Tag Archives: European Union

According to a fresh release, companies that transfer BTC or other cryptocurrencies must collect information about the senders and recipients if proposed EU regulations come into force. In a bid to end anonymous cryptocurrency wallets, the Europoean Commission has proposed a law that would require companies that transfer BTC and other cryptos to collect information about the sender and the receiver. This, according to a recent press release, aims to crack down on illicit...

Turkey’s Deputy Minister of Treasury and Finance – Şakir Ercan Gül – revealed that the officials have completed the draft bill with the regulatory framework for cryptocurrencies and will present it to the Parliament in October 2021. He opined that the Asian country needs to learn from Western Europe and the USA but should implement stricter rules. The Crypto Bill Is Ready According to a recent report, the Turkish Deputy Minister of Finance – Şakir Ercan Gül – stated that the...

The European Union is set to launch a new agency to take severe measures on money laundering across its borders. Cryptocurrencies have the ability to take part in illicit financial operations as well, and the new department will put them under its scope of regulations. Crypto Under The Radar of the EU According to a recent Reuters report, the European Union is looking to propose a new agency to set new transparency monetary rules, to fight money laundering, and even prevent...

François Villeroy de Galhau – the head of the French central bank – sounded a note of caution that Europe’s monetary sovereignty faces tough times if the EU does not regulate cryptocurrencies. Without hasty action, the international role of the euro would be endangered. ‘Europe Must Be Ready’ At the annual financial conference in Paris, the governor of Banque de France – François Villeroy de Galhau – claimed that the European Union needs to build a regulatory framework around...

KBC, one of the largest insurance and banking companies in Belgium, announced its plans to launch its own cryptocurrency, slightly changing its approach to digital assets. KBC Coin, the bank’s native cryptocurrency, would be a kind of reward token that would allow the bank to develop interaction strategies with its customers, promote its platform, and compel users to adopt its services. KBC Coin Is Almost Ready The bank shared the announcement during the presentation of the...

Germany’s Financial Supervisory Authority is investigating Binance for its offering of tokenized shares and is already holding a preliminary opinion that doesn’t look too encouraging for the world’s leading crypto exchange. According to a legal opinion published on its official website, the Bundesanstalt für Finanzdienstleistungsaufsicht —or simply BaFin— considers that Binance would be violating securities laws by issuing shares of publicly traded companies like Tesla,...

Robert Ophèle, chairman of France’s financial regulatory body, the Autorité des Marchés Financiers (AMF), proposed a robust approach regarding cryptocurrecy regulations in order to encourage the growth and development of innovative projects.AMF Chairman Proposes Blockchain and DeFi Testing in Pilot RegimeSpeaking at the just concluded 5th Annual Conference Fintech and Regulation, Ophèle stated that with the continuous growth of the cryptocurrency sector, it was necessary for Europe to put in...

Following last evening’s run-up to around $24,300, today the markets are deep in the red. Bitcoin dipped below $22,700, charting a decrease of about 3.5% on the day, while altcoins crash even harder.This downturn coincides with a market-wide pullback in traditional finance as major European indices tumble while US index futures are also down in the pre-market hours.Bitcoin Price Loses $1,400 in Hours, Market FollowsYesterday was a good day for Bitcoin as the price for the cryptocurrency...

Germany’s finance minister and noted crypto critic Olaf Scholz wants the European Central Bank (ECB) to move faster with its decision on a potential digital Euro. Scholz is known for espousing anti-cryptocurrency sentiments while encouraging the EU to develop digital currencies to prevent the proliferation of private virtual currencies.Growing Appetite for Digital CurrencyAccording to a report by Reuters published on Nov. 27, Germany’s Federal Minister of Finance, Olaf Scholz, has urged the...

The largest bank in Belarus – the ASB Belarusbank – has reportedly launched a legal service enabling customers from the country and Russia to purchase cryptocurrencies. Users will be able to exchange digital assets for Belarusian and Russian rubles, US dollars, and euros directly with their Visa payment cards. Belarusbank To Allow Crypto Purchases According to the Prime Press coverage, the largest bank in Belarus by volume of equity, assets, loans, and deposits has partnered...