October 7, 2020

European legislative proposal for crypto investment

The European Commission has made a legislative proposal to regulate investment in crypt currencies. In the proposal, crypt currencies fall into the same category as securities and precious metals. What does this mean for BOTS?

The BOTS app | Bill investing with crypto
The BOTS app | Bill investing with crypto

Crypt Currency Investment Bill

Last week, the European Commission presented a legislative proposal regarding crypt currency. The rumors had been going on for a long time, but now finally there was the press release.

The proposal is called DORA (Digital Operational Resillience Act) and aims to create the right market conditions. This will allow the EU to take full advantage of the opportunities offered by crypt currencies and at the same time limit the risks associated with investing in crypt currencies.

What does DORA mean for investing with BOTS?

The bill stipulates that every provider of a wallet must actually have a physical presence in Europe. In addition, the provider will also have to obtain permission from the national authorities.

One of the most important requirements within the bill is that investing in crypt currency must be secure. Within BOTS also one of the most important themes. Investing via the BOTS app is safe. Because you are the owner, no one else has access to your funds and cash flows, for example.

Another part of the new legislative proposal concerns consumer protection. In short, it is about everyone being able to identify themselves and that every transaction must be traceable back to a person. In this way, the EU tries to prevent insider trading and market manipulation.

Trade with BOTS

Although the proposal has not yet been adopted, and may therefore still change in theory, we at BOTS expect that crypt currency will increasingly be accepted and integrated with other financial products. A positive development.

The Federal Reserve has already made a digital dollar. They too see digital "money" as the future. Regulation of this is inevitable and desperately needed.

Investing is for everyone

Everyone should be able to invest. And now they can. With BOTS. Together we are going to make the world of investment fairer and more transparent. Are you interested, but your question hasn't been answered yet? Take a look at the FAQs on our site. Or contact us, we will be happy to explain it to you in person.

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There is no such thing as risk-free trading. It is possible to lose (part of) your stake.