Tag Archives: European Union

The European Union today voted in favor of outlawing all anonymous crypto transactions – including from self-hosted wallets – facilitated through exchanges. This rule will apply to transactions of any size, meaning both payers and recipients of even the smallest digital asset payment must be identified. The Partisan Vote The law comes as part of a package of anti-money laundering revisions to the EU’s Transfer of Funds Regulation (TFR). It brings rules applying to...

There’s been a lot of discussion surrounding EU’s proposed MiCA regulations, especially the text that was aimed at outlawing proof-of-work cryptocurrencies like Bitcoin. Now, the law is moving forward but without these clauses.  A Relief for Bitcoin in EU The European Union’s (EU) proposed Markets in Crypto Assets (MiCA) regulatory package has decided not to advance the controversial provision targeted at limiting the use of the proof-of-work cryptocurrencies due to energy...

The European Supervisory Authorities – the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA), the European Insurance and Occupational Pensions Authority (EIOPA) – issued a warning to investors about cryptocurrencies, deeming the asset class as “highly risky and speculative” in nature. The ESAs Ask Consumers to Make Informed Decisions The warning comes amidst increasing consumer activity and interest in crypto-assets, as well as the...

After weeks of debates and delays, the EU has voted against banning the use and mining of proof of work digital assets, such as bitcoin and ether. CryptoPotato reported earlier the Markets in Crypto Assets (MiCA) framework developed by the European Union, which had one rather threatening note that sought the de facto ban of PoW cryptocurrencies. The digital asset community, led by MicroStrategy’s Michael Saylor, opposed the draft, saying it could become a trillion-dollar...

The European Union made it clear that cryptocurrencies, which fall into the category “transferable assets,” are included in the financial sanctions imposed on Russia for its invasion of Ukraine. Additionally, the EU implemented similar penalties on Belarus for assisting the Russian war-like regime. The Bloc Extends Its Sanctions Similar to the USA, the European Union vowed not to deploy military troops to Ukraine and, as of the moment, stands away from a direct conflict with...

The US government and EU authorities said over the weekend that they are considering banning Russian oil imports. Shortly after, the ruble dumped by another 10%, while oil prices skyrocketed during early Monday trading hours. Ruble Dumps, Oil Soars Following President Putin’s “special military operation” against Ukraine, which became an all-out war between the two former Soviet states, the EU and the US began imposing sanctions against Russia instead of getting directly...

European Union lawmakers have removed a controversial paragraph that would have made all proof-of-work (PoW) based cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) illegal. Proposed Ban on PoW-Based Coins Deleted The Markets in Crypto-Assets (MiCA) framework, headed by Economic and Monetary Affairs (ECON) rapporteur – Stefan Berger – was originally scheduled for February 28. However, due to the vehement opposition over the language on the passage, fearing that it...

Christine Lagarde – President of the European Central Bank – urged the EU to strengthen cryptocurrency regulations. In her view, the move could prevent Russia from evading monetary sanctions after starting the military conflict in Ukraine. Russia Could Use Crypto to Bypass Embargoes The European Central Bank has called upon establishing a comprehensive regulatory framework on the digital asset industry numerous times. Russia’s invasion of Ukraine and the following financial...

While the Federal Reserve continues to threaten interest rate hikes amid rising inflation, the ECB has taken a different approach. Bank President Christine Lagarde stated they will “not rush into a decision,” deeming inflation as merely a short-term problem. Interest Rates Remain Unchanged As reported by CNBC, the ECB’s refinancing rate will remain at 0%. Meanwhile, its marginal lending rate will stay at 0.25%, and its deposit facility rate will be kept at -0.5%. The decision...

The IOTA Foundation was recently selected as a contractor for Phase 2 of the EU blockchain’s pre-commercial procurement. They will now develop prototype improvements for the European Blockchain Services Infrastructure (EBSI)’s future versions. Competing For The EU The foundation announced the commission’s support in a blog post on their site earlier today. They will be competing with four other selected contractors to research how the EBSI could be made more scalable,...