#EU News

Germany: Finance Minister Says He Doesn’t Support Privately-Issued Cryptocurrencies

November 21, 2020 by Aisshwarya Tiwari at Regulation

The German Finance Minister is not the biggest fan of privately-issued cryptocurrencies. Private Cryptos Not Cool While cryptocurrencies in general continue to irk the financial regulators the world over, things are even worse when it comes to privately-issued digital currencies. According to a recent report by the Reuters, German Finance...

Privacy Coins, Wallets, and Market Places Are Top Threats to EU’s Security

October 6, 2020 by Dalmas Ngetich at News

An Internet Organized Crime Threat Assessment 2020 report on Oct 5 by Europol classifies actors using privacy coins, wallets, decentralized marketplaces, and related technologies as top threats. Europol: Privacy-focused technologies are Top threats The report by the European Union Law enforcement agency notes an increase in the use of privacy-enhancing cryptocurrencies and...

E.U. Securities Watchdog Studying ICOs “Case-by-case” to Take a Call on Regulation

EU Mulls Developing Exhaustive Regulatory Framework for Cryptocurrencies

September 25, 2020 by Aisshwarya Tiwari at Regulation

EU is taking cryptocurrencies seriously. EU Moves Ahead with Regulating Cryptocurrencies According to a Bloomberg article published on September 24, the European Union (EU) is moving ahead with its plan to regulate digital currencies to protect its financial markets without depriving citizens and companies of the new technologies. In a...

Leading Telecoms Firm Accelerating Blockchain Adoption in Europe

EU to Introduce New Blockchain Guidelines by 2024

September 19, 2020 by Adeniyi Olowoporoku at Regulation

The European Union are set to introduce new rules in the next four years that could introduce a single currency market that would make cross-border payments easier according to documents from a leak report. European Union Looking to Create a Legal Framework for Cashless Ecosystem According to Reuters, the two...

Report on Digital Euro Will be Published Soon, Says ECB President

September 11, 2020 by Shaurya Malwa at Regulation

European Central Bank (ECB) President Christine Lagarde said on September 10 that the bank will soon publish a report on a European digital currency, according to a report. A Digital Euro The hotly-anticipated consequences of the European Central Bank's examination into a digital euro will before long be delivered "in...

Issuing Stablecoins in the EU Set to Be More Difficult in a New Crypto Proposal

September 10, 2020 by Dalmas Ngetich at Regulation

As digital currencies take root, the EU plans to set up a body of watchdogs comprising national and European authorities to oversee what they term as “significant development in the crypto scene” as per a recent cryptocurrency draft proposal submitted to the European Commission, reports EURACTIV on Sep 10. The EU Cryptocurrency Draft...

TM Forum to Use IOTA Tangle to Gather Reliable Data

IOTA Foundation-Led Cost-Efficient Energy Trading Platform Is Now Business-Ready

September 10, 2020 by Dalmas Ngetich at Altcoins

The IOTA Foundation-led and EU-Funded project, CityxChange, is business-ready according to a research finding published by the European Commission on Sep 9. Innovation Radar to the European Commission: CityxChange is Business Ready The initiative which runs till October 2023 aims to create a “decentralized and cost-efficient energy trading platform” for a sustainable...

European Union (EU) Proposes the Creation of a Single Market for Trading Cryptocurrencies

August 20, 2020 by Dalmas Ngetich at Regulation

At the tail end of 2020, the European Union (EU) Commission should complete its work on digital finance and the results will be clearly defined crypto laws helping the sector flourish. Crypto is Here to Stay This is according to a report published by IFCReview on Aug 20, citing previous comments by...

IOTA (MIOTA) Playing an Active Role in EU’s CityxChange Project

August 6, 2020 by Ogwu Osaemezu Emmanuel at Altcoins

IOTA (MIOTA) a distributed ledger technology (DLT) and internet of things project (IoT) dedicated to bridging the gap between machines and the real world, is part of the innovative projects participating in the EUR 80 billion European Union research program dubbed the CityxChange project. The CityxChange project is part of...

Crypto Regulation: EU Proposes Novel Approach to Industry “Gray Areas”

April 13, 2020 by Osato Avan-Nomayo at Regulation

European Union (EU) lawmakers have released a report detailing possible approaches towards crypto regulations for some of the industry’s “gray areas,” which include mining, stablecoins, and token sales like initial coin offerings (ICOs). Europe Needs Special Crypto AML Taskforce In a report titled “Crypto-assets: Key developments, regulatory concerns, and responses,”...

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...

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...

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