EU Sees Need For Cryptocurrency Regulation As Market Roils

By Humberto J. Rocha (June 14, 2022, 4:08 PM BST) -- The European Union said on Tuesday that cryptocurrency regulation was a priority after digital markets continue to take a beating that has wiped out billions in value in recent weeks.

Mairead McGuinness, EU commissioner for banking and finance policy, told the European Parliament's Committee on Economic and Monetary Affairs that the regulation of all cryptocurrencies "is necessary" to protect consumers and uphold market integrity.

McGuinness cited recent events such as the collapse of TerraUSD — supposedly a safer stablecoin, which relied on an algorithm to stabilize its value — in May and the sell-off of digital assets that followed as an example...

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