On January 15, Joachim Wuermeling, board member of the Bundesbank, the central bank of the Federal Republic of Germany, which is a part of the European System of Central Banks, has claimed that the serious and effective regulatation of cryptocurrencies requires international cooperation.
“Effective regulation of virtual currencies would therefore only be achievable through the greatest possible international cooperation, because the regulatory power of nation states is obviously limited.”
There are many countries, which made an attempt to regulate cryptocurrency market and ICOs in 2017. Among them – China, USA, Singapore, South Korea. Such an influential country as Germany might initiate a wave of European regulation of cryptocurrencies, which might become a serious milestone in the history of the industry.