Europol’s European Cyber crime Centre (EC3) recently organized the “4th Virtual Currencies Conference,” hosted at the Europol’s headquarters in The Hague. EC3 was set up in 2013 as the EU’s cyber crime specialist unit to help law enforcement respond to cyber attacks.
Other discussions to prior topics were added on their agenda as the agency’s announcement “Another interesting topic covered was the legitimate use of Bitcoin technology, including the use of cryptocurrencies as a store of value, and as a payment method for legitimate goods and services.”Many Bitcoin companies were chosen to attend because they specialize in “facilitating the lawful use of virtual currencies by providing online exchange, payment processing or wallet services, including: Bitcoin.de, Bitfinex, Bitpanda, Bitonic, Bitstamp, Bitpay, Coinbase, Cubits, Localbitcoins, Spectrocoin and Xapo.
Meanwhile the EU has done significant research on Bitcoin as a store of value and has found that Bitcoin has increasingly gained more acceptance as a store of value.The event, which took place on June 22 and 23 of 2017 aimed “to further strengthen the fight against the abuse of virtual currencies for criminal transactions and money laundering.” This was also the same theme of the 3rd Virtual Currencies Conference which took place on July 14-15 last year.
In addition, the report detailed “With digital currencies becoming more popular as a medium of exchange and also as a store of value, various asset substitutions take place. Households will reduce their cash holdings as they will start to make some payments with the digital currency.”