Tag Archives: European Union

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...

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...

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...

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...

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...

Bitcoin’s price has basically been on pause since mid-June, as the asset trades range-bound since then. The exchange rate of BTC to USD remained above $29,000, with resistance at $30,000. It’s as if markets are waiting on the SEC’s spot Bitcoin ETF approvals. In fact, one metric of bitcoin’s price stability touched five-year historic lows at the beginning of August. Weirdly, BTC was even less volatile than U.S. stocks briefly this month. But with each new application for a...

[unable to retrieve full-text content]CoinspeakerEU to Work with Japan on AI and Chip Supply Chain It is obvious that as the EU is retracting from China, it is also establishing several deep-rooted relationships with other countries in the area of technology.  EU to Work with Japan on AI and Chip Supply Chain

The European Systemic Risk Board (ESRB) published a report on Thursday outlining the top 3 nightmare scenarios in which a crypto industry crisis could bleed in and pose “systemic risk” to the broader financial system.  The top risk listed is a potential run on a “large reserve-backed stablecoin,” such as Tether (USDT) or USD Coin (USDC).  Crypto’s Connection to TradFi In its 77-page report, the ESRB argued that as the volatile crypto industry grows, so too does its connection...

Markets in Crypto Assets (MiCA) is being hailed as the world’s first comprehensive set of rules that aims to bring the largely unregulated cryptocurrency markets under government regulation. It is part of a broader digital finance package, aka ‘Digital Operational Resilience Act (DORA),’ which aims at protecting the financial services sector from fraudulent activities and is likely to become law in July 2023, setting the wheels in motion for the rules to take effect by...

Austrian cooperative banking company – Raiffeisenlandesbank Niederösterreich-Wien (RLB NÖ-Wien) – has partnered with Bitpanda to roll out crypto investment services through the latter’s software as a service (SaaS) offering. With this collaboration, RLB NÖ-Wien has become the first major traditional bank in the European Union to move into digital assets. The Partnership Alongside crypto investment, the Austrian company will also focus on the potential implementation of stocks...