The players in the world of cryptocurrencies ask the European Union not to over-regulate the market. The request was made in a letter seen by Reuters and sent to the EU's 27 finance ministers on 13 April.

The European Union, like countries and jurisdictions around the world, is striving to tame a booming cryptocurrency industry. The EU is ahead of the US and Britain in drawing up a set of rules for this $2.1 trillion sector. Faced with this situation, more than 40 business leaders in the cryptocurrency sector have asked the European Union not to require cryptocurrency companies to disclose the details of their transactions and to mitigate attempts to bring decentralized financial platforms to heel, which are growing rapidly.

Thus, cryptocurrency companies have asked policymakers to ensure that their regulations do not go beyond the rules already in place under the Financial Action Task Force on Money Laundering (FATF), which sets standards for combating money laundering. These rules, which are opposed by the large US stock exchange Coinbase Global, would require cryptocurrency companies to collect and retain information about people involved in digital currency transfers.