European Financial Watchdogs Ask For Cryptocurrency And ICO Regulations

The EBA looks to even the playing field across the EU, while the ESMA worries about mass crypto adoption. The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) have both published reports today, January 9, calling for a European Union-wide approach to cryptocurrency and ICO regulation to help ensure investor protection….

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European Union Regulators Call For EU-Wide Crypto Rules

The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) have called for an EU-wide approach to cryptocurrency and initial coin offerings (ICO) regulation in order to protect investor. The EBA published the results of its assessment of EU laws and how they relate to cryptocurrencies earlier this week. The report found…

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BaFin Prepares to Permanently Ban Binary Options

Binary options have long been identified by regulators as a toxic product. Today the German regulator is taking things to the next level with the introduction of a permanent ban for offering binaries to retail traders. The German financial regulator, BaFin is rolling out a measure that is set to inherit the ESMA’S temporary product…

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ESMA Updates Portfolio Management and Robo-Advisor Guidelines

The European Securities and Markets Authority (ESMA) has published a set of guidelines for portfolio management and investment advisory financial firms. Specifically, the updated recommendations provide clarification on robo-advisors and the “suitability assessment” in relation to MiFID II. A suitability assessment refers to the process of collecting information about a client and then, based on…

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FX Traders Flee Offshore, Tether Still Unstable: Best of the Week

UK derivatives broker to open office in Chicago IG Group, a British financial derivatives broker, has received regulatory approval from the National Futures Association, the self-regulatory organisation of the US derivatives market. It made its application in October 2017. Join the Leading Industry Event! The firm intends to open an office in Chicago in the…

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European Financial Watchdog Allocates Over 1 Million Euro To Monitor FinTech And Cryptocurrencies

The European Securities and Markets Authority (ESMA) has revealed that it will spend more than €1 million ($1M USD) to monitor FinTech and cryptocurrency activities during 2019. Founded in 2011, the ESMA works in the field of securities legislation and regulation to improve the functioning of financial markets in Europe, strengthening investor protection and co-operation…

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ESMA Withdraws Guidelines on Auto-Trading Venues, Updates Investor Protection Q&As

Europe’s financial markets watchdog today has cancelled its MiFID guidelines regarding the organisational requirements in automated trading environments. The ESMA’s guidelines were issued in 2011 and were applied to the trading of all financial instruments in an automated platform, as opposed to being restricted solely to the stocks venues. The decision comes as MiFID II…

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How the European GDPR Affects In-App Advertising

The European General Data Protection Regulation (GDPR) came into force during May of this year, introducing sweeping changes to the way that companies and websites interact with their customers and users. Among other requirements, the regulation puts the onus on website owners to ensure they have the explicit consent of a user for the use…

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76% of EU Traders Lose, Deutsche Profits from Turkish Crash – Best of the Week

Analysis – 76.1 percent of customers of EU brokers lose money trading Pan-European regulator ESMA introduced new laws for foreign exchange companies in August, which include many restrictions which are likely to harm their profits. Whoa! London Summit's new site is LIVE One new obligation is that the firms reveal what percentage of their customers…

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Analysis: Five Unexpected and Positive Post-ESMA Effects for Brokers

Over the past several months, the focus of the retail trading industry has been largely on the downside risks stemming from the new ESMA regulatory framework. If we are to take cue from history, things might not be so dramatic after all. Brexit didn’t kill UK banks, nor is it likely to do so. The…

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Exchanges Round-Up: Dcex Uses XRP as Base Currency, Blocktrade Enters Beta

In recent news regarding bitcoin exchanges, Dcex has launched a peer-to-peer cryptocurrency exchange that will use XRP as its base currency, ESMA regulated exchange, Blocktrade, has opened for beta testing, and Coinfield has announced a partnership with fee-free trading app Moongo. Also Read:Banks Don’t Really Want to Use ‘Blockchain’ for FX Settlement After All  Dcex…

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