Bitcoin should be regulated like gold - which is beneficial from the rules of simpler compatibility than stocks or bonds - according to the largest dealer of digital tokens in Austria.
The European Union's cryptoconce transaction should be in excess of 10,000 euros ($ 12,300), subject to anti-money laundering rules, a more serious financial parameter can be applied to the digital cash development, said Bitbander, GMBH founder.
Bitipandar co-CEO Arim Dhammoth (28) said in an interview, "Control gives us more legitimacy." We wanted to be controlled, but so far it has been said that we can not be. "
Financial markets and regulators are struggling to classify digital tokens created by global entrepreneurs, which challenge against traditional, central bank-supported currencies. It inspired their creators to build some of the artwork based on strong grounds and find out the rules to highlight their credibility.
Austrian Finance Ministry said last month to look at trading rules for gold and derivatives as inspiration for drawing regulations on Cryptocurrency.
Although policy makers often look at gold as potential vehicles for criminals or tax cheaters, they do not apply the capital of the principal capital: banks use it as a risk factor such as cash or government bonds.
Gold retail sales are exempted from VAT in EU, and traders do not have the capital and behavioral rules that stock and bond market their parent company.
Even the central bankers of Austria, cryptocurancitories, are at risk, warns that Vienna-based Bitpatra is expanding its connections with government organizations. The company sells Bitcoen voucher through state-owned postal service, saying that it has recently been linked to research by Austrian Academy of Sciences and Vienna's Technical University.
The absence of the rule of law seems to have not been in progress. Bitupdure retail brokerage will cross 1,000 billion euros this year, "Damemouth" and co-chief executive Paul Clanshak 31, said. The maximum amount of 600 million euros was managed by his place in the fourth quarter of the year.
Last month a London office opened, the average commission complained about 1.5%.
"Control should come from the EU level," said Klanschek, who has been investing in Bitcoin in 2010 and is studying the meaning of Economics University of Vienna.
National regulators will have a tough time finding expertise in cryptocrown holdings, he said