Cryptocurrency mining is perfectly legal in Europe and only subject to standard electricity rules, according to an EU commissioner.
The finance minister of the Netherlands has called for new regulations around cryptocurrencies and initial coin offerings.
The European Union initiative launched Thursday will fund up to $425 million in blockchain projects and draw on ConsenSys' expertise and connections.
A European Union commissioner plans to hold a meeting of public and private sector stakeholders to discuss the impact of cryptocurrencies.
The report by venture capital firm Atomico also found that more than a third of all ICOs were based in the EU.
The European Commission (EC) is launching a study aimed to assess the potential of an EU-wide blockchain infrastructure.
The European Commission launched its "Blockchain for Social Good" contest Thursday, announcing a €5 million prize for the winner.
The European Commission has announced €30 billion on new investments in technology initiatives including those involving blockchain.
As many as four blockchain-related amendments, funding various initiatives, could find their way into the European Union's 2018 budget.