Cryptocurrency Refulation Part of Plan Greek PM Says

The Greek Prime Minister, Kyriakos Mitsotakis addressed his cabinet earlier on Friday morning, during which he focused on his government’s attempts to regulate cryptocurrency.

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Dubbing the cryptocurrency market “dubious”, Mitsotakis said the relevant Ministries would focus their efforts on the cryptocurrency field. “We aim to bring order to a largely ambiguous and unregulated domain,” he stated.

He clarified that while he wanted to avoid “demonizing” a rapidly growing market, “we [government] are committed to establishing rules to protect the public, including safeguards for informed decisions and warnings about the significant risks associated with these types of investments.”

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Mitsotakis continued, “We are aligning the national framework with European standards, especially regarding abusive practices prevalent in this environment. It is easy for rumors of quick and easy profits to circulate, but a responsible state has a duty to warn its citizens and investors—particularly small investors—of the dangers posed by various innovative tools that emerge from time to time, which even those directly involved often do not fully understand.”

Regarding the draft law aimed at strengthening the capital market, the Greek Prime Minister emphasized:

“We will have the opportunity to discuss a bill from the Ministry of Finance that bolsters the capital market, a vital tool for the growth of the private economy. We are particularly focused on establishing additional incentives, especially for companies entering the stock exchange, with an emphasis on small and medium-sized enterprises (SMEs). It is crucial for dynamic Greek businesses to gain access to new financing channels, thereby supporting the overall developmental momentum of the economy.”