Icelandic regulator approves startups to provide legal currency payment services on the blockchain

According to Coindesk, the Icelandic Financial Supervisory Authority (FME) approved Monerium, based in Reykjavik, the capital of Iceland, to become its first e-money institution. This decision means that Monerium has been approved by the regulatory authorities to provide legal currency payment services on the blockchain and to use it throughout the Eurozone. Sveinn Valfells, CEO and co-founder of Monerium, explained that e-money is a mature regulatory framework in Europe that has been in use for many years. However, this is the first time electronic money has been approved for use on the blockchain.