Brussels, Belgium—The European Union seeks to reach an agreement over cryptocurrency regulation.

EU financial regulators and finance ministers have been monitoring and discussing the steady growth of crypto assets with some concern.  Now, they are pushing toward an agreement on how to regulate the emerging market.

“Currently there is a diversity of approaches, but at some point, we need to forge an approach,” said an EU official following another inconclusive meeting.

It is the lack of transparency that worries EU decision-makers and regulators the most. Money-laundering is on the rise on the Continent. Russian oligarchs, particularly, are suspected of manipulating the fluid crypto assets market to their advantage.