Tag: EU

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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Vinay Gupta, the release coordinator for Ethereum, recently gave a presentation to the European Parliament, one of the two legislative bodies of the European Union, to demonstrate the potential of Ethereum’s smart contract protocol in various industries and applications. Currently, governments across the world are looking to adopt blockchain technology to automate systems and securely process financial transactions. Most notably,…

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The European Union (EU) has decided to invest $540,000 in the formation of the EU Blockchain Observatory to formulate efficient regulations and policies for companies and startups leading blockchain development. In an official statement released on April 18, the EU stated that the budget would be used to fund the EU Blockchain Observatory for two years. During that period, EU…

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The United Kingdom has relied on its financial services industry to drive economic growth for decades. However, in light of the British population’s vote to leave the European Union and, thereby, potentially lose the access to the European Single Market, the UK’s status as Europe’s leading financial hub may wane. Is this for better or for worse regarding the crypto…

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On March 9, EU lawmakers published new draft legislation that covers the use of cryptocurrencies within the borders of the European Union. The proposal suggests changes and additions to the “Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing” that include regulating and overseeing electronic money transfer…

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The EU seems to open its mind to cryptocurrencies and the blockchain; Malta’s Prime Minister advises to double down on cryptocurrencies, while a report by the Parliament focuses on how blockchain could improve several key areas of economy and state. By now the EU usually has become the subject of cryptocurrency news for its planned regulation which mostly considers Bitcoin…

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