Posts in category

EU


The European Parliament has backed a move to bring closer regulation to cryptocurrencies such as bitcoin. The parliament’s members voted by a large majority on Thursday to support a December 2017 agreement with the European Council for measures aimed, in part, to prevent the use of cryptocurrencies in money laundering and terrorism financing. The parliament members passed the move …

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A group of 22 European nations has formed a new blockchain partnership aimed to exchange information on the technology. The countries, including the U.K., France, Germany, Norway, Spain and the Netherlands, signed a declaration on Tuesday establishing the new group, dubbed the European Blockchain Partnership, according to a release from the European Commission. The collaboration is aimed to …

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Coinbase is officially expanding digital money services in the U.K. and EU. The U.K.’s Financial Conduct Authority granted Coinbase an e-money license, the company announced Wednesday. The license now enables the company the ability to provide payment services and issue digital cash alternatives, which can then be used to make card, internet or phone payments. …

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Executives from the European Central Bank (ECB) and Bank of International Settlements (BIS) have said Bitcoin is “not the answer to the cashless economy,” in a statement released March 13. Writing in a commentary on a BIS report into so-called central bank digital currencies (CBDCs), Benoît Cœuré and Jacqueline Loh added that banks should improve …

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A new joint European banking report has poured cold water on the effectiveness of so-called central bank digital currencies (CBDCs). The report, submitted by two working groups under the auspices of the Bank for International Settlements (BIS) and European Central Bank (ECB), warns about the “adverse” effect of introducing a CBDC. It also advocates that …

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Andrea Enria, the chairperson of the European Banking Authority (EBA), said that it could be more efficient to prohibit banks and other financial institutions from holding and selling cryptocurrencies, than to directly regulate crypto, the Financial Times (FT) reported Friday, March 9. Enria’s remarks follow the recent movement toward cryptocurrency regulation in Europe. Yesterday, March …

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The European Commission released its anticipated official angle on regulating fintech, including Blockchain technology, across EU member states on Thursday, March 8. A press release outlining the ideas, which the Commission now refers to as an “Action Plan,” saw high-level EU officials voice the need for an “enabling framework” for innovative technologies going forward. Cointelegraph …

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The European Commission, the EU’s executive arm, is set to reveal plans for a joint regulatory effort on fintech, including Blockchain, Reuters reported Monday, March 5. A copy of a draft document seen by the publication, due for release “as soon as this week,” suggests a desire for EU regulators to adopt blanket rules governing …

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Liechtenstein lending institution Bank Frick now offers “direct investment” and cold storage of five cryptocurrencies, it announced in a press release Feb. 28, noting it is the “first” financial instituion in the country to do so. Aimed primarily at “professional market participants and financial intermediaries,” according to Frick, investment and storage is offered for Bitcoin, …

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Austria’s Finance Minister Hartwig Löger is considering basing cryptocurrency regulations on the trading rules already in place for gold and derivatives as a way to prevent crypto from being used in money laundering, Bloomberg reported Friday, Feb. 23. Löger spoke with Portugal’s Finance Minister Mario Centeno about his plans for pan-European Union crypto regulations on …

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French stock market regulator Autorite des Marches Financiers (AMF) released a statement Thursday, Feb. 22, that cryptocurrency derivatives must be regulated under the European Union’s new Jan. 2018 financial reforms. As derivatives cannot be legally advertised electronically, the AMF also states that online advertisements for cryptocurrency derivatives are not permitted. AMF refers to the new …

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A group of European Union regulators will meet next week to discuss the regulation of cryptocurrencies. Speaking to reporters on Tuesday, European Commission vice president Valdis Dombrovskis said that the meeting would involve representatives from central banks as well as the bloc’s market supervisors. Though unnamed, Dombrovskis said that “market players” would also be invited to …

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The European Supervisory Authorities (ESAs) has warned customers that cryptocurrencies are “highly risky” assets that show “clear signs of a pricing bubble” in a pan-European Union consumer warning released Monday, Feb. 12. The ESAs is made up of the European Securities and Markets Authority (ESMA), the European Banking Authority (EBA) and the European Insurance and …

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European Central Bank (ECB) executive board member Yves Mersch is coming out in support of comments made this week by Agustin Carstens, general manager of the Bank for International Settlements (BIS), in which he laid into bitcoin as a bubble, a Ponzi scheme and a threat to central banks. According to an FT report, Mersch …

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The Italian government is seeking feedback on proposed cryptocurrency regulations intended to clarify the technology’s use within the country. A summary of the proposed rules explains how service providers that accept cryptocurrencies would have to report their business and earnings to the Ministry of Economics and Finance, as well as what the government will do …

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The European Commission announced in a press release today, Feb. 1, the launch of the EU Blockchain Observatory and Forum in a major step aimed at “uniting” the economy around Blockchain. In the most hands-on step to leverage the promise of the technology to date for the EU, the project will bring together various sectors …

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A European Union commissioner plans to hold a meeting of public and private sector stakeholders to discuss the impact of cryptocurrencies on central banks. In remarks at a press conference for the Economic and Financial Affairs Council (ECOFIN) on Tuesday, Valdis Dombrovskis, the Vice President for the Euro and Social Dialogue, said he plans to …

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Tokyo-based crypto exchange bitFlyer was issued a Payment Institution license to operate in the European Union, the exchange reported Monday, Jan. 22. The license was granted to the exchange by the Luxembourg regulator, Commission de Surveillance du Secteur Financier (CSSF). BitFlyer, which entered the US market compliantly as of fall 2017, already operates in Japan …

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One of the three major questions that the President of the European Central Bank will be answering via a series of videos on Feb. 12, 2018 is about cryptocurrencies and Blockchain. Mario Draghi will respond to the selected questions, whether Bitcoin offers a viable alternative to traditional currencies as well as comment on the ECB’s …

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Expert Blog is Cointelegraph’s new series of articles by crypto industry leaders. It covers everything from Blockchain technology and cryptocurrencies to ICO regulation and investment analysis. If you want to become our guest author and get published on Cointelegraph, please send us an email at mike@cointelegraph.com. Larry Fink, CEO of the world’s largest asset management …

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