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Banks in Ireland have welcomed an upcoming reform of the European Union’s anti-money laundering regulations that will affect the crypto space. The Irish banking industry organization voiced support for the changes aimed at disrupting illicit transactions at the union level while calling them “radical.” New AML Body to Weed Out Suspicious Transactions in the EU, … Read more
A petition has been submitted to the European Parliament, asking to implement a scheme to compensate crypto-related victims. The crimes mentioned in the petition 0421/2020 include fraud, piracy, and extortion. Petition’s Author Represents Victims in the Bitsane Alleged Scam Case According to the author, lawyer Jonathan Levy, the petition asks the bloc to implement a … Read more
Cryptocurrency exchange Coinbase published a statement addressing their U.K. and E.U. customers, apologizing for system outages and account restrictions. The company also recognized their customer support “has not been at the levels” expected. High Flow of Incoming Customers According to the public apology, the U.S.-based crypto company said customers from both regions have been facing … Read more
Crypto exchange Binance has announced the launch of “European-style” Bitcoin options contracts on its trading platform. Go to Source Powered by WPeMatico
The evolution of new digital technologies has created a new shift in the value proposition for financial products and services. Digital asset management based on distributed ledger technology has opened the gates to financial institutions and regulators, with the aim of disrupting this new wave. Nevertheless, it has also opened the door for the creation … Read more
The European Commission (EC) is opposing the creation of the crypto crime victim superfund to be financed with $0.0001 per dollar on all cryptocurrency transactions occurring within the EU. The Commission says that it does not have the competence to set up and administer such a fund. It also argues that most crypto crimes occur … Read more
The European Central Bank (ECB) expects the European economy to suffer a more severe recession than the global economy. Countries across the euro area will experience “a deep recession,” which entails unprecedented funding needs of more than €1 trillion ($1.1 trillion), explained ECB Vice President Luis de Guindos. Also read: IMF Declares Global Recession, 80 … Read more
Amid the coronavirus pandemic and deepening financial crisis, the number of banks charging customers negative interest rates in Germany has accelerated. At least 80 banks now reportedly charge negative interest rates, 16 of which apply this policy to even small deposits. Also read: IMF Declares Global Recession, 80 Countries Request Help, Trillions of Dollars Needed … Read more
In this roundup, we cover EU-wide crypto regulations and individual countries’ new digital asset rules including Austria and the U.K. We also cover numerous crypto regulatory developments in the U.S., China, Japan, South Korea, India, and the Philippines. Also read: Regs Roundup: SEC Actions, Crypto Tax-Free in Korea, New Chinese Laws EU-Wide Crypto Regulations Begin … Read more
European crypto companies are finding themselves in a changing regulatory environment. The new realities they have to deal with stem from the fifth edition of the European Union’s anti-money laundering directive. AMLD5 introduces stricter customer due diligence requirements and some in the industry have realized their business models, based on key principles of the crypto … Read more
