Tag Archives: European Union

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,...

Fabio Panetta – Member of the Executive Board of the European Central Bank – revealed that the digital version of the euro might become a legal tender inside the European zone. Digital Euro ‘Should Not Be Taken for Granted’ As Bloomberg reported, the Italian economist and member at the ECB – Fabio Panetta – hinted about the initiative during a panel discussion in Helsinki, Finland. He asserted that if the European Central Bank proceeds with its efforts of launching a digital...

The Austrian authorities will reportedly tax bitcoin and the altcoins with the same percentage rate as mainstream stock and bond investments starting from March next year. Bitcoin to Be Like a Stock Investment A recent Bloomberg report reads that Austria wants to create fairness between the different classes of assets and impose a 27.5% capital gains tax on all of them, regardless of being stock, bond, or cryptocurrency investments. The Finance Ministry commented: “We are...

Central, Northern, and Western Europe (CNWE) has grown into the world’s largest cryptocurrency economy since July 2020. The region experienced a massive increase in trading activity since then– particularly in the DeFi space. The European DeFi Boom Data from Chainalysis shows that CNWE received over $1 trillion in cryptocurrency over the last year alone. This represents 25% of global trading activity. Furthermore, it is responsible for at least 25% of all crypto value...

The non-profit IOTA Foundation is among the seven projects chosen by the European Commission to partake in the first design phase of the European blockchain initiative. A Milestone for IOTA IOTA made the announcement in a blog post published on Tuesday (September 7, 2021). According to the blockchain project, IOTA would be involved in the initial stage of the pre-commercial procurement (PCP) process for the European Blockchain Services Infrastructure (EBSI). The EBSI is a...

According to recent research, around 60% of Europeans prefer their own countries to regulate digital assets rather than the European Union. Interestingly, a growing number of people believe the creation of national digital currencies would grant their nations some financial independence from the EU. Crypto Regulations Coming from The EU Is Not Preferable A survey conducted among 31,000 participants from 12 different countries – all part of the European Union – revealed that...

Gabriel Makhlouf – the Central Bank of Ireland Governor – believes cryptocurrencies could negatively impact the European financial stability. He also stated that the Eurozone is very close to launching its own CBDC, indicating that “it’s not a question of if but rather how and when.” Are Digital Assets a Threat to The EU? In a recent blog post, CBI’s Governor Gabriel Makhlouf spoke rather contradictory about virtual currencies and their function. The top banker warned that...

Cryptocurrencies are on the verge of losing their edge in European countries as members of the EU (European Union) are now looking into banning all anonymous crypto trades. The European Union Is Working on New Crypto Regulations The process is designed to ensure all monetary transactions are safe. The organization is seeking to end all financial crime such as money laundering and terrorist financing and representatives believe this will lead to a stronger environment for...