Tagged: european union

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

European Regulation Is on the Way, Crypto Exchanges Had Best Be Prepared

The European Union does not need to seek out any problems for the moment, with the highly publicized ‘divorce’ from the UK taking place in the full media spotlight, but it’s easy to forget that, as things stand, the EU is also taking its approach… Read More

Will the EC Pass Pan European Crowdfunding Regulations, Including Initial Coin Offerings?

For quite some time now, the European Commission has been discussing creating a pan-European approach to investment crowdfunding. This policy move absolutely makes sense and clearly aligns with the Fintech Action Plan and Capital Markets Union. In many ways, creating a single law for all… Read More

European Financial Ministers: ICOs Can Be a Valuable Tool for Access to Funding but No Rules Yet

Federal Minister Löger

At the meeting of EU financial ministers in Vienna last week, Austria’s Minister of Finance Hartwig Löger said that Europe is working on rules and regulations for crypto assets to support the development of the sector. The meeting included all of the economic and financial affairs… Read More

22 European Countries Sign Comprehensive Blockchain Cooperative Agreement

On Tuesday, April 10th, 22 European countries signed an declaration vowing to cooperate as partners in the development and deployment of blockchain tech across European jurisdictions. According to the declaration, “Cooperation on a European Blockchain Partnership,” earnest efforts to “reaffirm” Europe’s “leading role” globally in blockchain… Read More

European Securities and Markets Authority Prohibits Binary Options for Retail Investors

The European Securities and Markets Authority (ESMA) has banned the marketing, distribution and sale of binary options to retail investors. Simultaneously, contracts for differences (CFDs) will have a restriction on the marketing, distribution or sale to retail investors. ESMA can only introduce temporary intervention measures… Read More

InstaReM Launches Zero-Margin FX Rate Overseas Money Transfer Service from EU

InstaReM, a Southeast Asia’s digital cross-border money transfer service provider, announced on Thursday it has extended its outbound money transfer operations to another important market, the European Union (EU). ), Prajit Nanu, the co-founder of the fintech start-up, revealed the exciting news at the Money20/20 Asia 2018… Read More

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