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Europol Calls on EU to Legislate Use of Virtual Currencies
By Irene Madongo
printEU lawmakers should extend anti-money laundering requirements to some businesses that use or exchange virtual currencies, according to the economic bloc's law enforcement agency. In a report on how organized crime groups could exploit Internet-related technologies, Europol said Monday that jurisdictions should regulate "virtual currency scheme operators and exchangers" under the same framework as fiat currencies. European lawmakers need to apply such laws and rules uniformly to shield the technology from criminal misuse, the agency said. The agency also warned that privately-developed virtual currencies and improvements to computer processing power could aid criminal organizations seeking to steal electronic funds or...
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