Tagged: european union

European Commission Adopts Digital Finance Package and Legislative Proposals on Crypto-Assets

The European Commission has announced the adoption of a Digital Finance Package along with legislative proposals on crypto-assets (digital assets).  The announcement has been widely anticipated and earlier this month draft legislation pertaining to crypto-assets was leaked to the public. According to a statement by… Read More

European Draft Regulation of Crypto-Assets Seeks Innovation Friendly Approach as Usage of Blockchain in Financial Services Grows

Draft regulation crafted by the European Commission that pertains to crypto-assets (digital assets) and blockchain tech in financial services has surfaced on the web. Final legislation has been anticipated at some point this month as European policymakers seek to foster an “innovation-friendly” approach that assures… Read More

Eurozone: EC Vice President Dombrovskis Talks Digital Assets – “We Want to Regulate Innovation In”

In a speech delivered to the ECOFIN press conference in Berlin today, European Commission Executive Vice President Valdis Dombrovskis commented on crypto-assets and stablecoins. It is anticipated that later this month and update will be be presented pertaining to the EU Digital Finance Strategy and… Read More

Dr. Joshua Ellul, the Chairman of Malta Digital Innovation Authority, Expresses Concerns About Crypto Regulations

Dr. Joshua Ellul, the Chairman of Malta Digital Innovation Authority and Director of Centre for DLTs, University of Malta, has published an open letter to European Union (EU) regulators focused on cryptocurrencies. The letter is also meant to inform relevant policy advisors and makers in… Read More

European Central Bank Warns Against Potential Threat of Dominance of Big Tech in Financial and Cloud Services

The European Central Bank (ECB), the reserve bank of the Eurozone, which is a monetary union of 19 EU member states which employ the Euro, has noted that there doesn’t seem to be an EU challenger that’s capable of matching the capabilities of Big Tech… Read More

London Stock Exchange Might be Looking to Sell Borsa Italiana so it Can Complete Refinitiv Acquisition

The London Stock Exchange (LSE), which is based in the City of London, England and has a market cap of around $4.6 trillion, is reportedly looking into whether it should sell its Borsa Italiana business, so that it can appease certain European Union regulators, and… Read More

European Fintech Association Combines Several Entities to Create Single Voice for Fintechs in Europe

The recently launched European Fintech Association (EFA) is seeking to unite disparate voices in the fast-growing Fintech industry. The non profit is an entity that combines EFAlliance and FinTechs4Europe to provide a cogent approach to emerging European Union policy. In a recent release, the EFA… Read More

EU Consultation on Payments Strategy Deadlines for Comments on Friday

The European Union initiated a consultation on its retail payments strategy last April. The deadline for comments is this Friday, June 26, 2020. The consultation addresses the digitization of payments and the belief that Europe needs a “strategic vision to ensure that consumers and companies… Read More

Billions of Dollars in Illicit Cash Allegedly Laundered via Danske Bank, with Help of Licensed Crypto Firms in Estonia

Estonia, one of the world’s most developed nations with an advanced, high-income economy that’s among the fastest-growing in the EU, is reportedly caught up in one of Europe’s largest-ever dirty-money scandals. Estonia has been quite active when it comes to encouraging the adoption of digital… Read More

New Zealand’s Fintech Zeeco Partners with Salt Edge, an Open Banking Solution Provider, to Access Users’ Bank Data and Automate Eco-contributions

New Zealand-based Fintech firm Zeeco has partnered with Salt Edge, a company that provides Open Banking solutions, in order to access users’ financial data and automate certain eco-contributions. As mentioned in a blog post published on Salt Edge’s official website: “With [rising] awareness [about] the… Read More

Coinbase Introduces Tezos (XTZ) Staking to Earn Rewards by Passively Holding Crypto on the Exchange in the UK, certain EU Countries

San Francisco-based cryptocurrency exchange Coinbase is focused on providing more ways for users to earn financial rewards by simply holding digital assets. Coinbase recently introduced Tezos (XTZ) staking rewards for its US-based customers. The exchange will now be offering this option to its UK clients… Read More

Regtech: European Trade Repository REGIS-TR Partners Sensiple to Offer Interoperable, Automated Reporting Software

European trade repository REGIS-TR, which is a joint initiative established by the Clearstream (Deutsche Börse Group) and Iberclear (BME Group), will partner with Sensiple, a company offering regulatory technology (Regtech) for making repurchase agreements and facilitating secure lending. Through the partnership, REGIS-TR and Sensiple plan… Read More

Amsterdam-based Banking Challenger Finom Secures €6.5 Million in Seed Funding via Round led by Target Global

Amsterdam-based banking challenger Finom, which aims to serve entrepreneurs and SMEs, has secured €6.5 million in seed funding through an investment round led by Target Global. General Catalyst, FJlabs, the Raisin founders Frank Freund, Tamaz Georgadze, and Michael Stephan also took part in Finom’s funding… Read More

Blockchain-based Brave Browser Files Complaint Urging European Commission to Take Action Against Government Agencies that are Not Ensuring User Privacy

The San Francisco-based developers of Brave, an open-source, privacy-oriented Internet browser, have submitted a complaint which asks the European Commission to take quick action against European Union-based government agencies that are not protecting the data and privacy of local residents. Brave’s complaint was filed on… Read More

European Bitcoin (BTC) Savings Service Bittr Forced to Shut Down Due to Extensive and Costly AMLD5 Regulatory Requirments

Netherlands-based Bittr, a Bitcoin (BTC) savings service, is reportedly closing down its business. Ruben Waterman, the company’s founder, said that newly-enforced financial regulations were the main reason why Bittr decided to shut down its services. The AMLD5 became effective July 9, 2018, and required the… Read More

Dutch Banking Challenger bunq Introduces Joint Accounts for Premium and Business Account Holders

European challenger bank bunq is introducing joint accounts for its Premium and Business account holders. Bunq+1 users will now have the option of opening an account for anyone they want to, which includes their partners and children. Bunq+1 business clients can create new accounts for… Read More

European Commission Plans Crypto-Asset Legislation in Q3 of 2020

The European Commission (EC) intends on publishing possible legislation for digital assets or crypto-assets in Q3 of 2020. This is according to a statement Executive Vice-President Valdis Dombrovskis on behalf of the EC. The reveal was squirreled away in a European Parliament question page. The statement… Read More

Here is the EU’s Consultation on Digital Finance – Fintech Action Plan

This month, the European Commission kicked off a consultation on the future of digital finance and Fintech. Simultaneously a consultation on payments was announced. The Fintech consultation opens by explaining the following: “Digitalisation is transforming the European financial system and the provision of financial services… Read More

European Parliament Suggests Broadening the Definition of Virtual Currencies and Platforms that Need to Follow Financial Regulations

The European Parliament suggests that the EU should consider broadening the existing definition of digital assets or cryptocurrencies and expand its current list of blockchain or crypto-related organizations that may need to follow financial regulations. The EU adopted the Fifth Anti-Money Laundering Directive (AMLD5) back… Read More

Digital Banking: Online Lender Mintos Pursues European Investment and e-Money Licenses

Mintos, a global loan marketplace claiming over a quarter of a million investors, is pursuing both a investment firm license and an e-money institution license, according to a release from the company. Mintos has applied to the Financial and Capital Market Commission (FCMC) in Latvia… Read More

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