The European Securities and Markets Authority (ESMA) has budgeted over €1 million to monitor financial innovation including cryptocurrencies.
Finance ministers from the European Union’s 28 member states will hold an informal meeting on the challenges posed by Bitcoin and other cryptocurrencies and the possibility of tightening regulations, Bloomberg reported August 29.
No specific European Union rules are needed to regulate blockchain for the time being given the sector’s still limited reach, the bloc’s securities watchdog said on Tuesday.
EU authorities announced plans to create a working group at Europol to deal with digital currency laundering operations.
According to European Parliament budget amendments, the draft amendment was tabled by MEP Jakob von Weizsäcker of Committee on Economic and Monetary Affairs. He claims that effectuation will cost €1 million.
The European Parliament’s Committee for Economic and Monetary Affairs has approved a report on cryptocurrency regulation approaches in a majority vote. In the committee’s opinion, the EU should restrict itself from direct regulation of bitcoin and other virtual currencies, and adhere to a ‘softer’ approach to regulation of blockchain-based financial services. The report released this […]
Bitcoin exchange Bitstamp has officially confirmed it signed an agreement with the government of Luxembourg, which would enable it to launch regulated and licensed services throughout all 28 nations of the European Union. The permission is effective as of July 1, when Bitstamp officially starts operating in Luxembourg. The exchange’s statement on their website reads: […]
According to the vice commissioner of the European Council Valdis Dombrovskis, the regulations may incorporate prohibition of transactions from so-called “high-risk countries”. Speaking at a press conference in Brussels on Saturday, February 13, Dombrovskis stated: “By June at the latest we will propose measures to […] have better control of payment forms such as virtual […]
The European Commission, the executive body of the EU, announced its plans to tighten accountability requirements for cryptocurrency exchanges and bitcoin wallet providers. The measure is a part of the EU’s extended efforts to combat financing of terrorist groups. In particular, the European officials intend to oblige EU-based wallets and exchanges to have all of […]
According to Reuters, the EU intends to continue monitoring virtual currencies rather than regulating them right away. The intent is said to be justified by little knowledge of virtual money’s regulatory risks deemed inherent, like being prone to money-laundering. The other reason is that cryptocurrency market in general is incomparably smaller than that of fiat […]
The motion tabled on November 25 by three European Parliament members representing a French right-wing party seeks to grant the right to the EU member states “to exercise stricter controls over all virtual currency exchange transactions and even to prohibit them”.