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Tag Archives: European Union

European Central Bank: Digital Euro for Payments Only, Not Investment or Holding 

A digital Euro CBDC will be “designed for making payments, not for investment,” explained Ulrich Bindseil, Jürgen Schaaf, and Executive Board member Piero Cipollone in a blog post on Feb. 19. They added that many banks worry their customers might withdraw deposits to hold digital Euros instead. “These fears are misplaced,” they stated. The ECB is developing a digital Euro CBDC with legal tender status functioning as a digital payment solution for Europe. However, concerns are...

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EU Drafts Paper Regarding Exceptions to MiCA Regulation

Last year, the European Union unanimously voted for the Markets in Crypto Assets (MiCA) bill, considered by most to be the first comprehensive piece of legislation addressing the crypto industry as a whole. MiCA is, in itself, part of a larger set of financial laws known as DORA – but it has also given many crypto companies a reason to consider moving the bulk of their operations across the ocean. Several Adjustments to The Bill Although MiCA was published back in June 2023,...

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European Brokers Cut Fees on Spot Bitcoin ETFs to Outpace US Providers: FT

According to the Financial Times, European brokers are slashing spot Bitcoin ETF fees after Invesco and WisdomTree reduced theirs by over 60% on European BTC products. The decision comes as the U.S. Securities and Exchange Commission (SEC) recently approved spot Bitcoin ETFs from major players like BlackRock, Fidelity, and Invesco, resulting in an influx of new investment options for U.S. investors. Fee Wars Move to the European Market Gary Buxton, Invesco’s Head of ETFs for...

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EU Tightens Regulations Regarding Crypto Transactions, Citing AML Concerns

The EU Parliament and Council recently reached a provisional agreement on a list of anti-money laundering and anti-terrorist financing laws. Although further deliberation on other proposed measures is yet to be had, the new measures will help streamline the efforts of the national financial agencies of EU countries in this area. Although cryptocurrencies are not the main focus of the new laws, the industry is nonetheless explicitly targeted by several of the provisions....

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What You Need to Know About Robinhood’s New Crypto App in Europe

In a strategic move, the popular online brokerage platform Robinhood has announced the launch of its cryptocurrency trading feature in Europe. The platform has intentions to expand its range of tokens and introduce additional features, such as cryptocurrency transfers, staking, and educational rewards, in the year 2024. This development follows Robinhood’s recent expansion plans beyond the United States. Robinhood Launches Crypto Trading App Robinhood’s latest crypto product...

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Major Bank to Launch Crypto Trading Services for Retail Customers: Report

Austria’s Raiffeisen Bank International announced its plan to offer cryptocurrency trading services to its retail customers. This pioneering step will commence by the end of January 2024, marking a new era in the bank’s 97-year history. Raiffeisen Bank to Launch User-Friendly Crypto Trading Services Austria’s Raiffeisen Bank, headquartered in Vienna, has announced its plan to offer crypto trading services to its retail customers throughout the European Union and Eastern...

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European Central Bank Moves Forward on CBDC Project After Concluding 2-Year Research Phase

On October 18, the ECB Governing Council stated that it had decided to move to the next phase of the digital euro project. The move into the preparation phase for a potential European CBDC follows the completion of a two-year investigation phase. The preparation stage will start on November 1 and will initially last two years. It will involve finalizing the digital euro rulebook, selecting technology providers, and testing. Our Governing Council has decided to move to the...

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Crypto Companies Eye European Expansion While Some Plan to Make an Exit

The cryptocurrency industry is transforming significantly due to heightened government regulations, particularly in the United States. Many US-based crypto companies, especially exchanges, are considering strategies to shift their operations abroad, which includes exploring new markets and contemplating relocating entirely out of the country. In contrast, Europe has become an attractive destination for crypto firms seeking a more favorable regulatory environment. Several...

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EU Central Banks Facing Triple Dilemma amid Growing Inflation

Central Banks around the world are grappling with the difficult task of managing excessive inflation while maintaining economic development. In recent times, Central Banks in the European Union (EU) are facing a triple dilemma that demands delicate balancing acts and strategic decisions following persistent high inflation that is threatening to cripple the economy. The Triple Dilemma Carsten Brzeski, the Global Head of Macro at Dutch bank ING, succinctly sums up the challenge facing...

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Europol Hails Blockchain’s Unbeatable Independence and Security, Slams DeFi for Soaring Criminal Activity

In what’s described as a rapidly evolving landscape of financial and economic crimes threatening the internal security of the European Union, Europol has applauded the independence and protection offered by blockchain technology. Europol has also raised concerns over the rising criminal activity within decentralized finance (DeFi). Europol Warns of Rising Criminal Activity in DeFi and NFT Space Europol, the European Union Agency for Law Enforcement Cooperation, recently...

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