We ask for clarity in the agency's interpretetion of the rule and suggest that cryptocurrencies that are commodities, like Bitcoin and Ethereum, should be treated the same as other commodities, like gold.
Our comments on ESMA’s conclusion that “open” or “permissionless” blockchains may be inappropriate for financial services in its discussion paper entitled, “The Distributed Ledger Technology Applied to Securities Markets.”
Submitted on behalf of Coin Center, The Center for Democracy and Technology, and TechFreedom.
October 14, 2014
Based in Washington, D.C., Coin Center is the leading non-profit research and advocacy center focused on the public policy issues facing cryptocurrency and decentralized computing technologies like Bitcoin and Ethereum. Our mission is to build a better understanding of these technologies and to promote a regulatory climate that preserves the freedom to innovate using permissionless blockchain technologies.