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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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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'EU-Level Action Needed' for Cryptocurrency, Says European Banking Authority

The European Banking Authority (EBA) is calling for standardized regulations for cryptocurrency operations within the EU. Europe’s banking watchdog believes such a move will eliminate unfair regulatory arbitrage while protecting investors across the bloc. A Common Monitoring Template The EBA conveyed its clamor for a regional framework for cryptocurrency regulations in a report published on Wednesday,…

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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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EU regulators want to make sure Amazon isn't undercutting sellers, commissioner says

EU regulators are questioning Amazon merchants about whether the company is using seller data to its advantage. They want to ensure the e-commerce giant isn’t using that data to replicate products and cannibalize sales from sellers on its platform. Margrethe Vestager, the European Commissioner for Competition, told CNBC’s Sara Eisen that one of her agency’s…

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Bittrex to Launch Crypto Exchange in Malta Next Month

US-based cryptocurrency exchange Bittrex is reportedly launching a crypto exchange in Malta at the beginning of next month. Bittrex says the new platform will allow them to list coins “a lot faster.” It will operate within the regulatory framework established by the European Union and the Maltese government. Bittrex Eyes Malta Launch in October Bittrex…

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FCA Warns UK Can’t Handle Financial Crime Risks if No-Deal Brexit Occurs

The chair of the Financial Conduct Authority (FCA), Charles Randall, has warned that the United Kingdom won’t be able to deal with the risks of crime in the finance industry should a no-deal Brexit occur. This is because data sharing agreements between Britain and the European Union (EU) play a critical role in fighting financial…

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New Report Warns EU Policymakers Not to Ban Bitcoin

New research analysis on cryptocurrencies for the Economic and Monetary Affairs Committee of the EU parliament cautions lawmakers neither to ignore nor “attempt to ban” virtual currencies.  A ‘Contemporary Form of Private Money’ The report, provided by Policy Department A at the request of the European Union Parliament’s Economic and Monetary Affairs Committee, is titled Virtual currencies…

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Cryptocurrencies Can Now be Monitored by FIUs, New EU Directive Says

On Tuesday the European Union published its Fifth Anti-Money Laundering Directive (Directive (EU) 2018/843), aiming to both detect and investigate money laundering and prevent it from occurring.  The new directive, amending the prior Directive (EU) 2015/849, was passed by the European Parliament and the European Council and published in Official Journal L156 of the European…

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EU Ready to Regulate Cryptocurrencies

The European Union is prepared to regulate cryptocurrencies if the sector continues to remain inherently volatile and present substantial risks to new investors. If these risks are not tackled at the global level, the EU is ready to step in according to the Union’s financial services commissioner. Global Investment Craze Cryptocurrencies are extremely volatile and…

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Bitcoin in Brief Saturday: Spanish Parties Back Crypto Draft, Slovenia Adopts Crypto Action Plan

All parties represented in the Spanish Congress have voiced support for a new draft legislation introducing favorable crypto regulations in the country. We’ve covered the details in today’s edition of Bitcoin in Brief. Also, Slovenia adopts a crypto action plan, Estonia drops plans to issue a national cryptocurrency, and Hungary claims it’s ready to join…

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EU watchdog implements stricter requirements for crypto derivatives

While the recent meeting of the G20 may not have established guidelines for how countries should—or shouldn’t—work with cryptocurrencies, there are still agencies of the European Union (EU) that are working to create regulations. The latest comes by way of an announcement by the European Securities and Markets Authority (ESMA), which has tightened the screws…

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0 to 50% – Time to Pay Crypto Taxes in the European “Union”

With the increasing popularity of bitcoin and the like, this year’s tax campaign in Europe comes with many questions on how to report and pay crypto taxes. Despite the obvious hesitation on the part of many governments to comprehensively regulate/legalize the sector, cryptocurrency incomes and profits “enjoy” special attention. Different decisions on the matter pose…

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European Union Can’t Ban Cryptocurrency Mining, Says EU Commissioner

An EU commissioner just clarified the legality of cryptocurrency mining in Europe. Mariya Gabriel, European Commissioner for Digital Economy and Society, has formally asserted that mining cryptocurrencies in Europe is legal and that miners only have to follow standard electricity rules. Also see: Seeking Regulation, Russian Regions Interested in Crypto Mining Subscribe to the Bitsonline YouTube channel for…

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