The European Commission is gathering feedback from EU citizens, businesses, regulators and other interested parties to establish a regulatory framework for crypto assets and markets on a European level. The public consultation which started in December will continue until March 19, 2020, with the finalized proposal expected in the third quarter. Also read: Swiss Financial […]
The post Brussels Asks Europeans How to Regulate Bitcoin, Public Consultation Continues Into March appeared first on Bitcoin News.
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Cryptocurrency taxation is a subject that concerns a growing number of users, traders and investors. An area that creates a lot of confusion among taxpayers is the application of VAT, or the value-added tax most countries levy on the sales of goods and services. Georgia has become the latest nation to free crypto-fiat transactions from […]
The European Banking Authority (EBA), a regulatory agency of the European Union, has published its assessment into the application of EU law to crypto assets. The agency, which is headquartered in London, recommends that the European Commission tables a response to the risks regulators associate with the field such as money laundering. Also Read: FBI […]
A recent report published by the European Parliament advises policymakers and regulators not to ignore cryptocurrencies or attempt to ban them. It discusses how crypto should be treated, their taxation, as well as their potential impact on financial systems and central banks’ monopolies on money issuance. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space […]
More than two thirds of the leading cryptocurrency exchanges and wallet providers on both sides of the Atlantic fail to conduct proper identity verification checks. According to new research into their onboarding practices, most of the studied platforms do not meet the requirements of the upcoming regulations under the updated EU anti-money laundering directive. Also […]
While it may be premature, many are suggesting that a true reversal is finally taking place. As Bitcoin establishes higher lows, and more and more altcoins are seeing huge appreciations, there seems to be evidence to suggest the bears are being driven out. Coupled with abundant, positive news recently, it’s possible that the extended red will soon turn green. Last week, Bitcoin (BTC) held support at US$6,600. More recently, floors were established at $6,700, and days later $6,800. Today, Bitcoin is holding above the $6,900 mark, and is gradually pushing towards a renewed support at $7,000. This growth has been
The Chairman of the European Banking Authority has spoken against excessive regulation of the crypto sector, warning it might constrain financial innovation. Outlining EBA’s position in regards to the supervision of the Fintech industry, Andrea Enria said regulators need to maintain a “measured approach”. Next week EBA will publish a roadmap, which defines a series […]
Commissioner for Financial Stability, Financial Services and Capital Markets Union, Valdis Dombrovskis of the European Union (EU), is urging a broader regulatory regime upon cryptocurrencies, and is threatening an EU move especially if there appears to be no global consensus on how to address the decentralized currency phenomenon. Also read: Bitcoin Futures Regulator Allows Employees to […]
Thirty-five countries and the European Commission have asked the Financial Action Task Force (FATF), responsible for setting global anti-money laundering (AML) policies, to revise its standards relating to cryptocurrencies. The organization promised to present its revised AML countermeasures for cryptocurrencies at the upcoming G20 meeting of finance ministers. Also read: Indians Look to Buy Bitcoin Overseas […]
Government officials can’t seem to make their minds up about bitcoin. Politicians like the underlying technology, they are prone to insist, but aren’t sure about the cryptocurrency itself, which is used by criminals to launder money, they reiterate. In as many weeks, European Commission-affiliated groups have issued two seemingly contradictory statements on the matter. Either […]