent a broad constituency of related technologies, their market participants and users. Membership is open to businesses, non-profit organisations, think tanks, academic and research institutions, and anyone with an interest in virtual currencies and distributed ledger technology.

EDCAB is co-organising a major event on virtual currencies and blockchain technology in the European Parliament in Brussels from 18 to 21 April 2016. It will be the first exhibition on virtual currencies and blockchain in any parliament in the world.

The non-commercial exhibition will bring together representatives from the World Bank, IMF, OECD, Bank for International Settlements, United Nations and Europol, along with academics, central banks, established companies and startups.

Syed Kamall MEP, who is hosting the event, says: „I am pleased to be hosting the exhibition on blockchain and virtual currencies in the European Parliament. Legislators internationally are now looking at this area and how to protect the consumer while stimulating innovation.”

Kamall has co-organised the event in concert with the European Digital Currency & Blockchain Technology Forum – a new Brussels based public policy platform for digital currencies and distributed ledger technologies.

Siân Jones, Edcab founder, comments: „For a strong and comprehensive policy and regulatory framework, collaboration based on indepth understanding of the technology and open debate is vital. The creation of Edcab signals industry’s commitment to work with policymakers over the long term to achieve positive outcomes for the sector and the European citizens it serves.”

Source: edcab.eu