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According to a report by Bloomberg on February 23, the Austrian Minister of Finance Hartwig Loger is considering using cryptocurrency regulations that deal with gold and derivatives trading rules as a way to prevent money laundering.

According to a local news media in Vienna, Logue yesterday talked with Portuguese Finance Minister Mario Centeno about his plans for European Union secrecy laws on this basis.

During his talks with Centeno, Loger discussed the European Commission's plan of action to set up a working group in March to accept the European Union's proposal on how to deal with cryptocurrency fraud.

"The situation in Austria is enough for me to take action in this area," said Locke, referring to the recently discovered "bitcoin" (BTC) pyramid scheme.

Logue also proposed the idea of ​​forming a financial regulator by March, where cryptographers will study how cryptography will work with EU agencies.

According to Bloomberg, Loger said in a statement:

As part of Loger's plan, crypto investors will report to the FIU more than $ 12,300 and the crypto trading platform will be overseen by the Austrian Financial Market Authority (FMA).

In addition, the initial coin issue will be based on a "digital prospectus," which will require FMA approval, while the rules for market manipulation and insider trading will be applied to coin issues as they are already in stock and bond The same as the release.

At a press briefing on February 23, FMA boards, Helmut Ettl and Klaus Kumpfmuller wrote that they "welcome Treasury Secretary Hartwig Loger to use cryptocurrencies such as Bitcoin for regulation."

"Since digital money is essentially a phenomenon on the Internet, provided without restrictions, and oversight and oversight of cross-border cooperation are important, we are particularly supportive of ways to address these issues at the European level."

The FMA also wrote that they will contribute to the FinTech regulatory committee put forward by Loger.

EU regulators issued a series of warnings to consumers in mid-February advising them to deal with the high-risk and "price bubble" features of virtual currency.

<a href="https://www.bloomberg.com/news/articles/2018-02-23/austria-seeks-bitcoin-rules-based-on-gold-derivatives-controls">Source</a>