Indian Central Bank Playing by Same Anti-Crypto, Pro-CBDC Rules as China, EU

The head of the Reserve Bank of India (RBI), the subcontinent’s central bank, has again indicated that the government might seek to enact a crypto crackdown – while attempting to gazump the crypto sector by releasing a digital rupee. In an interview with CNBC-TV18, RBI Governor Shaktikanta Das appeared to take the same kind of tack that central banks

European Central Bank Petition EU Lawmakers for Stablecoin Veto Power

The European Central Bank has asked the EU parliament for veto powers when it comes to stablecoin projects such as Facebook's Diem and others.

ECB wants final say on the legal status of private stablecoins in the EU

The European Central Bank has demanded veto power from lawmakers in the European Union over private stablecoin projects like Diem. The European Central Bank has finally sent its formal opinion on crypto regulations to the European Commission. According to Reuters, the ECB has asked EU lawmakers for veto powers concerning private stablecoin projects like the Facebook-backed Diem. An excerpt from the ECB opinion document reads: “Where an asset-reference arrangement is tantamount to a payment system or scheme, the assessment of the potential threat to the conduct of monetary policy, and to the smooth operation of payment systems, should fall within the exclusive competence of the ECB.” As part of the demand for veto powers on stablecoins, the ECB has urged the EU to ensure that its ruling should be binding on all national authorities in the Euro Zone.

EU appoints major finserv firm to lead blockchain social media project

The initiative will assess 450 proposals aimed at boosting the integrity of social media posts with the help of blockchain technology over the next three years. The executive body of the European Union has appointed a major financial services firm to lead a three-year initiative aimed at boosting the integrity of social media posts using blockchain technology. Dubbed “TruBlo,” the project will oversee a wealth of blockchain development as part of the European Commission’s Next Generation Internet initiative.

Beyond Bitcoin? Little known project jumps 116% on €2.75M EU ‘new money’ grant

A currency that gains value through abundance, not scarcity? That's the object of a $3.3 million EU research project which doubled the value of an associated token overnight. A little-known blockchain project more than doubled in value overnight following the announcement of its involvement in a European Union digital economy research program.

France’s AMF Chairman Calls for New Approach to Proposed EU Crypto Regulations

The Chairman of France's AMF has called for a new and robust approach towards cryptocurrency regulations.

French regulator seeks changes in EU’s supervision of crypto sector

Chairman of French regulator Autorité des Marchés Financiers has proposed that authorities must find a new approach to crypto regulations in order to guarantee a level playing field in the EU.

EU politician reveals her conversion to crypto — Eva Kaili

"Lots of my friends lost their savings because banks suddenly shut down and nobody would guarantee their life savings.

Economists: CBDCs to ‘Flop’ if They Aren't Designed as Stores of Value

Source: Adobe/Сергей Шиманович Central bank digital currencies (CBDCs) could become a store of value, a new paper claims – a move that could help them avoid becoming “a gigantic flop.” These were the findings of two economics experts at the University of Wuerzburg, in Germany, who published their findings on the VoxEU portal, a media outlet run by the EU’s Center for

EU Seeks to Curb Reliance on US Dollar After American Sanctions Exposed Financial Infrastructure Vulnerabilities

The European Union (EU) is reportedly planning to reduce its reliance on the US dollar-based financial system, after American sanctions on Iran exposed the vulnerabilities of the bloc’s financial infrastructure.

Publisher of ‘Infinite Fleet’ Game Kicks Off Token Offering With $1M Tether Investment

The security token offering enables investors in select EU countries to share in future profits, Exordium says.

EU Parliament Receives Petition Seeking to Establish Crypto Crime Victims’ Fund

The petition asks the EU to take a tiny fee on crypto transactions to be pooled into a fund for victims of fraud and hacks.

Coinbase Issues a Public Apology to EU and UK Customers — Did Not Address Its Global Issues

Cryptocurrency exchange Coinbase published a statement addressing their UK and E.U.

Europeans Warn ECB Not To Mess With Privacy in Digital Euro

Over 40% of Europeans who participated in a recent consultation want a digital euro to ensure privacy protection – a suggestion that EU citizens will not take kindly to a digital currency that involves Big Brother-like monitoring of their transactions by central bankers.

EU Crypto Payment Processor To Remove XRP Following The SEC Charges

Over 4,000 merchants won't be able to use XRP as the Lithuanian-based cryptocurrency processor CoinGate will remove the token as of January 15th.

New Users and Regulations: Coinbase Explains The Cause of Issues Amid Latest Bitcoin Price Volatility

The growing number of newly-registered users on Coinbase caused issues for UK and EU customers, the company explained and apologized.

Coinbase Apologizes to UK and EU Customers Hit By Regulatory Lockouts

The mea culpa was mum on Coinbase's broader troubles in keeping global trading running smoothly.

Strike Visa Cards To Launch in US, EU, and UK Within First Half of 2021

Jack Mallers. Source: Twitter/@JackMallers Strike, a popular bitcoin (BTC) banking service by US-based Bitcoin Lightning startup Zap, aims to have their Strike Cards rolled out in countries on two continents in the first half of 2021. Per the rollout plan as presented by Zap founder Jack Mallers, Strike will be issuing the Strike Card in the US already in Q1 2021.

Blockchain tech in national elections: An experience from Romania

Romania is the first EU country to use a voting reporting tool that is based on blockchain technology for national elections. For the first time in Romania, the recent national parliamentary elections, which were held in November, used blockchain technology with the main purpose to guarantee the integrity of the electoral process and to strengthen its transparency.

EU firm’s head trader explains why euro stablecoins are hard to come by

The crypto world does not have a major euro-pegged stablecoin yet.

European Commission taking bids for blockchain pre-commercial procurement

European Union doubles down on commitment to investing in blockchain technology. The European Commission is inviting tenders for the European Union blockchain pre-commercial procurement, or PCP. In general, a PCP is a public sector purchase of research and development services to adapt new or emerging technology to its needs. This PCP will focus on developing a novel blockchain solution that builds on the EU legal framework such as the General Data Protection Regulation, the Electronic Identification, Authentication and Trust Services regulation and the Network and Information Systems directive. The process will involve awarding several research and development contracts in parallel to existing service providers considered to offer the best value-for-money. These providers will then develop solutions in phases, with a reduction in the number of contractors passing through to each subsequent phase. The PCP will be undertaken in cooperation with the European Blockchain Partnership, and will build on the work it has already carried out. The EBP was formed in April 2018 with a commitment to establish a European Blockchain Service Infrastructure. This aims to deliver EU-wide cross-border public services using blockchain technology. However, the ongoing work on the EBSI is focused on use cases that can be easily implemented using existing blockchain technologies. The PCP aims to fill the gap between existing solutions and a bespoke system that fully complies with the EU legal framework, security, robustness, interoperability and sustainability. As Cointelegraph reported, in September the EC and EBP announced plans to launch a pan-European regulatory sandbox by 2022. This latest invite for tenders would seem to cement the EU’s commitment to investing in blockchain and distributed ledger technology. The tendering process is open until Jan.

Why Europe Bests the US at Attracting Crypto Startups

The EU has created a common framework for regulating crypto across the economic bloc.

Crypto.com receives license approval from key EU regulator in Malta

Hong Kong-based digital assets exchange and app, Crypto.com has today announced that the cryptocurrency platform will receive in-principle approvals for a Financial Institution License, and a Class 3 The post Crypto.com receives license approval from key EU regulator in Malta appeared first on AMBCrypto.

Apple Faces Major Complaint for Tracking Code that Allegedly Violates EU Privacy Regulations

A complaint that alleges that Apple’s Identifier for Advertisers code (IDFA) is a privacy breach going against European laws has been filed.

EU will decide on digital euro in January 2021: ECB president

“At that point in time we will make the decision as to whether or not we go forward with the digital euro.” The president of the European Central Bank, Christine Lagarde, has said that the bank should reach a decision on releasing a digital euro early next year. In an online policy panel held on Nov.

EU Lawmakers Seek Access to Encrypted Signal, WhatsApp Chats: Reports

A European Union draft proposal has drawn criticism from privacy advocates, although it may not be the “back door” that some fear.

EU Resolution Draft Seeks to Bypass Encryption - Report

An alleged document has surfaced, per which the Council of the European Union is seeking to work with governments and industries to find a "balanced" way to bypass encryption and access people's personal electronic devices when a law enforcement investigation requires it, while still protecting one's privacy.

Fireblocks Hits $150 Billion Milestone, Plots European Expansion

The enterprise-grade digital asset platform is moving into France and Germany as EU lawmakers signal moves toward cryptocurrency adoption.

EU Court Confirms Cash Is a Constitutional Freedom

With states discussing the possibility of creating entirely digital currencies, the debate over the place of cash in society has only intensified.

EU Rejects Petition for Tax-Based Crypto-Crime Victims’ Fund

Victims of cryptocurrency-related crimes don’t warrant any special treatment, said the EU Parliament’s committee.

Eyeing EU Banks, Hex Trust Teams With SIA on Crypto Custody

A multinational payments firm is partnering with cryptocurrency custodian Hex Trust to help its European banking clients hold digital assets.

European Commission Opposes Crypto Fraud Compensation Fund: Victims Say Commission Cozying up to the Industry

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.

Chasing the hottest trends in crypto, the EU works to rein in stablecoins and DeFi

The proposed EU crypto market regulation will raise many compliance obstacles for the next Libra-like project seeking to operate in Europe.

Understanding the EU’s 6AMLD and the risk to your business

The changes brought about by 6AMLD will affect a lot of businesses, but there is still time to prepare for new rules. In January 2020, the European Union released its Fifth Anti-Money Laundering Directive to increase transparency while tackling fraud, money laundering and cybercrimes. The 5AMLD extended the scope of customer due diligence checks, introduced domestic and politically exposed persons, extended the creation of central registrars of beneficial ownership, and extended Anti-Money Laundering checks to majority-owned subsidiaries outside the European Union. Related: New EU AML compliance laws could disrupt the crypto industry In December 2020, an updated Anti-Money Laundering Directive, known as the 6AMLD, will come into effect around the world, and any organizations operating within the EU will need to comply with the new rules.

G7 will block Libra launch until regulations in place

“No global stablecoin project should begin operation until it adequately addresses relevant legal, regulatory, and oversight requirements.” In a draft of a statement expected to be released tomorrow, countries representing the world’s largest economies said that they would initially oppose the launch of Facebook’s Libra project. According to an Oct.