According to a most and highly known broker from the Austrian nation is that the production of bitcoin should be regulated so that its production can be similar to that of gold and other well-known minerals that can probably do the same work .
He further says that this should be done in order to regulate the transfer of funds that is bitcoin sales should be in such ay related to gold so that the producers and miners can engage in both works.
Bitpanda turnover which is expected to surpass one billion this year, a renowned economist says that this regulation process should highly put into consideration to protect the junior minerals and companies.
During a recent conversation with a journalist belonging to a known media station, bitpanda executive officer Eric Demuth said that the regulations were put into standards that they were looking for but they were warned that no regulations should be put into consideration yet.
He went on further to say that they had really wanted to be regulated but as by the time he was holding the talks they had been denied such opportunity. Adding that even the major companies dealing on known minerals will also benefit from the simple laws they proposed compared to the stocks and bonds the company had used to impose.
The bitcoin company was advised that the more strict financial standard they could stop the coming up market for automated cash in the new world.
A week earlier the Austrian regulatory authorities had come out to give warnings to banks on their cryptocurrency dealings but gave no further details on the progression of the process.
The process in European Union has continued to be complicated and be a very much up in the air.
In case the laws will bring a change then they ought to come from the European union according to a renowned economist in the larger region .for this to happen a taskforce together with a committee need to be put in place and its well spelt out how long the process should take.
This means that the entire market will be able to benefit from this initiative.