Tagged: european union

EU: No “Stablecoin” Cryptocurrency Should Operate in Europe Until Risks Addressed

The Council of the European Union, which implements laws for the EU region, has issued a statement on “stablecoin” cryptocurrencies indicating that, “no global ‘stablecoin’…should begin operation in the European Union until the legal, regulatory and oversight challenges and risks have been adequately identified and… Read More

European Union Plans to Invest €100 Million in Blockchain & Artificial Intelligence Startups During 2020

The EU Artificial Intelligence and Blockchain Investment Fund is planning to invest €100 Million in European startups next year. This is according to note from the European Commission. The new EU investment fund seeks to boost innovation in these two key technologies. The Fund was… Read More

What the European Crowdfunding Industry Recommends for Harmonized EU Rules

Last month, Crowdfund Insider reported on comments by EC Vice President Valdis Dombrovskis, a Commissioner whose portfolio includes Financial Stability, Financial Services, and the Capital Markets Union, indicating harmonized crowdfunding rules may be forthcoming before the end of the year. In a tweet, Dombrovskis stated… Read More

Still Hope for Harmonized Crowdfunding Rules in Europe before End of the Year?

For some years now there has been a discussion at the European Commission regarding harmonization of online capital formation rules. Today, crowdfunding is regulated at the member state (national) level creating a mish-mash of European regulations that defy the entire concept of a single market… Read More

Regtech Firm Exec Says EU’s 6th Anti-Money Laundering Directive “Clears Path for Holding Responsible Parties Accountable”

The European Union’s sixth anti-money laundering directive (6AMLD) is expected to take effect on December 3, 2020. The new directive recommends several penalties for non-compliance.  EU Member States are required to have 6AMLD incorporated into their national legislation by December of next year and related… Read More

Bank of Lithuania Issues Guidelines for Regulating STOs

The Bank of Lithuania, the country’s central bank, has issued guidelines intended to, “provide greater regulatory clarity and aim at higher investor protection,” in the country’s security token offering (STO) market. Lithuania has been working hard to establish itself as a Fintech leader in the… Read More

Spurned by Libra, EU Finance Commissioner Promises Cryptocurrency Laws

The European Union’s finance commissioner-designate, Valdis Dombrovskis, has told fellow members of Europe’s governing body that he plans to propose laws for the regulation of cryptocurrencies, Reuters reports. “Europe needs a common approach on crypto-assets such as Libra…I intend to propose new legislation on this,” Dombrovskis… Read More

Amsterdam-based Fintech Firm Bunq Expands to All European Union Countries

Amsterdam-based Fintech firm Bunq announced the launch of 22 new markets on October 1. The financial and information technology company’s services will now be available in all European Union markets. Bunq will also provide services to businesses in Norway and Iceland. Overall, the company’s products… Read More

Perspective: The Woes of Crypto Licensing Across Europe

Europe possesses one of the most robust markets for digital assets. Multiple countries have established bespoke rules to facilitate, or at least regulate, digital asset offerings. These may be securities or utilities or both. Gibraltar, Malta, Switzerland were quick out of the gate with rules…. Read More

Does Blockchain Undermine or Enhance GDPR? European Parliament Report Explains

For some people, Blockchain or distributed ledger technology (DLT) holds almost mystical potential to revolutionize everything. While there is more than a bit of hyperbole associated with blockchain, it is a fact that many corporates are incorporating DLT within their operations to streamline and remove… Read More

EU Member States Conclude Negotiations on European Crowdfunding Service Provider Regime: Harmonized Regime instead of Opt-In, Major Boost for Lending Platforms

The European Council has concluded its negotiations on the European Crowdfunding Service Provider Regime, after discussing for more than a year how to facilitate more cross-border Crowdfunding, especially for equity-based and lending-based Crowdfunding. The European Council “defines the EU’s overall political direction and priorities.” The… Read More

EU Asks Malta to Boost Policing, Anti-Corruption and Tax Measures as Local Cryptocurrency and Gaming Industries Boom

In its latest “country-specific recommendations,” the EU has advised officials in Malta to enhance oversight of the country’s booming cryptocurrency and gaming sectors, to boost rules and address understaffing in the country’s Economic Crimes Unit, and to act against “aggressive tax planning” (evasion) executed by individuals… Read More

European Commission General Report on the Activities of the European Union Updates on Progress Including Fintech, Blockchain, Crowdfunding and More

Today, the European Commission adopted the 2018 edition of the General Report. According to the Commission, this fulfills its legal obligation under the Treaty on the Functioning of the European Union. The report shows how the EU is delivering on its commitments to Europeans. The Commission… Read More

European Crowdfunding Service Provider Regime Eagerly Awaited in Europe

The European Parliament Elections are looming in May – and so far, there is no progress in sight regarding the European Crowdfunding Service Provider Regime. It remains unclear whether the Romanian Finance Minister TEODOROVICI will make the conclusion of the negotiation process a priority. The… Read More

European Blockchain Partnership Continues to Add Members as Lichtenstein Joins

Earlier today, the Principality of Liechtenstein signed a declaration joining the European Blockchain Partnership (EBP). Liechtenstein is now the 28th European country in the Partnership. The EBP launched in April of 2018 when 21 EU member states, plus Norway, agreed to cooperate in the establishment of a… Read More

GDPR by the Numbers: the European Commission Provides a Glance at the Data

GDPR or the General Data Protection Regulation is a big deal. GDPR was designed to better protect consumers and their digitized information. While clearly not perfect, GDPR is the direct result of big corporations failing their customers with poor security protocols, lackluster attention to cyberfraud… Read More

Google Receives Payment Institution Authorization From Ireland’s Central Bank

Google (NASDAQ:GOOG) has received payment institution authorization from Ireland’s Central Bank. According to Irish Times, the Central Bank granted authorization to Google Payment Ireland under the second Payment Services Directive (PSD2) regulation. The company will now be allowed to issue and acquire payments across the European Union (EU)… Read More

CMU: Common Securitization Rules Kick in on January 1st in the European Union

As part of the Capital Markets Union (CMU), updated rules for securitization will commence on January 1st, 2019 in the European Union (EU). The new “harmonized” rules are designed to streamline the process of financial services firms to leverage securitization to boost access to capital…. Read More

European Parliament Votes to Boost Crowdfunding Cap to € 8 Million

Matching what several European countries have already done, the Economic and Monetary Affairs Committee of European Parliament voted this week to boost the crowdfunding cap to € 8 million across all of the European member states. This stands in contrast to an existing proposal emanating out of… Read More

Malta Bank Accused of Money Laundering by Murdered Journalist Loses License

Pilates, a private bank accused by murdered journalist Daphne Carauna Galizia of laundering money for Maltese politicians and foreign interests, has lost its license, Financial Times reports. The license was withdrawn last Friday by the European Central Bank (ECB), several months after Pilatus’ founder and ex-chairman Seyed… Read More

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