Ireland’s Finance Department Plans Blockchain Working Group

Ireland government authorities aim to prepare a document addressing regulation tactics applicable to cryptocurrency circulation and overall development of blockchain technology. The new working group created specifically to run this initiative would collect and incorporate into the paper public and industry representative opinions along with official EU and other countries standpoints on the matter.The document would be titled “Virtual Currencies And Blockchain Technology”.
Latest raise of cryptocurrency start-ups inside the country has prompted government officials to consider creation of regulation practices.
It is urgently required to introduce appropriate legislation capable of protecting Ireland citizens dealing with cryptocurrency market while at the same time creating clear guidelines for entrepreneurs. Setting up a new legislation framework would also promote Ireland as a place for blockchain investments on the worldwide market.