The European Parliament Says Digital Currencies Can Be Used as Money

Aramazdi

newbie

Activity: 71

Merit: 0

Quote from: abojamal on July 30, 2018, 06:56:03 AM

Hi guys
What does this news mean?

https://usethebitcoin.com/the-european-parliament-says-digital-currencies-can-be-used-as-money/

Wait for your responses

my response is very happy, we can shop without we having to exchange BTC first, we can make direct payments, and surely the steps taken by the european side make it easier for tourists to do shopping and vacation to be more enjoyable,

Yusuf_Jay

jr. member

Activity: 37

Merit: 10

What I think about this statement is that the European parliament recognizes cryptocurrency.
They admit that it can be used as an alternative to money when many countries oppose cryptocurrency.

magneto

hero member

Activity: 1666

Merit: 753

Quote from: abojamal on July 30, 2018, 06:56:03 AM

Hi guys
What does this news mean?

https://usethebitcoin.com/the-european-parliament-says-digital-currencies-can-be-used-as-money/

Wait for your responses

Everyone knows already that bitcoin is a form of money. In fact, I'd argue that bitcoin is a much better form of money than even fiat currencies, as it is able to store its value in the long term, which is something that fiat currencies has proven to be terrible at due to the fact that every government that issues it is able to debase it whenever they want, and lead to inflation.

This news pretty much just means that bitcoin is acknowledged officially as a functional form of money, which is definitely a positive.

I'm not sure what tangible benefits this recognition brings. Perhaps some legal consequences/benefits would follow in Europe with bitcoin-related cases. But other than that, I think that it's just an investigation that recognised the benefits of bitcoin, which is honestly a great thing even if there are no apparent tangible benefits.

entrepmind23

sr. member

Activity: 644

Merit: 261

Quote from: DrYe5 on August 01, 2018, 11:10:23 AM

Now we need for some changes cause only words cannot make any difference on our market, there should be some moves which will make the prices go up or which will "tell" to new investors that those projects are not scam and they could put some money in them.

Yes, there are several good news that at least we encounter every day but then the problem is that the media would magnify those bad news because those are the things that would take the attention of the people than the good news do. They are more concerned about their business than reporting what people should know and they would choose a news that has more impact and one of the example of that are the scams.

Quote from: Aikidoka on August 21, 2018, 02:35:19 AM

I do not think that there are people who think bitcoin is a scam. Perhaps, they still have not been introduced to cryptocurrency yet. So, it is normal for them to consider it to be a scam. But either way, they would have to make a lot of researches and be told about it by their close friends whom they trust. On another note, I am glad that among the bad news that crypto is encountering, there are several good ones that, at least, give you a good hope.

There are people who consider bitcoin a scam because that's what they can see always since the media focus on that. Instead of digging deeper about the topic, they would just immediately have a conclusion because it is not regulated anyway and many scams are going on nowadays so they would just immediately conclude it as scam.

Zalura

newbie

Activity: 73

Merit: 0

Quote from: abojamal on July 30, 2018, 06:56:03 AM

Hi guys
What does this news mean?

https://usethebitcoin.com/the-european-parliament-says-digital-currencies-can-be-used-as-money/

Wait for your responses

Actually news like this can be guessed long before Europeans recognize bitcoin currency as a currency, because in the Asian and American continents many countries have also begun to do many things, because they realize that the progress of the times especially the development of goods payment equipment has been developed

so they has chosen the cryptocurrency as a substitute for conventional currency, the use of which is now obsolete, so news like this I think in the future will be very much especially in the Asian continent whose economy is growing very fast.

msk19

full member

Activity: 364

Merit: 102

ADVANCED UX ON BLOCKCHAIN DAPP

Crypto-currencies are already used by some companies as an alternative means of payment for goods and services. Therefore, this news is not surprising.

Aikidoka

sr. member

Activity: 1078

Merit: 342

Sinbad Mixer: Mix Your BTC Quickly

Quote from: DrYe5 on August 01, 2018, 11:10:23 AM

Now we need for some changes cause only words cannot make any difference on our market, there should be some moves which will make the prices go up or which will "tell" to new investors that those projects are not scam and they could put some money in them.

I do not think that there are people who think bitcoin is a scam. Perhaps, they still have not been introduced to cryptocurrency yet. So, it is normal for them to consider it to be a scam. But either way, they would have to make a lot of researches and be told about it by their close friends whom they trust. On another note, I am glad that among the bad news that crypto is encountering, there are several good ones that, at least, give you a good hope.

primejia

newbie

Activity: 70

Merit: 0

Quote from: Harlot on August 01, 2018, 04:09:12 AM

That is a great way for the European Union to finally clear the way of the usage of cryptocurrencies in the Europe. Actually even before this some european countries are accepting Bitcoin and other cryptocurrencies as a mode of payment, I haven't seen any news lately about how this countries see Bitcoin as a illegal form of payment. The EU tackling this issue is finally putting some kind of standard or a go signal for countries who are willing to take advantage of the blockchain technology plus their words are sort of binding when it comes to international law.

very good signal, I think by supporting crypto currency many governments will take advantage of various types of users, for example the government can apply taxes to owners or those who buy and sell using digital currency, the government only studies and analyzes the circulation of money, and I think tax income from the business of buying and selling between countries using digital currency is very large, and that will definitely increase state revenue.

Girlsbit

newbie

Activity: 108

Merit: 0

It has long been possible to buy everything in digital currency.

Lancusters

sr. member

Activity: 630

Merit: 263

Quote from: Dilerium90 on August 15, 2018, 10:01:34 AM

In my opinion i can’t agree with thing, that cryptocurrency can change fiat mony on 100%. Do you belive that goverment of Europ and USA will allow crypto? I think no.

And who will ask their permission? If a critical mass of people who support cryptocurrencies will be recruited and cryptocurrencies will be used in online stores then no government will stop it. People do not understand that the government was created to serve citizens and not Vice versa.

Dilerium90

full member

Activity: 756

Merit: 108

In my opinion i can’t agree with thing, that cryptocurrency can change fiat mony on 100%. Do you belive that goverment of Europ and USA will allow crypto? I think no.

Andrew S

newbie

Activity: 112

Merit: 0

Quote from: abojamal on July 30, 2018, 06:56:03 AM

Hi guys
What does this news mean?

https://usethebitcoin.com/the-european-parliament-says-digital-currencies-can-be-used-as-money/

Wait for your responses

Article as an article, but they still can not do anything and can only reason.

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: Taki on August 11, 2018, 02:14:01 PM

Quote from: stompix on July 30, 2018, 10:06:52 AM

~snip

Yeah, years may pass till this "can be" turn true. As we know politicians can be changed and those promises and courses that one politician made may stay unrealized or just a fairy tale from the election.

And there is another problem to this whole mess which I've just realized when I saw the world "changed"

The election for EU parliament is not always (in almost all cases) at the same time as the elections for the national parliament.
So, there are cases where the majority of the EU senators representing a country are from a party while in their own country the opposition has the majority. Grin

Yeah, pretty fucked up!!!
In my country, there is currently a two-year difference between those elections and for the last 3 we always had a majority change between the two leading parties...

And if you look at Spain for example, PP and PSOE have 80% of the seats in the EU but in the current national parliament, they only hold 50%....

passeroutpass

full member

Activity: 438

Merit: 100

The digital currency is already used as a means of payment for goods and services. Some organizations have already started working with crypto currency.

DrYe5

sr. member

Activity: 490

Merit: 250

I think that they could say a lot of things but till we don't see any moves or changes on our market or in out lives those thing will be only the words without deeper meaning.

Taki

hero member

Activity: 1078

Merit: 514

Quote from: stompix on July 30, 2018, 10:06:52 AM

It means nothing...

Quote

“Digital currencies, also known as ‘virtual currencies’ or ‘cryptocurrencies’ can be defined as ‘a digital representation of value, not issued by a central bank, credit institution or e-money institution, which in some circumstances can be used as an alternative to money.”

They've also added this:

Quote

“The arrival of permissioned cryptocurrencies promoted by banks, even by central banks, will reshape the current competition level in the inter-cryptocurrency market, broadening the number of competitors. ”

In summary, they say cryptos "can" be used as an alternative to money.
But the European Parlament, unfortunately, has no jurisdiction over this matter in the EU, they can't force a country to accept any other method of payment than the euro or their national currency.
It's up to the parliaments of the EU members to vote this for their internal legislation.

So..its just words.

Yeah, years may pass till this "can be" turn true. As we know politicians can be changed and those promises and courses that one politician made may stay unrealized or just a fairy tale from the election.

Gozie51

hero member

Activity: 2660

Merit: 630

Quote from: theyoungmillionaire007 on August 04, 2018, 03:38:57 PM

If I haven't misunderstood then European Parliament is just accepting the fact that cryptocurrencies have a future though they haven't made a decision regarding this. To come to a decision to legalize cryptos among all European countries, the members of the parliament need to step up. But, their seems to be a lot of possibilities for it to happen in the future.

I think that is just what the issue is. The parliament have probably observed that there are some benefits that will be derived from digital currency and that is the reason they are looking at adopting it.

Some of the reasons include that :
It will serve as alternative to fiat which will help financial transaction in this fast technological development.

It will also boost their economy because more money will be invested into it.

Apart from physical money coming as investment, tax will also be generated.

abojamal

member

Activity: 322

Merit: 17

Quote from: audaciousbeing on August 02, 2018, 02:11:52 PM

Quote from: stompix on July 30, 2018, 10:06:52 AM

It means nothing...

It does mean something because maintaining such stand has given hope of holding or investing to someone within the EU region that is in a fix on what to do concerning his new found love. I don't have the statistics to support that but it's right to make such conjecture. Imagine if the India parliament should make such statement, it would really go a long way.

Quote from: stompix on July 30, 2018, 10:06:52 AM

So..its just words.

Its not just words. At this time of serious uncertainty, every positive should be seen as victory in the crypto world no matter how small or inconsequential it might be. A lot of things adopted today, started as mere words and today, its now part of our existence. A body like that not giving an outright negative statement is worthy to be happy about.

I appreciate your analysis
I totally agree with what you said
I hope it will be the beginning of a complete adoption of cryptocurrencies

Zohina

newbie

Activity: 81

Merit: 0

Quote from: abojamal on July 30, 2018, 06:56:03 AM

Hi guys
What does this news mean?

https://usethebitcoin.com/the-european-parliament-says-digital-currencies-can-be-used-as-money/

Wait for your responses

is this news true? if the world really is entering the digital era. It is marked by the use of cryptocurrency as a direct payment tool and can be an option to use conventional or bitcoin currencies. but it seems that it cannot be applied in third world countries, because the effect can be very dangerous, first it can become a means of money laundering of corruptors, secondly it can be a tool of terrorism funding and most importantly developing countries still cannot control or detect the movement of money, because the management system the finances are still limited, but it seems that it is not valid in developed countries such as in Europe or in America. Developed countries should participate in participating in supporting the advancement of global financial management technology.

theyoungmillionaire007

newbie

Activity: 47

Merit: 0

If I haven't misunderstood then European Parliament is just accepting the fact that cryptocurrencies have a future though they haven't made a decision regarding this. To come to a decision to legalize cryptos among all European countries, the members of the parliament need to step up. But, their seems to be a lot of possibilities for it to happen in the future.

cryptoking252

newbie

Activity: 84

Merit: 0

There is a still a long way for EU parliament to fully accept digital currencies as the way it is right now. Without the acceptance of majority of the members of the parliament they cannot still take decisions in favor of Bitcoin. But, definitely in the future it is possible as a lot of European countries are trying to adopt to cryptos right now.

cryptolovers990

newbie

Activity: 97

Merit: 0

This was just a mere statement passed. It has not hit the course yet. But if it does, then it will help a lot of people who have crypto in their possession and may fix the rich poor gap.

jasydoggye

newbie

Activity: 294

Merit: 0

It's good that they are now accepting promising things for their betterment. I think other countries should also take decisions on accepting crypto currency.

SnowAugustine

jr. member

Activity: 140

Merit: 5

Quote from: stompix on July 30, 2018, 10:06:52 AM

It means nothing...

Quote

“Digital currencies, also known as ‘virtual currencies’ or ‘cryptocurrencies’ can be defined as ‘a digital representation of value, not issued by a central bank, credit institution or e-money institution, which in some circumstances can be used as an alternative to money.”

They've also added this:

Quote

“The arrival of permissioned cryptocurrencies promoted by banks, even by central banks, will reshape the current competition level in the inter-cryptocurrency market, broadening the number of competitors. ”

In summary, they say cryptos "can" be used as an alternative to money.
But the European Parlament, unfortunately, has no jurisdiction over this matter in the EU, they can't force a country to accept any other method of payment than the euro or their national currency.
It's up to the parliaments of the EU members to vote this for their internal legislation.

So..its just words.

The European Parliament is just a bunch of old guys in suits sitting around and blowing fluff all over the place. They have no jurisdiction anywhere in the EU, ironically. That's why the EU is doomed to fail. You cannot have a monetary union with autonomous states. The states have no power over their economies this way.

It could be a way to cover their asses maybe. Just to say that legally, they recognize it as a form of money, so other countries are free to tax their people all they want. Or it could be a signal of adoption, showing a move towards bringing a similar type of digital currency into their monetary union.

Bharat24

newbie

Activity: 29

Merit: 0

The step of European parliament is provid that digital currencies getting their importance & demand in the crypto market. Effect goes on other country will same. So more & more currency will use digital currency as a money.

Flor1982

full member

Activity: 714

Merit: 100

Quote from: abojamal on July 30, 2018, 06:56:03 AM

Hi guys
What does this news mean?

https://usethebitcoin.com/the-european-parliament-says-digital-currencies-can-be-used-as-money/

Wait for your responses

I think some of the European countries are already using digital currency like Bitcoin as their local money. Germany and France are the top of them in which Bitcoin can be directly use to establishments that accepting Bitcoin as payment option. Therefore it is not impossible for the whole EU that they will use Bitcoin as paper money next to Euro currency and if this will happen then for sure Bitcoin price will become more stable and strong.

Ridwan Fauzi

full member

Activity: 1330

Merit: 147

Quote from: DrYe5 on August 01, 2018, 11:10:23 AM

Now we need for some changes cause only words cannot make any difference on our market, there should be some moves which will make the prices go up or which will "tell" to new investors that those projects are not scam and they could put some money in them.

Many people and even more economists who say bitcoin is a fraud, but with this news will make and dismiss the economic experts' predictions about fraud in cryptocurrency/digital currency/bitcoin.

If this news continues to spread and again many media write similar things, cryptocurrency will easily change the market drastically. Look at what has happened, a price increase of $ 1000 in one hour and a $ 1000 increase in one day, this is a proof for you.

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: audaciousbeing on August 02, 2018, 02:11:52 PM

Quote from: stompix on July 30, 2018, 10:06:52 AM

It means nothing...

It does mean something because maintaining such stand has given hope of holding or investing to someone within the EU region that is in a fix on what to do concerning his new found love. I don't have the statistics to support that but it's right to make such conjecture. Imagine if the India parliament should make such statement, it would really go a long way.

This is what I've been trying to tell people here but it seems I'm just speaking to the walls
The EU parliament is nothing like the parliament in India, Germany or Somalia.

It has very limited powers, and it has absolutely zero power when it comes to financial matters of the member countries.
There have been thousands of discussions, projects of laws and more which have been a waste of time, even a full majority of the parliament can't issue a law that would intrude on the financial regulations of a member country.

As I said before, the 3% deficit is a perfect example of this, it was of course ratified by the all the members in the Stability and Growth Pact, but for it to be put in motion once breached by a country requires a full majority vote of the Council of Ministers, in which ..guess what, even the country that is going to be sanctioned has a veto right!!! Grin

And you can see for yourself in the news why this statement means nothing..
It had no effect on the price, nobody but the blogs covering crypto talk about, silence.

Nothing will come from the EU parliament apart from words, everything must come first from the member states.

USDOLLAR

newbie

Activity: 98

Merit: 0

From my point of view it is a very strong and positive attitude shows by the European Parliament.Today they have open the great way may be possible as early they will make laws. Its effect goes surely on other countries, they will also trying to adopt crypto currency as a legal in his country. Crypto world will be very happy to hear digital currency can be used as money says the European Parliament.

kellyscott

newbie

Activity: 154

Merit: 0

with this statement they actually meant that cryptocurrency can be used as altarnetive of money, if it is approved by the parliament that is mean it is not illegal there anymore so it is definitely a very wonderful and progressive move , soon it will be illgalize all over the world.

joellogan

newbie

Activity: 196

Merit: 0

Virtual currencies are quicky getting their importance and demand. In my opinion, European parliament declaration is the prove of that. It was done to analyze the impact that crypto currencies can have on todays economy.

nickmiller

newbie

Activity: 154

Merit: 0

The Europian Parliament declared their opinion that cryptocurrency can be used as an alternative of money. Their detailed review of the report shows that how much impact crypto currencies have on the global economy.

audaciousbeing

hero member

Activity: 1330

Merit: 569

Quote from: stompix on July 30, 2018, 10:06:52 AM

It means nothing...

It does mean something because maintaining such stand has given hope of holding or investing to someone within the EU region that is in a fix on what to do concerning his new found love. I don't have the statistics to support that but it's right to make such conjecture. Imagine if the India parliament should make such statement, it would really go a long way.

Quote from: stompix on July 30, 2018, 10:06:52 AM

So..its just words.

Its not just words. At this time of serious uncertainty, every positive should be seen as victory in the crypto world no matter how small or inconsequential it might be. A lot of things adopted today, started as mere words and today, its now part of our existence. A body like that not giving an outright negative statement is worthy to be happy about.

Kris34

newbie

Activity: 100

Merit: 0

Say they can a lot. The main thing to do. Say what you want to use money will solve this situation.

cryptojohnn7

newbie

Activity: 294

Merit: 0

If they really do this then it will be a great achievement for cryptocurrency. I think cryptocurrency really deserves this. It provides more facilities so we should accept it asap.

CoinEraser

legendary

Activity: 1988

Merit: 1768

Quote from: abojamal on July 30, 2018, 06:56:03 AM

Hi guys
What does this news mean?

https://usethebitcoin.com/the-european-parliament-says-digital-currencies-can-be-used-as-money/

Wait for your responses

This statement will certainly not change the world, but nevertheless it is a positive signal for crypto. Europe seems to be very open to crypto and they see the blockchain as a tool of the future. I like that and I hope it stays that way.

Mest bowl

newbie

Activity: 2

Merit: 0

European Union do not cleare their comment abou crypto currency. Crypto currency are more increasable currency and more useable. I think it will be use as an alternative money. thank you

Netrat16

newbie

Activity: 3

Merit: 0

I think it’s a very good news for us. As European parliament accept this digital currency so many people now try to use it instead of euro. It’s a positive news for me.

Hince1999

newbie

Activity: 2

Merit: 0

Though it is just a word by the parliament, it gives hope to crypto enthusiasts but it is not any legal action. Europe is thinking very intense about the cryptocurrency that will bring a new era that spread cryptocurrency more.

Tertion

newbie

Activity: 1

Merit: 0

Great! I think they mean that people can use crypto as alternate of money. That’s will effect good on crypto. But that’s still don’t give clear view about cryptocurrencies.

Spaffin

full member

Activity: 1316

Merit: 108

Quote from: abojamal on July 30, 2018, 06:56:03 AM

Hi guys
What does this news mean?

https://usethebitcoin.com/the-european-parliament-says-digital-currencies-can-be-used-as-money/

Wait for your responses

This is a very good statement by the European Parliament for the future of the crypto currency. It is very valuable for decentralized crypto currency and creates the prospect for, the introduction of the same position in specific countries of the European Union. The European Parliament actually gave the highest assessment to the decentralized crypto currency, pointing out that it can be used in the EU countries as alternative money along with national money.

stomachgrowls

hero member

Activity: 3010

Merit: 794

Quote from: stompix on July 30, 2018, 10:06:52 AM

It means nothing...

Quote

“Digital currencies, also known as ‘virtual currencies’ or ‘cryptocurrencies’ can be defined as ‘a digital representation of value, not issued by a central bank, credit institution or e-money institution, which in some circumstances can be used as an alternative to money.”

They've also added this:

Quote

“The arrival of permissioned cryptocurrencies promoted by banks, even by central banks, will reshape the current competition level in the inter-cryptocurrency market, broadening the number of competitors. ”

In summary, they say cryptos "can" be used as an alternative to money.
But the European Parlament, unfortunately, has no jurisdiction over this matter in the EU, they can't force a country to accept any other method of payment than the euro or their national currency.
It's up to the parliaments of the EU members to vote this for their internal legislation.

So..its just words.

True, anyone can say such thing but it always end up to be debatable yet there would really be oppositions if they would tend to implement it.
It had been said for how many times that virtual or cryptocurrencies could be used as money but even up to these years of existence that presumptions wouldnt end up to have a conclusion.
Therefore those words wont really justify something but rather would stay imaginary.

WaterSeal

newbie

Activity: 56

Merit: 0

If I haven't misunderstood then European Parliament is just accepting the fact that cryptocurrencies have a future though they haven't made a decision regarding this. To come to a decision to legalize cryptos among all European countries, the members of the parliament need to step up. But, their seems to be a lot of possibilities for it to happen in the future.

MegaDots

newbie

Activity: 44

Merit: 0

There is a still a long way for EU parliament to fully accept digital currencies as the way it is right now. Without the acceptance of majority of the members of the parliament they cannot still take decisions in favor of Bitcoin. But, definitely in the future it is possible as a lot of European countries are trying to adopt to cryptos right now.

ChainFish

newbie

Activity: 217

Merit: 0

EU parliament just agreed that virtual currencies can be used as money but their members haven't yet voted for it rather they are still trying to regulate it as it is "decentralized and disruptive" in nature. So, first they need to come up with a good framework to regulate cryptos and majority of the members need to vote for it. Then it will mean something.

DrYe5

sr. member

Activity: 490

Merit: 250

Now we need for some changes cause only words cannot make any difference on our market, there should be some moves which will make the prices go up or which will "tell" to new investors that those projects are not scam and they could put some money in them.

hugeblack

legendary

Activity: 2758

Merit: 4074

This news cut from news from another article. source --->https://www.torial.com/en/satoshi.nakamoto/portfolio/345465
In short, It speaks of a report of the European Parliament as follows

Quote

Furthermore, cryptocurrencies are thought-about revolutionary and disruptive. They function in a decentralized means they don't have any participation or supervision by any central authority, and no central financial institution controls the system.
One other vital factor they talked about is expounded with rules. They admit that it's difficult and it's a difficult subject to debate. Along with it, the European Authorities are nervous in regards to the focus of mining operations in non-European international locations.

In other words, as long as a large part of the mining operations are outside the European countries [They can control it by imposing mining regulations], it is difficult to manage those currencies and therefore difficult to accept.
Also, those coins can be used to be devastating/disruptive.

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: mohammedmattar on July 31, 2018, 04:32:04 PM

Quote from: stompix on July 30, 2018, 10:06:52 AM

It means nothing...

Quote

“Digital currencies, also known as ‘virtual currencies’ or ‘cryptocurrencies’ can be defined as ‘a digital representation of value, not issued by a central bank, credit institution or e-money institution, which in some circumstances can be used as an alternative to money.”

They've also added this:

Quote

“The arrival of permissioned cryptocurrencies promoted by banks, even by central banks, will reshape the current competition level in the inter-cryptocurrency market, broadening the number of competitors. ”

In summary, they say cryptos "can" be used as an alternative to money.
But the European Parlament, unfortunately, has no jurisdiction over this matter in the EU, they can't force a country to accept any other method of payment than the euro or their national currency.
It's up to the parliaments of the EU members to vote this for their internal legislation.

So..its just words.

Sorry, let me disagree with you
The European Parliament is mainly composed of elected members
In the sense that it reflects the image within their own countries
That is, they are not isolated from the views of their countries
I see a strong signal in the positive direction

Yeah, it is composed of elected members (not mainly) but that means nothing.
Let's say Germany, France etc all the western group votes for and the Visegrad countries against.

Do you think the views of the majority will be imposed? No, that's not how the EU parliament works.
When it comes to the financial sector, all the parliament can do is guidelines, like the 3% deficit margin, they CAN'T impose a country anything when it comes to this.

Only the Economic and Financial Affairs Council, (not to be confused with the Economic and Financial Committee, lol) can with a unanimous vote impose regulations in the EU area regarding financial matters.
But since it's a unanimous vote is clear everyone agrees Grin

abojamal

member

Activity: 322

Merit: 17

Quote from: Lucius on August 01, 2018, 05:17:33 AM

European Parliament is an institution with 750 directly elected representatives ( each EU county have elections ), which makes the legislative authority of the European Union. This opinion is just their stance toward cryptocurrency, but each member country should adopt laws for itself as Germany did some time ago, and as Malta is doing in recent months. In EU, Council of the European Union usually brings laws and European Parliament gives its approval, furthermore I think that each of these laws must be passed in national parliaments.

Since Germany as the most influential member of the European Union has very positive attitudes and good regulation regarding cryptocurrency, this position of the European Parliament is expected. I personally see it as a positive signal to the member states when making local laws and regulations.

I agree with you completely
The signal is very good and elected members of parliament do not speak on their own
Germany's explicit move would have a positive impact with the European Parliament's signal
But some young people here are hasty and want to quickly recognize of world in cryptocurrencies

Lucius

legendary

Activity: 3234

Merit: 5637

Blackjack.fun-Free Raffle-Join&Win $50🎲

European Parliament is an institution with 750 directly elected representatives ( each EU county have elections ), which makes the legislative authority of the European Union. This opinion is just their stance toward cryptocurrency, but each member country should adopt laws for itself as Germany did some time ago, and as Malta is doing in recent months. In EU, Council of the European Union usually brings laws and European Parliament gives its approval, furthermore I think that each of these laws must be passed in national parliaments.

Since Germany as the most influential member of the European Union has very positive attitudes and good regulation regarding cryptocurrency, this position of the European Parliament is expected. I personally see it as a positive signal to the member states when making local laws and regulations.

jseverson

hero member

Activity: 1834

Merit: 759

Quote from: mohammedmattar on July 31, 2018, 04:32:04 PM

Sorry, let me disagree with you
The European Parliament is mainly composed of elected members
In the sense that it reflects the image within their own countries
That is, they are not isolated from the views of their countries
I see a strong signal in the positive direction

I think what he meant to say was that the statements weren't legally binding. I wouldn't go as far as to say they're completely useless, but as far as formal policies go, they actually are.

I'm personally happy about this because it's much better than the alternative of outright opposition (like we need more of those lol), but yeah this doesn't really mean crypto can be used everywhere in the EU countries, as others may be thinking.

Harlot

hero member

Activity: 1806

Merit: 672

That is a great way for the European Union to finally clear the way of the usage of cryptocurrencies in the Europe. Actually even before this some european countries are accepting Bitcoin and other cryptocurrencies as a mode of payment, I haven't seen any news lately about how this countries see Bitcoin as a illegal form of payment. The EU tackling this issue is finally putting some kind of standard or a go signal for countries who are willing to take advantage of the blockchain technology plus their words are sort of binding when it comes to international law.

NeuroticFish

legendary

Activity: 3668

Merit: 6382

Looking for campaign manager? Contact icopress!

Quote from: mohammedmattar on July 31, 2018, 04:32:04 PM

I see a strong signal in the positive direction

It is a strong signal indeed, however, as others said, it has no legal value in any country as long as the countries don't have their laws adapted to encapsulate this.
Also Germany has already given such signal, so .. that step is already done.

So for now, indeed, it doesn't mean much.

mohammedmattar

member

Activity: 448

Merit: 20

Quote from: stompix on July 30, 2018, 10:06:52 AM

It means nothing...

Quote

“Digital currencies, also known as ‘virtual currencies’ or ‘cryptocurrencies’ can be defined as ‘a digital representation of value, not issued by a central bank, credit institution or e-money institution, which in some circumstances can be used as an alternative to money.”

They've also added this:

Quote

“The arrival of permissioned cryptocurrencies promoted by banks, even by central banks, will reshape the current competition level in the inter-cryptocurrency market, broadening the number of competitors. ”

In summary, they say cryptos "can" be used as an alternative to money.
But the European Parlament, unfortunately, has no jurisdiction over this matter in the EU, they can't force a country to accept any other method of payment than the euro or their national currency.
It's up to the parliaments of the EU members to vote this for their internal legislation.

So..its just words.

Sorry, let me disagree with you
The European Parliament is mainly composed of elected members
In the sense that it reflects the image within their own countries
That is, they are not isolated from the views of their countries
I see a strong signal in the positive direction

Don Pedro Dinero

legendary

Activity: 1358

Merit: 1565

The first decentralized crypto betting platform

Quote from: stompix on July 30, 2018, 10:06:52 AM

It means nothing...

Yes, in some cases even a stone can be used as a currency. I think that statement is just a description of what happens, rather than a legal enforcement.

KingScorpio

sr. member

Activity: 1470

Merit: 325

Quote from: abojamal on July 30, 2018, 06:56:03 AM

Hi guys
What does this news mean?

https://usethebitcoin.com/the-european-parliament-says-digital-currencies-can-be-used-as-money/

Wait for your responses

now lets see weather we can decrease the power of the supper rich when they will pump billions into the market to corrupt themselves to the top

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

It means nothing...

Quote

“Digital currencies, also known as ‘virtual currencies’ or ‘cryptocurrencies’ can be defined as ‘a digital representation of value, not issued by a central bank, credit institution or e-money institution, which in some circumstances can be used as an alternative to money.”

They've also added this:

Quote

“The arrival of permissioned cryptocurrencies promoted by banks, even by central banks, will reshape the current competition level in the inter-cryptocurrency market, broadening the number of competitors. ”

In summary, they say cryptos "can" be used as an alternative to money.
But the European Parlament, unfortunately, has no jurisdiction over this matter in the EU, they can't force a country to accept any other method of payment than the euro or their national currency.
It's up to the parliaments of the EU members to vote this for their internal legislation.

So..its just words.

abojamal

member

Activity: 322

Merit: 17

Hi guys
What does this news mean?

https://usethebitcoin.com/the-european-parliament-says-digital-currencies-can-be-used-as-money/

Wait for your responses

Topic: The European Parliament Says Digital Currencies Can Be Used as Money (Read 621 times)