Cyprus SEC calls for the adoption of EU AML laws for crypto

The Cyprus Securities and Exchanges Commission (CySEC) has proposed the transposition of the EU’s Fifth Anti-Money Laundering Directive (AMLD5) into national law. With this, the regulator intends to bring the crypto industry in the country under the law. CySEC cited the ambiguity in local regulations as one of the key reasons for the proposal. Stakeholders in…

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Germany says it's not ready to bar Huawei in potential US snub

A spokesperson for Germany’s interior ministry told CNBC on Tuesday that the nation was not planning to shut any firm out of its 5G network. He said Germany was instead looking to amend existing laws to ensure all vendors could be included. Allowing Huawei into its 5G network would be a move against the U.S.,…

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Spain’s Central Bank Warns Against Crypto Usage, Citing Lack Of Regulation

The bank wants to warn investors – and update the cryptosphere’s lexicon. The central bank of Spain has published a warning on its blog regarding the unregulated cryptocurrency market in the country. Although most of the blog post highlights a laundry list of risks associated with making purchases or payments with cryptocurrency, it’s quick to…

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Italy: Senate Committee Takes a Step Forward on Blockchain Regulations

The Italian Republic has continued with its major plan to integrate blockchain technology into the economy of the country. This effort was revealed by the release of the country’s first blockchain technology regulation, according to TPI News – an Italian media. The regulation was approved by the Committee of Constitutional Affairs & Public Works in…

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Iran In Talks With EU To Discuss Crypto Transactions

The country of Iran is holding talks with major nations on Europe as well as Russia, Bosnia and South Africa to discuss further trade through crypto transactions. This news comes from a short report by the Tehran Times which says: “Starting a new chapter in its international monetary transactions to circumvent U.S.-led sanctions, Iran is…

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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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DESICO Launches Its Public Offering in Compliance With EU Regulation

DESICO, a startup that is developing a security token infrastructure, started public offering on November 7, 2018, during which investors will be able to purchase DESI tokens which entitle token holders to platform’s revenue. The company relies on the fundraising model given that DESI Tokens represent safer and more valuable instruments compared to ICO-based utility…

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Exchanges Roundup: SBI to Develop Wallet, Huobi Targets New Markets

In recent news pertaining to cryptocurrency exchanges, SBI Group has unveiled a partnership with Sepior that will see the companies jointly develop a proprietary wallet, Huobi has announced it is establishing an operational base in Dubai to target the African, Middle Eastern, and South Asian cryptocurrency markets, and Trijo, a Swedish crypto exchange, has received…

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Blockchain Companies Get GDPR Advice from EU Consulting Body

In addition to offering blockchain ventures advice on data protection compliance, the EU Blockchain Observatory and Forum has appealed again to EU authorities to resolve the existing tension between privacy protection laws and DLT. The European Union Blockchain Observatory and Forum, a consultancy body under the umbrella of the European Commission, has published guidance on…

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EU Securities Watchdog to Come up with ICO Regulations by End of 2018

ESAM Chairman, Steven Maijoor said they were examining how ICOs will fit into the existing regulations. They also analyzed how they will affect the fundraising sector in general. Regulators are assessing which ICOs come under existing securities rule one at a time. This decision by EU regulators comes less than a week after ESMA set…

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EU Financial Watchdog to Address Past ICOs Case by Case

The European Securities and Markets Authority (ESMA), the European Union’s financial watchdog, has announced it is taking the same approach to initial coin offerings (ICOs) as its U.S. counterpart. The agency is examining all types of cryptocurrency fundraisers to determine how they fit EU’s regulatory framework. ESMA to Assess What to Do with ICOs Outside…

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EU Officials Set for Fresh Talks on Regulating Cryptocurrencies

The European Union (EU) is reportedly gearing up for a fresh round of talks concerning cryptocurrency regulation. This move comes after the EU parliament in July advised the EU not to ban cryptocurrencies. Stricter Cryptocurrency Regulatory Measures According to Bloomberg, finance ministers from EU member nations plan to meet in September to discuss the region’s…

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Binance, Crypto Investors to Launch a Bank in Malta

Crypto exchange Binance is working on a project to launch a decentralized bank bridging the crypto industry with conventional banking. The financial institution will be based in Malta and fundraising will be conducted under German law. Authorities in Valletta have welcomed the initiative that is expected to win support from other crypto investors as well….

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Harmless for now, Dangerous in the Future: Here’s What EU Researchers Think of Cryptocurrencies

On July 9, a "Monetary Dialogue" session was held by the Committee on Economic and Monetary Affairs Committee (ECON) of the European Parliament. It’s a quarterly conference that is directly interlinked with the European Central Bank (ECB): Every three months, the president of the ECB (or, occasionally, another representative) appears before the Committee to report…

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European Banking Authority Analyzes DLT Prudential Impact on Banks

EBA analyzed distributed ledger technology and its smart contract as part of report about Fintech effects on current business models. The European Banking Authority (EBA), one of the main regulatory agencies of the European Union, warned banks about prudential risks of distributed ledger technology (DLT) on trade finance and due diligence processes in a report…

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Euro Parliament: Cryptocurrencies Not a Threat to Central Banks

Virtual money is not going to undermine the financial power of central banks any time soon, according to a European Parliament report published last week. Cryptocurrencies will not replace the money printed and controlled by central banks, especially in major currency areas, or challenge the dominant position of official legal tender, according to the findings…

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EU Parliament: Naysayers Like Economist Robert Shiller ‘Mistaken’ About Crypto

The European Parliament has told lawmakers not to “ban” or “ignore” cryptocurrencies in a new report released this week, forecasting they “will remains with us for a while.” The report, ‘Virtual currencies and central banks monetary policy: challenges ahead’ commissioned by the Economic and Monetary Affairs Committee, contains a wealth of supportive statements on virtual…

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What World Leaders Think About Crypto, and How They Want Decentralization to Bolster Centralised Power

Given the apparent sensitivity of cryptocurrency markets to regulatory and political developments, it stands to reason that the world's leaders —  and what they think about crypto — will be vitally important in determining the direction the cryptocurrency market will travel in the future. Many leaders have been willing to sit back over the past…

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Blockathon Challenge Kicks Off in Brussels to Build Anti-Counterfeit Blockchain Solution for the EU

On Friday, 11 teams joined the 2018 EU Blockathon Challenge in Brussels for 48 hours of coding and co-creation. The hackathon, an initiative by the European Commission (EC) and the European Union Intellectual Property Office (EUIPO), seeks to build the next level anti-counterfeiting infrastructure for the European Union (EU) powered by blockchain technology. The 11…

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Crypto Exchanges, Payment and Wallet Firms Join EU Police to Fight Privacy

About sixteen major cryptocurrency exchanges, payment processors and digital wallet providers have joined the EU’s law enforcement agency for an event about preventing money laundering. The three-day conference on digital currencies and cyber crime began on Tuesday in the Hague. Also Read: The Daily: Akon Launches Akoin, ICO Mogul Buys $19M Land with Bitcoin “Tracing and…

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