european union
European Union Parliament Considers Petition for Crypto Fraud Victims Fund
European Union Parliament is considering a petition from a consortium of individuals and companies to establish a restitution fund for victims of crypto-fraud.
Ethereum Dominates European Blockchain Startup Scene
LeadBlock Partners, a European Venture Capital fund that invests in early-stage B2B Blockchain solutions, has announced that Ethereum is a prominent gamechanger among all the European blockchain startups.
European Securities and Markets Authority Prioritizes Crypto-Related Regulation
The European Securities and Markets Authority (ESMA) announced its key priorities list for 2020-2022. In its published document “Strategic Orientation for 2020-22,” the ESMA reflected its focus on supervisory convergence and its role in building the Capital Markets Union.
Apple Faces Major Complaint for Tracking Code that Allegedly Violates EU Privacy Regulations
A complaint that alleges that Apple’s Identifier for Advertisers code (IDFA) is a privacy breach going against European laws has been filed.
EU's ESMA Wants Public Input on Proposed DLT Regulation
The European Union’s Securities and Markets Authority has called on concerned market stakeholders to comment on its proposed regulation for the use of Distributed Ledger Technology in securities trading and settlement.
Breaking: Binance Sells Russian Operations to CommEX, Exits Market
Binance has announced the sale of its entire Russia business to CommEX, citing compliance issues as the primary reason for the exit. The transition process for existing Russian users is expected to take up to one year, with no financial strings attached to the deal for Binance.
EU to Regulate AI Use of Copyrighted Material
The European Union has passed a draft bill to regulate AI use of copyrighted materials. AI tools will be classified according to their risk level, with high-risk tools subjected to stricter transparency procedures. The bill is part of the EU's Artificial Intelligence Act and aims to strike a balance between protecting citizens and fostering innovation.
Decline in Cryptocurrency ATMs in 2023: A Global Perspective
In 2023, the global number of Bitcoin ATMs decreased by 11.1%, marking the first decline in a decade, with the U.S. being the largest host, contrasting with growth in the EU and other regions.
EU Imposes 8th Wave Sanctions over Russia to Include Blanket Crypto Ban
The European Union (EU) has updated its sanction on Russia, the 8th package, and this time, it unveils zero tolerance for crypto-related transactions.
ECB to Announce by Mid-2021 Whether It Will Move Forward with CBDC Issuance
European Central Bank (ECB) President Christine Lagarde said that a decision on whether or not to launch a CBDC will be made by the middle of this year.
Greece Establishes High-Level Advisory Committee for Artificial Intelligence Strategy
Greek Prime Minister Kyriakos Mitsotakis announced the formation of a High-Level Advisory Committee for AI on October 19, 2023. Led by MIT Professor Constantinos Daskalakis, the committee aims to prepare Greece for the rapid advancements in AI and their applications. The committee will focus on long-term national strategy, including policy development and guidelines, in key areas such as economy, society, and innovation.
European Union Introduces Comprehensive Crypto Law
The European Union has introduced a new crypto licensing regime called Markets in Crypto-Assets (MiCA), making it the first major jurisdiction in the world to introduce a comprehensive crypto law. The EU also voted in favor of a Transfer of Funds regulation that requires crypto operators to identify their customers in a bid to halt money laundering.
Dutch Government Invests Heavily in AI to Compete Globally
The Dutch government has allocated €204.5 million ($222.07 million) for AI development, signaling a robust commitment to advancing the Netherlands' position in the global AI landscape and adhering to the EU's AI Act.
Google Assistant to Integrate Bard AI for Enhanced Capabilities
Google Assistant is set to integrate with Google's Bard AI to offer enhanced functionalities. The integration will allow Google Assistant to perform complex tasks like planning vacations and sorting emails. Although the feature is still under testing, it marks Google's aggressive efforts to compete in the AI space.
G20 Lays Regulatory Foundation to Accept Digital Payments by November Summit
G20 officials have announced that they will begin the preliminary regulatory groundwork for the group to accept digital payments.
Bitstamp acquires a Spanish crypto licence
Bitstamp has been focusing on the European Union market since its launch in 2011. The approval from the Bank of Spain lets Bitstamp's local subsidiary offer digital currency exchange services for fiat currency and electronic wallet custody services to Spanish users. By this fall, the country became home to the third-largest network of Bitcoin and cryptocurrency ATMs after the United States and Canada.
EU Plans to Bar Interest Payments on Deposits in Stablecoins
Patrick Hansen, the head of Strategy at DeFi startup, Unstoppable Finance, said the expected MiCA bill could come as early as this month’s ending.
Ethics of Web3 Discussed at Paris Blockchain Week
The second day of Paris Blockchain Week 2023 featured a panel discussion on the Ethics of Web3. The panelists agreed that ethical frameworks often lag behind technology and that innovation comes before any ethical standards are implemented. They highlighted the upcoming Markets in Crypto-Assets framework in the European Union as an example of turning ethics into law to protect people and innovation.
ECB to Meet the Growing Demand for Digital Payments with a CBDC Digital Euro
President of the ECB Christine Lagarde broached the topic of CBDC issuance and why the bank was seriously considering the creation of a digital euro.
European Investment Bank to Harness Blockchain Technology for Bond Sale
The European Investment Bank (EIB) intends to deploy blockchain technology for selling bonds.
Swedish Central Bank Delays CBDC Plans Again
The world’s oldest Central Bank, Sweden’s Riksbank, published results of its pilot project for its proposed central bank digital currency, the e-krona.
The European Commission Announces the Launch of the European Blockchain Regulatory Sandbox
The European Blockchain Regulatory Sandbox helps 20 projects each year obtain legal and regulatory support from the European Commission.
EU Proposes Cap on Anonymous Crypto Transfers
The European Union is proposing a 1,000 euro cap on anonymous crypto transfers to combat money laundering and terrorist financing. The limit would apply to transfers when a customer cannot be identified, and the proposal also caps cash transactions at 7,000 euros. The Anti-Money Laundering and Countering the Financing of Terrorism package is expected to be confirmed in April.
EU Agreement on MiCA May Not Favor Stablecoins
After much deliberation and compromises from the European Commission, Assembly, and Council, a final agreement that builds the comprehensive framework for the digital currency ecosystem has finally been made
Banks Holding Cryptocurrencies Face Strict New Regulations in European Parliament
The European Parliament must approve a new crypto exposure policy for banks.
European Central Bank Assesses Potential Digital Euro CBDC Issuance
The European Central Bank (ECB) evaluated whether a digital euro would be a beneficial addition to its financial system through an October report.
European Parliament Ratifies MiCA Framework in Landslide Vote
The long-awaited Markets in Crypto Assets (MiCA) regulation has just scaled through the European Parliament as MPs voted massively in favour of the bill.l
Three EU Regulators Warn Crypto Investors of Potential Losses
Three European Union regulators have warned investors of the potential loss in the digital currency ecosystem.
European Central Bank President: Coronavirus Has Accelerated Digital Currency Adoption
COVID-19 has led to an acceleration in digital payments adoption and technological innovation, as seen by the spending pattern of European citizens.
EU’s Move to Bypass Encryption on Platforms like WhatsApp Sparks Indignation
European Union lawmakers have created a draft proposal that aims to circumvent end-to-end encryption, in a move to increase cybersecurity.
Five EU Member States Take Position Against Stablecoins
Five members of the 27-member European Union Bloc has urged the body to pass regulations to stiffen the emergence and existence of stablecoins in the region
Leaked EU Commission Draft on Crypto Assets Law: How Will Cryptocurrency be Regulated?
A leaked European Union legislative draft on digital assets reveals the country's plans for cryptocurrency trading and issuance across the nation.
Bank of Lithuania Calls For Uniform Regulation for Digital Financial Innovation Across Europe
Bank of Lithuania, Lietuvos Bankas, has proposed uniform regulations throughout the European Union in response to the European Commission’s consultations for the development of the digitalization of financial services in Europe.
China and EU Trade Talks Included the Potential Cooperation of Central Bank Digital Currencies
The European Union and China recently had trade and economic discussions regarding topics including central bank digital currencies (CBDC) and supply chain.
European Commission Blockchain Report: The 3 Key Takeaways
Since the inception of Bitcoin, much hype and public attention have followed the development of cryptocurrencies their value being dismissed by many while others have become hoarders of crypto. Away from the uncertainty of cryptocurrency future value, one aspect of the technology is now squarely in the limelight—the blockchain platform or distributed ledger technology that make the currencies possible.
Brexit Border Issues Solved by Blockchain? The EU Has Doubts
ELAND, a consortium of border security professionals, IoT experts, and haulage industry professionals, have come together with a plan to use blockchain technology to track cross-border trade after the United Kingdom leaves the European Union.
Most European Regulators Have Scrutinized Facebook's Libra, Except One: Who’s the Odd One Out?
Made up of more than two dozen companies and based in Geneva, a few of the founding members, including PayPal, Mastercard, Visa, Stripe, Booking Holdings, and eBay, decided to leave the Libra project. A five-member board governance board was formed after the Libra Association reaffirmed its commitment by holding its inaugural meeting in Geneva, Switzerland, on Oct. 14.