#EU News

Crypto Exchanges Facing Greater Compliance Costs as AMLD5 Comes into Effect

January 13, 2020 by Osato Avan-Nomayo at Bitcoin

With the European Union (EU) member states adopting the Fifth Anti-Money Laundering Directive (AMLD5), crypto exchanges in the region could see their compliance costs rise significantly. Meanwhile, financial regulators in the U.K. have moved to directly oversee AML compliance for cryptocurrency exchange platforms. More Compliance Costs Incoming for Crypto Exchanges...

Germany: Central Bank Urges Europe To Strengthen Banking System Over CBDC Route

January 3, 2020 by Ashwath Balakrishnan at News

Jan Weidmann, the President of the Bundesbank, holds some very unique thoughts on the topic of money, digitization, and the network effect of payment services. Speaking with Handelsblatt, he offers his perspective on opposing Libra, which is centered around a market-oriented approach rather than endorsing the launch of a state-backed competitor such...

Europe: Banks May Hold and Sell Bitcoin Starting From 2020

November 29, 2019 by Edoardo Vecchio at Bitcoin

According to a new bill on the Fourth Money Laundering Directive drafted by the European Union (EU), banks could be authorized to offer digital assets services including storage for customers. Germany would likely be the first nation to adopt the proposal. According to a German news report published on November...

A coin looking pretty stable on some rocks

Euro Regulators Urge Central Bank to Issue Regulated Digital Currency as Stablecoin Threat Looms

November 6, 2019 by Ashwath Balakrishnan at Bitcoin

Regulators in Europe have called on the European Central Bank (ECB) to explore the feasibility of launching a digital currency for the bloc. Supranational agencies and governments, alike, have labeled stablecoins - especially Libra - a potential menace to financial stability. As per documents seen by Reuters, the proposed draft...

Leading Telecoms Firm Accelerating Blockchain Adoption in Europe

EU Financial Services Chief Hints at Broad Cryptoasset Regulation

October 10, 2019 by Ashwath Balakrishnan at Bitcoin

During a parliamentary confirmation hearing, the European Commissioner for Financial Stability and Financial Services, Valdis Dombrovskis, said that the E.U. is planning to regulate cryptoassets following the unanticipated wake-up call from Libra. Bloomberg reports that Libra has shocked global regulators into action, and the E.U. is determined not to be left...

The EU Needs to Launch a Cryptocurrency, Says deVere CEO Nigel Green

October 3, 2019 by Osato Avan-Nomayo at Altcoins

Nigel Green, CEO of deVere Group — a global financial advisory company, says the European Union needs to seriously consider cryptocurrency adoption per a report by IT-Online. Meanwhile, banking giants across the globe are beginning to shift from an anti-crypto stance towards developing their own blockchain-based business solutions. The EU...

Magnifying Glass Cracking the Libra Coin

EU Investigating Facebooks Libra Cryptocurrency From Anti-Trust Angle

August 21, 2019 by Ashwath Balakrishnan at Altcoins

The European Commission, an executive branch of the EU, has initiated their inquiry into Libra's ability to suppress rivals and create a financial monopoly. Reports from Bloomberg, August 21, 2019, confirm that the European Commission is scrutinizing the consortium of companies involved with Libra. Visa, MasterCard, Facebook, and the Commission have declined Bloomberg's request...

German Crypto Blockchain in an electric crystal ball

Europe May not Need Bitcoin to Circumvent U.S. Sanctions

July 14, 2019 by Liam J Kelly at Bitcoin

The Trump administration has been responsible for the recent wave of economic sanctions placed on several countries. The most notable on this list has been Iran. The two country’s tense history around the accumulation of resources needed for atomic weapons has also added an element of global concern. But as...

Victims of Crypto Crimes Demand $10 Billion Compensation from the EU

June 4, 2019 by Ashwath Balakrishnan at Regulation

Victims of cryptocurrency frauds and scams from over 30 countries have filed a joint lawsuit under Dr. Jonathan Levy of Berlad Graham LLP. The cumulative loss for all parties amounts to $16.8 million, yet the primary claim is a $10 billion compensation fund for victims of such attacks, as reported...

European Bitcoin Brokerage Bitpanda Receives EU Payment Service Provider License

April 7, 2019 by Osato Avan-Nomayo at Bitcoin, Business, Finance, News, Regulation

Bitpanda, the Vienna-based Bitcoin broker, has received the Payments Services Directive 2 (PSD2) license from Austrian financial regulators in accordance with European law. The license allows the company to offer more financial products and services that bridge the gap between the emerging digital assets landscape and mainstream financial markets. Austrian...

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