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With expectations for an updated legal and regulatory mechanism toward virtual funds, experts state the EU might place a more hard-line attitude on cryptos. As specified in the recent media reports, 6 EU member states, namely, Austria, Germany, Italy, Spain, Luxembourg, and the Netherlands are on their way of implementing an AML law that will…

In light of quickly emerging new projects stored on blockchain, the EU sets the first rules to regulate cryptocurrencies. EU authorities agreed on the adoption of legal mechanisms that would oversee the cryptomarket, obliging businesses to apply for authorizations to operate and provide services to users. Although the proposal still has to go via Brussel’…

European Blockchain Services Infrastructure: main points The EU is on its way to introducing its European blockchain services infrastructure (in short, EBSΙ), to publicly operated sector which should shortly interact with privately owned facilities. The EBSΙ represents a P2P system of interrelated nodes operating a blockchain-grounded services system. Nodes will be run by the EBP…

Reaching a provisional approval on the scope and direction of the MiCA proposal, the EU has brought virtual assets and VASPs under a common regulative system. These legal mechanisms that focus on regulating the risks related to crypto-assets, will guarantee the security of crypto holders and safeguard the smooth operation of the crypto market, whilst…

DeFi is one of the top current blockchain technology-related trends. The DeFi space is highly extensive, including many directions and use cases, being associated not only with cryptocoins. Read on to figure out what are the pros and cons of decentralized cryptocurrency. What is DeFi? First thing first, it should be specified what is included…

The Digital Europe Programme is an innovative EU financing program launched with the purpose to bring DLT to individuals, legal entities, and public administrative bodies. It tries to cover many facets including how to make the European Union more ecologically friendly and more digital – these two pillars are probably the most challenging for our…

The EU fairly is considered a standard-setter in decentralization, turning into a center to many facilities and firms. The formation and introduction of blockchain strategy in the EU have opened new horizons: individuals and legal entities can mutually record and collect data without a 3rd-party authority. As a matter of fact, blockchain strategies are already…

Recently, a series of new steps in the development of the EBSI was implemented by the EBP. EBSI is a joint initiative of EBP, consisting of 29 states and Commission which represents a system of blοckchain nodes across the EU, being in full respect of European values and regulation. The right to take part for service providers…

The EU Commission takes an active participation in the blockchain-standard community aiming to use innovative approaches in blockchains to help combat ecological problems. Introducing comprehensive answers on the grounds of blockchain for climate action, the EU lawmaker presented a set of approaches that are expected to be workable. Blockchain & global warming Blockchain is a…

Spanish Bank formed a register for organizations dealing with virtual currency exchanges for fiat, and creation of e-wallets. New legislative act says that crypto providers must be certified. Crypto license in Spain, which is also required for all firms wishing to operate in this sector, entitles them to spread above-mentioned services. A penalty for desire…

In 2014, when virtual currencies began to be used in Philippines, Bangko Sentral made a statement that these funds were not subject to any regulation by the authorities. At that time, crypto-currencies were defined type of money that had no guarantees and was not issued by the Central Bank, and which could be used to…

In 2019, Bahamian official body performing control over securities introduced Bill DARE 2019 for cryptocurrencies and cryptoexchanges regulations. This regulatory act establishes provisions for control of trading operations with virtual tokens. Additionally, law also regulates activities of firms offering intermediary bases in this direction. The DARE license in Bahamas gives rights to carry out activities…