June 26, 2020 EU economic minister outlines proposed regulation for cryptoassets and DLT technology.

Valdis Dombrovskis, the executive vice-president of the European Commission’s economic and financial ministry, the executive body of the European Union, has stated that the organization is working on regulation for cryptoassets and distributed ledger technology (DLT). In his speech, Dombrovskis stated that the EU has the opportunity to become a ‘global standard-setter’ in embracing digital finance. The new regulations seek to provide surety both for assets currently unregulated as well as those that already fall under existing regulation, seeking to provide a uniform framework for the EU bloc.