Question: What is the EU regulation for Bitcoin and other Cryptocurrencies?
CySEC, the regulatory authority in Cyprus states that:
There is no specific EU regulatory framework governing the trading in virtual currencies and/or CFDs relating to virtual currencies in relation to these products.
Cryptocurrency market is relatively young comparing to other financial markets and due to its unique structures and volatility of market prices, there hasn’t been any regulations setup for such product yet.
Although the maximum leverage for Cryptocurrency products offered by all CySEC licensed brokers is limited to 1:5, the product itself falls outside the scope of the CIFs’ MiFID regulated activities.
*The information above is according to the document published by CySEC on October 13th. There may be updates made on the matter.
