EU Observer:
It is too early to regulate the so-called block chain technology that underpins virtual currency Bitcoin, the European Securities and Markets Authority (ESMA) said on Tuesday. “At this stage, it is premature to fully assess the changes that the technology could bring and the regulatory response that may be needed,” ESMA said. It added that the new technology may benefit the financial sector by reducing costs and increasing efficiency.
Translated: We want to make sure people are used to rely on Bitcoin first, so that they don’t switch to something else when we whack the privacy-eliminating legislation to it.