Tagged: european union

After UK’s Exit from EU, Vilnius Set to Become Largest Center in the Bloc for Regulated Fintech Firms: Report

The Baltic region’s finance industry has been struggling and some of the area’s countries including Estonia, Latvia, and Lithuania have reportedly been indirectly involved in money-laundering scandals that were allegedly orchestrated by large Nordic banks. However, Lithuania’s capital has been able to develop its local… Read More

European Commission Launches Two Consultations, One on Crypto Assets, 2nd on Cybersecurity

Yesterday the European Commission announced the launch of two consultations. The first is on digital or crypto-assets including stablecoins. The second is on cybersecurity. The consultation on digital assets is due to President Ursula von der Leyen determination to keep abreast of innovation in the… Read More

European Crowdfunding Network: Extremely Excited with Harmonized EU Crowdfunding Rules

Yesterday, Crowdfund Insider reported on the agreed-upon legislation for harmonized pan-European crowdfunding rules. Having a single market for online capital formation has been a goal of crowdfunding industry leaders and industry participants for years. Industry advocates have worked diligently behind the scenes to push forward… Read More

Finally. European Union Agrees on Harmonized Crowdfunding Rules, Offering Cap Set at €5,000,000

According to a notice published by the Europea Parliament, final European Union-wide rules have been agreed upon thus forwarding the goal of a true monetary union while promoting online capital formation. The European Parliament negotiating team has reached a deal with the European Council which… Read More

Cryptocurrency Mining Platform Simpecoin Set to Officially Shut Down on January 1st 2020

Simplecoin, a European cryptocurrency mining platform, has announced that it will be shutting down its operations on January 1, 2020. Simpleton reported that the proposed fourth Anti-Money Laundering Directive by the European Union (EU) is currently being implemented by its member states which impacts its… Read More

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

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