Posts in category

Europe


Ukrainian authorities have arrested four individuals suspected of running fake cryptocurrency exchanges, the nation’s federal police force announced Saturday. The National Police of Ukraine claimed in a press release that the suspects were arrested for operating as many as six fraudulent cryptocurrency exchange platforms. Cybercrime officials are still looking at the sites to establish how …

0 37

Felix Hufeld, chief of Germany’s financial watchdog, has said blockchain technology is “revolutionary” and its applications could turn the entire financial sector “upside down.” Hufeld, who is president of the German Financial Supervisory Authority (BaFin), made the remarks during a speech at an event in Berlin last week in which he described the regulator’s thinking …

0 37

The U.K.’s Financial Conduct Authority (FCA) has written to bank CEOs over the potential risks they face when dealing with cryptocurrencies. As the British regulator for around 58,000 financial services firms and financial markets in the U.K., the FCA has issued formal warnings before on the risks of investing in cryptocurrencies. In this latest warning, the …

0 37

Lithuania’s Ministry of Finance has issued guidelines on initial coin offerings (ICOs), outlining when cryptographic tokens would be viewed as securities and how each aspect of a token sale should be regulated by different laws in the country. According to the document published Friday, a defining feature in the recommended framework is whether a token “grants profits …

0 38

A city court in St. Petersburg, Russia, has overturned a decision made by a district court in 2016 that effectively blocked cryptocurrency media site bitcoininfo.ru for the country’s inhabitants. The decision came about after the court received an order from Russia’s Supreme Court in April to review the case, as previously reported by CoinDesk. “The …

0 37

Catalonia is continuing to test the boundaries of centralized power in Spain, this time with the help of decentralizing blockchain technology. Despite the police crackdown that followed last October’s failed bid for independence, the Catalan Government plans to airdrop an energy trading token to people in the northeastern Spanish region. The plan is to incentivize …

0 36

Amateur cryptocurrency investors in France are currently stung heavily when it comes to tax day, but that is about to change, reports indicate. The French Council of State, the body that advises the government on legal matters and acts as the supreme court for administrative matters, announced Thursday that profits arising from cryptocurrency sales should …

0 38

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 …

0 36

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 …

0 38

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 …

0 42

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, …

0 38

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 …

0 38

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 …

0 35

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 …

0 36

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. …

0 41

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 …

0 39

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 …

0 38

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 …

0 39

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 …

0 43

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 …

0 37