Last Wednesday a petition was formally sent to the European Union parliament to have the body consider the option of establishing a ‘Crypto Assets Fund’ for those who have fallen victim to a cryptocurrency-related crimes and/or theft.

Jonathan Levy, lawyer and creator of the petition, is representing clients who together have lost a total over €50 million, and is supported by class representatives of the individuals adversely affected by the high-profile Bitsane exit scam.

“Every day $100 billion in unregulated cryptocurrency transactions take place. Much of that activity involves organized crime and represents the largest transfer of wealth to criminals since the Second World War. Billions of dollars have been siphoned from victims of criminals schemes. Our goal is nothing less than the establishment of a Cryptocurrency Security Fund to compensate victims.” - Jonathan Levy

According to Levy’s petition, he and his clients wish for the EU to implement a .0001 cent per euro fee on all cryptocurrency transactions within the union in order to generate a pool of funds to aid victims of related crimes.

To date, the petition has generated 46 supporters. The EU Parliament has yet to discuss the matter, or provide an official response.