Luxembourg Finance Minister Says Virtual Currencies are Here to Stay (Video)

The Luxembourg Finance Minister, Pierre Gramegna, was interviewed by Bloomberg while attending an event in Hong Kong. While the hed indicated the discussion was about Brexit, the more interesting discussion was about Fintech opportunities and cryptocurrencies.

Gramegna was queried about possible new regulations on the EU level pertaining to cryptocurrencies. Gramegna said;

“Obviously virtual currencies are there to stay. They bring added services. They are convenient. They are more simple and so consumers love them. I think the regulators and the countries will have to monitor it and we will have to regulate it to a certain extent. Certainly more than is the case now. The dangers of Anti Money Laundering are known. There are other issues at stake. Europe will probably handle it together because obviously it is something that touches upon the European single market so it has to be done at the European level.”

Gramegna then went on to discuss another hot-topic – Brexit and the UK’s divorce with Europe.

The video is embedded below.

 

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