On April 26, the European Parliament’s Committee on Economic and Monetary Affairs (ECON) confirmed it voted in favor of a proposal contained in a draft report (Report) to create a virtual currencies taskforce. The taskforce would be created to (1) build expertise in the technology of virtual currencies (such as Bitcoin), and (2) where appropriate, propose regulatory measures necessary to regulate those currencies, particularly in the context of preventing money laundering and terrorist financing.

The Report was published by ECON in February 2016 and will be considered by the European Parliament as a whole and then sent to the European Commission for further consideration.

A copy of ECON’s press release is available here.

A copy of the Report is available here.