Tag Archives: European Union

European Central Bank President Christine Lagarde reiterated the Eurozone central bank’s stance that the development of a digital euro is meant to complement, not replace, cash — mitigating fears that Europe’s monetary union is not pushing for a cashless society.The further solidifying of this stance from Lagarde came via yesterday’s online meeting of the Franco-German Parliamentary Assembly, during which the French politician and lawyer stated:We need to fully reap the potential gains from...

Three to five countries will completely replace their currency with a central bank digital currency by 2030, argued a recent report by a German-based fintech think tank.The document also warned that if the European Central Bank doesn’t accelerate its CBDC endeavors, the digital Yuan will overtake it but won’t disrupt the Dollar’s dominance.Countries To Fully Implement CBDCsThe European think tank focusing on fintech and blockchain research dGen published a study on the potential impact of...

Crypto commerce in Ireland is about to become a lot more regulated, with lawmakers in the country ready to introduce laws targeted at combating cryptocurrency-related money laundering.Wallets and Exchanges to Come Under Scrutiny in IrelandAccording to the Irish Examiner, Ireland’s cabinet is set to introduce new anti-money laundering (AML) laws. These pieces of legislation will reportedly focus on the use of cryptos in illicit financial activities like money laundering and terrorist...

Switzerland-based digital asset service company Bitcoin Suisse has successfully raised nearly $50 million in a Series A financing round. The company plans to utilize the funds to enhance its staking services and custodial solutions before initiating an STO.Bitcoin Suisse Raises $50MAs CryptoPotato reported in May, Bitcoin Suisse AG planned to hold new funding round to raise about CHF 45 million ($48 million). Earlier today, the Swiss organization announced the successful completion of the...

The Bank of Lithuania has officially launched its blockchain-based digital collector coin called LBCOIN. Although bank officials clarified that it’s not a CBDC, they suggested LBCOIN could eventually lead to releasing a central bank digital currency.Bank Of Lithuania’s Digital Collector CoinAs CryptoPotato reported recently, the central bank of the Baltic country had finished with the development stages of the LBCOIN and was planning to initiate a pre-sale. With some delays, the Bank of...

Pascal Boyart, an artist from France who became popular in the cryptocurrency community through his paintings, has finished yet another mural.This one depicts the famous Red Jester but with a twist to reflect the current problems that riddle the global economy.“Contemplation of the Red Jester”The Bitcoin community’s favorite artist, Pascal Boyart, took it to Twitter today to announce that he has finished yet another mural painting.“Contemplation of the Red Jester”July 20203,50 x 6m.Rue de...

According to a recent report, Lithuania may be the first nation to launch a central bank-backed digital coin in the eurozone. The country’s central bank plans a pre-sale of twenty-four thousand blockchain-based digital tokens called LBCOINs.Lithuania To Sell 24k Blockchain-based TokensA Reuters report from earlier today informed that the Baltic country has completed the development stages of the LBCOINs and is preparing for the pre-sale next week.Each of the twenty-four thousand...

Wirecard, a company whose subsidiary issues Crypto.com’s MCO Visa card and TenX’s Visa Debit Card, has filed for insolvency. This comes after it was reported that auditor Ernst & Young was unable to confirm that $2.1 billion appeared on the company’s trust accounts, and its former CEO was arrested.Wirecard Files for InsolvencyAs CryptoPotato reported earlier this month, auditing company Ernst & Young was unable to confirm that $2.1 billion appeared on Wirecard’s trust accounts.Shortly...

De Nederlandsche Bank (DNB), the central bank of the Netherlands, wants to play an essential role in the development and testing of the potential digital Euro. DNB believes that people are using less physical cash, and a central bank digital currency (CBDC) could be a game-changer. DNB On Central Bank Digital Currency The bank published a report regarding the potential usage of CBDCs in today’s economy. According to it, the adoption process could be faster than expected, as people in the...

New regulations for cryptocurrencies are in the making in the EU. Lawmakers are considering creating a new regulatory body after the parliament has published a paper pointing out some legislative “blind spots” concerning the supervision of crypto assets in the European Union.Lawmakers Say Crypto Mining Might Be Used for Money LaunderingIt’s a bit of a throwback to December 2019 when The Fifth Anti-Money Laundering Directive (5AMLD) – an updated legislation version, was announced. The updated...