EU

The European Union (EU) is inching closer to reaching an agreement on the Markets in Crypto-Assets (MiCA) crypto legislative package. A Bloomberg report unveiled this news today, citing sources conversant with this development. The sources requested to remain anonymous, seeing as the information is confidential. According to the report, France - which currently Chairs the EU and European Parliament - is optimistic about addressing issues holding up MiCA within a month. Negotiators will meet on June 14 and June 30,…

Members of the European Parliament are preparing for a historical vote the coming week. This event could mean the end of anonymous crypto transactions. EU Could Enforce Several Restrictions According to new reports, EU legislators could block transfers to flagged jurisdictions and enforce ID  check on all crypto transactions. Urged on by Russia’s increased focus on crypto to evade financial restrictions, lawmakers worldwide are reviewing regulations with renewed intensity. The European Union has not fallen behind in this global movement.…

Members of the European Union parliament recently voted down a drafted bill that, if enforced, would affect miners of several digital assets. Bitcoin and Ethereum could be the biggest coins susceptible to the law. Legislation Poses Existential Threat to Virtual Assets Dubbed MiCA, the proposal in question featured a ban on protocols that make use of the proof-of-work consensus mechanism. The MiCA came to media attention last month, following EU's interest in a green finance industry. Directed against environmentally harmful…

This year started as a promising new chapter for the cryptocurrency market. A Bitcoin halvening, a global pandemic, and seven months later have made 2020 a completely different year for the industry than what anyone expected. There are plenty of reasons to remember 2020 for many years from now. This year, the cryptocurrency community could go down as the one with some of the most representative regulatory changes in history. Today, we take a closer look at the 2020 cryptocurrency…

We are ready to work on the establishment of a European central bank digital currency, says the Italian Banking Association (ABI). The ABI announced its willingness to support the implementation of a digital currency from the European Central Bank. The association’s website noted the approval of guidelines governing its position on digital currency and central bank digital currencies (CBDCs) on June 18. The ABI, which represents a group of banks in Italy, said it was ready to take part in projects and…

Are governments keen to regulate cryptocurrencies to prevent financial fraud and protect citizens, or are they using regulation to Stifle Decentralized Finance? "What Was TON And Why It Is Over" is the title that was given to the parting statement made by Telegram's co-founder after Telegram was recently forced to abandon the TON blockchain project. After a continuous legal battle with the US Securities Exchange Commission (SEC), this ensued, which accused Telegram of conducting an illegal ICO sale and issuing…

The Dutch central bank claims readiness for the development and trial of a digital Euro. According to the apex bank, it is willing to lead the development of a Europe-wide digital currency. On April 21, the central bank released a 45-page report which stated its readiness to lead the research and development of a digital currency for the Netherlands and Europe. The report also stated that the central bank is interested in becoming a proving ground for central bank digital currencies in…

The current global economic trouble is shifting attention to blockchain technology. Before now, some governments have been considering and looking into how to deploy the technology in some sectors. Interestingly, the government of South Korea has noted that the blockchain market stands for a “golden opportunity” for the country. The government is admonishing private sector firms in the country to exploit this potential. On Apr. 17, Fn News released a report which noted that the Vice Minister of Strategy and Finance,…

Simplecoin, Chopcoin, and Bottle Pay are among the crypto companies dissolving upon the EU money-laundering regulations. These regulations will take effect from the 10th of January 2020. Simplecoin is a crypto mining tool, while Chopcoin is a bitcoin gaming platform. A notice on Simplecoin's website says it will shut down on the 1st of January 2020. It is due to AMLD5 demanding its users to perform KYC for anti-money laundering, AML reasons, which will threaten users’ privacy. Bottle Pay, on…