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Austrian Minister of Digital and Economic Affairs, Margarete Schramböck, during the first ANON Blockchain Summit discussion panel in Vienna, Austria, expressed an opinion on regulation of the blockchain industry.

Austrian Minister of Digital and Economic Affairs Says There is No Need to Regulate Blockchain
Margarete Schramböck / Flickr

Schramböck pointed out that Europe has a strong tendency to overregulate so governments should not regulate blockchain in order to simplify business activity.

"We also do not regulate technologies such as machine learning or C ++," she added.

Furthermore, Schramböck highlighted that governments should build trust in technology and skills in order for everything to work properly.

Austria leads all EU countries with over 260 crypto ATMs or 6.4% of all ATMs in the world.

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