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Europe


Martin Lewis, a British personal finance guru, is suing Facebook for allowing scammers, including some promoting cryptocurrency schemes, to use his likeness in advertisements on the platform. Lewis is the founder of the MoneySavingExpert blog, and his name and face well known following his years of writing and many TV appearances. In a post to …

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Andrea Tinianow, Esq. is chief innovation officer at Global Kompass Strategies and was, until January, head of the Delaware Blockchain Initiative. David Adlerstein is a corporate attorney at Wachtell, Lipton, Rosen & Katz.   The views expressed in this article are solely those of the authors. Over many decades, the State of Delaware has established …

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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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The EU nation of Malta is moving closer to introducing a test that would clearly define when assets derived from initial coin offerings (ICOs) are securities. In a consultation paper published Friday, for which it is currently seeking public feedback, the Malta Financial Services Authority (FSA) set out a proposal for a so-called Financial Instrument Test, …

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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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The Bank of England, the U.K.’s central banking authority, is developing a proof-of-concept (PoC) examining how to maintain privacy over a distributed ledger-based network while still allowing a regulatory overview of the data. Partnering for the project with Chain, a blockchain startup that develops infrastructure protocols, the Bank of England released a paper on Wednesday setting …

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Cryptojacking – the act of hijacking a user’s computer to mine cryptocurrencies – is likely to “become a regular source of income for website owners,” the British government’s communications division warned Tuesday. The U.K.’s National Cyber Security Centre, the technology wing of the Government Communications Headquarters, highlighted cryptojacking as a “significant” concern in its latest …

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The U.K.’s financial watchdog has warned that companies offering services around cryptocurrency derivatives “likely” need to be authorized by the agency. In a statement posted to its website Friday, the Financial Conduct Authority (FCA), said that although it doesn’t consider cryptocurrencies to be currencies or commodities for regulatory purposes, cryptocurrency derivatives may be financial instruments under current directives. …

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Spanish tax authorities have sent requests for information on cryptocurrency investors to over 60 companies, a source at the country’s tax agency confirmed to CoinDesk following reports in local media. According to the source, authorities have contacted 16 banks, around a dozen cryptocurrency exchanges and companies operating cryptocurrency ATMs and more than 40 businesses that …

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Blockchain technology is driving economic transformation and Liechtenstein wants to be in the front seat, according to the country’s prime minister. As such, the Liechtenstein government has set out to create “sensible,” comprehensive blockchain legislation to create a legal environment that’s conducive to innovation and light on regulation. While other nations have steadily introduced blockchain …

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David Deputy is the director of strategic development and emerging markets and George Salis is a principal senior tax economist at Vertex, a tax software firm.  The following article is an exclusive contribution to CoinDesk’s Crypto and Taxes 2018 series. Currency has three primary functions: a store of wealth, a unit of account and a means of …

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The Malta Gaming Authority (MGA) has published proposed guidance on using distributed ledger technology and cryptocurrencies within the nation’s online gaming space. The document – which is currently open for feedback – explains the need to protect consumers, prevent money laundering and other crimes and protect Malta’s reputation, saying the criteria set out in the …

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The U.K.’s financial regulator has issued a warning to investors over an unregistered brokerage firm that appears to be offering cryptocurrency-related derivatives in the country. In a statement Thursday, the Financial Conduct Authority took aim at a firm called Olsson Capital, which, according to the regulator, is based in Sofia, Bulgaria. “This firm is not …

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Enquiries around blockchain, cryptocurrency and initial coin offerings (ICOs) in Switzerland have increased significantly last year, according the country’s financial regulator. In its annual report for 2017, published Tuesday, the Swiss Financial Market Supervisory Authority (FINMA) said that, out of the 453 fintech enquiries it received last year, 60 percent of them (271 cases) were focused on blockchain, …

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The European Securities and Markets Authority (ESMA) has toughened its stance on cryptocurrency derivative contracts. In an announcement Tuesday, the EU markets watchdog said it has agreed to temporarily adjust the leverage limit for cryptocurrency-related “contracts for difference” (CFD) products to 2:1 – a move that will require retail investors to initially pay at least …

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The U.K.’s City Minister, John Glen, told reporters at the Treasury’s International Fintech conference on Thursday that “proportionate” regulations could give the local cryptocurrency industry a significant boost. In his comments, Glen said the government is still “engaged in trying to find the right narrative and the right level of regulation if that’s appropriate,” according …

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Ireland’s Department of Finance has proposed the creation of a new blockchain working group to help create cohesive regulation across government agencies. Revealed in a new report, titled “Virtual Currencies And Blockchain Technology,” the working group would aim to help bring a coordinated approach to rules around cryptocurrencies and monitor developments in blockchain technology, “addressing considerations raised …

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U.K. Chancellor of the Exchequer Philip Hammond is expected to announce a government “crypto assets task force”  and a host of other fintech initiatives on Thursday. According to a statement from the office of the Treasury, Hammond will reveal the task force, which will include the Bank of England and the Financial Conduct Authority in …

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Bitcoin futures may have been launched with tremendous fanfare – XRP futures, on the other hand, not so much. But in fact, U.K.-based startup Crypto Facilities has been operating a futures market for the world’s third-largest cryptocurrency, developed by blockchain startup Ripple Inc., for almost 18 months now. And while the company’s CEO Timo Schlaefer has been …

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The Russia Federation is inching closer to deciding on a law covering initial coin offerings (ICO) and the trading of crypto tokens within the country. According to a report by Russian news agency RIA on Monday, Russian deputy finance minister Alexei Moiseev said that a jurisdictional disagreement between the Bank of Russia and the Finance Ministry over …

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