Tag: EU

According to a September 5, 2018 report in Reuters, a new report prepared for the upcoming E.U. Finance ministers meeting recommends that the member state’s of the world’s largest free trade area should adopt a common set of rules on regulating cryptocurrencies. The report proposes a common framework to examine how new cryptocurrency tokens are distributed to investors and subsequently…

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ConsenSys has been building a global network of technology experts and entrepreneurs who are developing products for a decentralized world. The Brooklyn based blockchain software company was founded by Joseph Lubin in October 2014 and has since expanded its operations to several other countries with offices in London, Dublin, and Paris. ConsenSys in Paris Launched in October 2017, the team…

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While the European Union (EU) has taken more proactive steps to regulate the region’s cryptocurrency industry, the United States seems to be dragging its feet in the matter. Following Europe Now, a keen industry observer, Michael DuBose, the former chief of Computer Crime and Intellectual Property Section (CCIPS) at the U.S. Department of Justice, has urged the United States to…

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Strengthened EU rules to prevent money laundering and fight terrorism financing entered into force on July 9, 2018. What is this Directive exactly? The rules, gathered under the title the “Fifth Anti-Money Laundering Directive,” were first published in the EU’s Official Journal. The new regulations aim to bring more transparency on who the actual owners of companies are and to…

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While fraud seems present in every financial domain, the cryptocurrency sector attracts a lot of criminals in particular due to a lack of strict security practices and negligible regulation. The funds stolen are no child’s play either, as recent research suggests a staggering value. Cryptocurrency Crimes Surging According to estimates provided by the Anti-Phishing Working Group (APWG), cyber-criminals have infiltrated…

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While governments around the world debate over the legality of cryptocurrencies, Latvia has a simple solution to keep the industry running; Make it legal and charge high taxes. Additionally, the government is mulling over the introduction of clear regulations for digital currencies. Latvian Government Discusses Crypto In the first week of April 2018, Latvia’s Ministry of Finance expressed its views…

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The Agencia Estatal de Administración Tributaria (AEAT), more commonly known as the Agencia Tributaria, the tax agency of the Spanish government is set to take a hard-line stance on what it suspects to be tax evasion activities aided and abetted by cryptocurrencies. The move comes as yet another chapter in the growing Spanish narrative with regard to the market. Spain…

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A new set of regulations concerning data protection could have a negative impact on blockchain applications in the European Union (EU). One of the fundamental operational premises of most blockchain-based applications is in danger of being against a new European law on privacy. The record of transactions on most blockchains can be viewed by the network participants. These records are…

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After the clash between Spanish officials and Catalan over the weekend, the resultant rise in the price of bitcoin has left many debating whether the cryptocurrency could be used as a tool for financial liberation. The cryptocurrency gained in light of the events in Spain, serving as a safe haven for investors exposed to euro-denominated instruments and the European stock…

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The European Union (EU) has announced the creation of an international consortium that seeks to diminish the use of cryptocurrencies and the dark web by criminals. As evidenced in the recent WannaCry attack, criminals use the pseudo-anonymity provided by bitcoin to their advantage. This project aims to find ways to stop the use of cryptocurrencies as a means to evade…

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