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1,000 cryptocurrency companies will be officially registered in the EU in 2023
The Czech Republic leads among all EU countries.
Italy, France, Spain, Estonia, the Netherlands, Bulgaria and Slovenia are among the 10 countries with the most cryptocurrency companies.
DL News reported that approximately 1,000 cryptocurrency companies within the European Union (EU) successfully obtained Virtual Asset Service Provider (VASP) licenses in 2023. The total number of these organizations is expected to reach 11,597 by the end of 2023, according to the new analysis.
The Czech Republic tops the list of most registered cryptocurrency companies, likely because both individuals and entities have the option to register as virtual asset service providers. About 83% of providers in the country are individuals rather than companies, according to DL News data.
Italy, France, Spain, Estonia, the Netherlands, Bulgaria and Slovenia are among the 10 countries with the most cryptocurrency companies.
DL News reported that approximately 1,000 cryptocurrency companies within the European Union (EU) successfully obtained Virtual Asset Service Provider (VASP) licenses in 2023. The total number of these organizations is expected to reach 11,597 by the end of 2023, according to the new analysis.
The Czech Republic tops the list of most registered cryptocurrency companies, likely because both individuals and entities have the option to register as virtual asset service providers. About 83% of providers in the country are individuals rather than companies, according to DL News data.
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Impact of new EU anti-money laundering legislation on cryptocurrency users
Summary:
• The European Parliament has banned transactions using unidentified self-hosted cryptocurrency wallets within the region as part of its broader anti-money laundering efforts.
• The ban targets anonymous cash transactions over €3,000 and self-hosted wallets on various platforms.
• Opposition voices argue that the ban could disproportionately affect law-abiding citizens and hinder financial privacy.
The European Parliament has taken a significant step by banning payments using unidentified self-hosted cryptocurrency wallets within the region.
A post on social media by EU Parliament member Patrick Breyer revealed that the ban was approved by a majority of the Parliament’s leadership committee on March 19. The move is part of the EU’s broader anti-money laundering (AML) legislation.
• The European Parliament has banned transactions using unidentified self-hosted cryptocurrency wallets within the region as part of its broader anti-money laundering efforts.
• The ban targets anonymous cash transactions over €3,000 and self-hosted wallets on various platforms.
• Opposition voices argue that the ban could disproportionately affect law-abiding citizens and hinder financial privacy.
The European Parliament has taken a significant step by banning payments using unidentified self-hosted cryptocurrency wallets within the region.
A post on social media by EU Parliament member Patrick Breyer revealed that the ban was approved by a majority of the Parliament’s leadership committee on March 19. The move is part of the EU’s broader anti-money laundering (AML) legislation.
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EU agency says cryptocurrency firms can sometimes offer services to non-European users
Foreign customers may be able to activate the services of an EU company.
The European Securities and Markets Authority (ESMA) said on January 29 that cryptocurrency companies in the EU can provide services to non-EU customers under certain circumstances.
ESMA wrote in a statement:
“The proposed guidance confirms ESMA’s previous information that, under MiCA, cryptoasset services provided by third country companies are limited to situations where the customer is the sole originator of the service.”
ESMA also said the allowance, known as the reverse solicitation exemption, was narrow in scope and was strictly an exemption.
The European Securities and Markets Authority (ESMA) said on January 29 that cryptocurrency companies in the EU can provide services to non-EU customers under certain circumstances.
ESMA wrote in a statement:
“The proposed guidance confirms ESMA’s previous information that, under MiCA, cryptoasset services provided by third country companies are limited to situations where the customer is the sole originator of the service.”
ESMA also said the allowance, known as the reverse solicitation exemption, was narrow in scope and was strictly an exemption.
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EU chooses Frankfurt for new anti-money laundering agency headquarters
Frankfurt has become the most suitable location for the headquarters of the European Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) agency.
The decision was taken following a voting process on February 22. Frankfurt beat other major cities such as Paris, Madrid and Rome. It is part of wider reforms following a series of high-profile money laundering scandals.
Frankfurt beat other leading contenders including Paris, Madrid and Rome in a competitive vote held on Thursday, February 22. The outcome of this vote could serve as a precedent for future decisions on the location of EU institutions.
The decision was taken following a voting process on February 22. Frankfurt beat other major cities such as Paris, Madrid and Rome. It is part of wider reforms following a series of high-profile money laundering scandals.
Frankfurt beat other leading contenders including Paris, Madrid and Rome in a competitive vote held on Thursday, February 22. The outcome of this vote could serve as a precedent for future decisions on the location of EU institutions.
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The EU plans to launch the digital euro in October
According to a report on ChainCatcher, European Central Bank President Lagarde has spoken out, and it seems this matter is really moving forward.
However, I heard that the legislation needs to be completed before the digital euro can be smoothly promoted. This legislation is not something that can be completed overnight, but since the EU has set October as the timeline, it is estimated that they already have a plan in mind.
The launch of the digital euro is a big deal for the financial markets in Europe and even globally. This is not just a new payment method, but a whole new financial ecosystem. When the time comes, researching it might even bring some benefits. #欧盟 #数字货币超话
Binance official chat room: 币安王牌KOL聊天室，点击进群
According to a report on ChainCatcher, European Central Bank President Lagarde has spoken out, and it seems this matter is really moving forward.
However, I heard that the legislation needs to be completed before the digital euro can be smoothly promoted. This legislation is not something that can be completed overnight, but since the EU has set October as the timeline, it is estimated that they already have a plan in mind.
The launch of the digital euro is a big deal for the financial markets in Europe and even globally. This is not just a new payment method, but a whole new financial ecosystem. When the time comes, researching it might even bring some benefits. #欧盟 #数字货币超话
Binance official chat room: 币安王牌KOL聊天室，点击进群
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EU to pass world's first AI legislation banning facial recognition in public places
The European Union (EU) is leading the race to regulate artificial intelligence (AI). Earlier today, the European Council and the European Parliament concluded three days of negotiations with a provisional agreement that will become the world's first comprehensive agreement on the regulation of artificial intelligence.
Carme Artigas, Spain’s Secretary of State for Digitalization and Artificial Intelligence, called the agreement a “historic achievement” in a press release. Artigas said the rules struck an "extremely delicate balance" between encouraging safe and secure AI innovation and adoption across the EU and protecting citizens' "fundamental rights."
Carme Artigas, Spain’s Secretary of State for Digitalization and Artificial Intelligence, called the agreement a “historic achievement” in a press release. Artigas said the rules struck an "extremely delicate balance" between encouraging safe and secure AI innovation and adoption across the EU and protecting citizens' "fundamental rights."
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EU banking regulator extends anti-money laundering guidance to cryptocurrencies
The European Union’s anti-money laundering and counter-terrorism financing guidelines have been extended to European cryptocurrency companies, following a decision by the region’s banking regulator.
The European Banking Authority (EBA) said on January 16 that the revised guidelines are intended to help cryptoasset service providers (CASPs) identify financial crime risks faced by their “customers, products, delivery channels and geographical locations.”
The guidance also outlines how cryptocurrency firms should adapt their measures to combat financial crime, which may include “the use of blockchain analytics tools,” the regulator added. This guidance will apply from December 30, 2023.
The European Union’s anti-money laundering and counter-terrorism financing guidelines have been extended to European cryptocurrency companies, following a decision by the region’s banking regulator.
The European Banking Authority (EBA) said on January 16 that the revised guidelines are intended to help cryptoasset service providers (CASPs) identify financial crime risks faced by their “customers, products, delivery channels and geographical locations.”
The guidance also outlines how cryptocurrency firms should adapt their measures to combat financial crime, which may include “the use of blockchain analytics tools,” the regulator added. This guidance will apply from December 30, 2023.
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ECB executive plans to launch digital euro CBDC in November 2025
As efforts continue to adopt a digital euro across Europe by the end of 2025, end users will have holding limits but businesses will not.
The European Central Bank (ECB) is moving forward with plans to launch a digital euro aimed at providing a pan-European digital payments solution to complement cash payments, according to ECB Executive Board member Piero Cipollone. Speaking at the Convegno Innovative Payments conference, Cipollone outlined the basic design choices and ideas behind the digital euro project, according to notes published on March 13.
As payment trends evolve, reflecting the growing preference for digital payments, the ECB seeks to make life easier by providing a public means of digital payments that can be used free of charge for any digital transaction in the euro area. Cipollone emphasized that the digital euro will bring cash-like characteristics to the digital world, including being available offline, free for basic use, respecting privacy, and having pan-European coverage.
The European Central Bank (ECB) is moving forward with plans to launch a digital euro aimed at providing a pan-European digital payments solution to complement cash payments, according to ECB Executive Board member Piero Cipollone. Speaking at the Convegno Innovative Payments conference, Cipollone outlined the basic design choices and ideas behind the digital euro project, according to notes published on March 13.
As payment trends evolve, reflecting the growing preference for digital payments, the ECB seeks to make life easier by providing a public means of digital payments that can be used free of charge for any digital transaction in the euro area. Cipollone emphasized that the digital euro will bring cash-like characteristics to the digital world, including being available offline, free for basic use, respecting privacy, and having pan-European coverage.
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Binance will stop using European Visa cards after three years
Support for payment cards will end on December 20, 2023.
Binance, the world’s largest cryptocurrency exchange, said in a blog post on October 20 that it would stop offering Visa debit card products in Europe.
The company said the cards will no longer be available in the European Economic Area (EEA) and existing cards will not work after December 20. The termination date comes just over three years from the card’s September 2020 launch date.
This policy change will affect users in nearly 40 supported European countries, including Germany, France, Italy, Spain, and Poland. Current reporting from Bloomberg suggests the change will affect about 1% of the company's user base.
Binance, the world’s largest cryptocurrency exchange, said in a blog post on October 20 that it would stop offering Visa debit card products in Europe.
The company said the cards will no longer be available in the European Economic Area (EEA) and existing cards will not work after December 20. The termination date comes just over three years from the card’s September 2020 launch date.
This policy change will affect users in nearly 40 supported European countries, including Germany, France, Italy, Spain, and Poland. Current reporting from Bloomberg suggests the change will affect about 1% of the company's user base.
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Bitcoin in danger: European Commission motion threatens EU mining ban
The European Commission (EC) has faced criticism from the crypto community over its proposed approach to calculating and mitigating Bitcoin’s “environmental” impact.
Daniel Batten, co-founder of CH4 Capital, expressed concern that the European Commission’s approach could lead to a mining ban in the EU and have a profound impact on the global Bitcoin community. Batten believes that the proposed metric is “unscientific” and ignores Bitcoin’s positive environmental externalities.
Bitcoin environmental impact methodology questioned
Daniel Batten said the approach proposed by the European Commission includes measuring the resource consumption of crypto assets “per transaction” and relying on reports of financial support from central banks and other entities to assess Bitcoin’s environmental impact.
Daniel Batten, co-founder of CH4 Capital, expressed concern that the European Commission’s approach could lead to a mining ban in the EU and have a profound impact on the global Bitcoin community. Batten believes that the proposed metric is “unscientific” and ignores Bitcoin’s positive environmental externalities.
Bitcoin environmental impact methodology questioned
Daniel Batten said the approach proposed by the European Commission includes measuring the resource consumption of crypto assets “per transaction” and relying on reports of financial support from central banks and other entities to assess Bitcoin’s environmental impact.
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$MEME
$PEPE
EU warning!
Musk's revenue from multiple companies
May be considered for fines on "X" platform
EU regulators made a big move on October 17, issuing a severe warning to social media platform "X": when calculating fines, the revenue of Musk's other businesses such as SpaceX and Neuralink may also be taken into account! This means that if "X" platform violates content review rules, the penalties it faces may soar!
According to the EU's Digital Services Act, online platforms that fail to properly address illegal content, false information, or fail to comply with transparency regulations may face fines of up to 6% of their global annual revenue. Now, regulators are considering including the sales of SpaceX, Neuralink, xAI and the Boring Company in the calculation of fines, which will undoubtedly make the potential fines even more staggering!
However, Tesla seems to be able to breathe a sigh of relief, because as a listed company, it is not under the full control of Musk, so its sales will not be included in the calculation of this fine. But even so, the "X" platform still needs to be vigilant. The potential fine amount is still under intense discussion, and a more violent regulatory storm may come at any time!
Of course, the "X" platform is not without a solution. As long as a way to address the concerns of regulators can be found, the attack of this punishment storm may be avoided.
But in this battle with EU regulators, whether the "X" platform can successfully get out of trouble still needs to be paid attention to!
Follow me and share the latest high-quality market information with you every day, so that you can make a fortune without getting lost.
#美国大选如何影响加密产业？ #热门话题 #欧盟 #meme板块关注热点 #pepe⚡
$PEPE
EU warning!
Musk's revenue from multiple companies
May be considered for fines on "X" platform
EU regulators made a big move on October 17, issuing a severe warning to social media platform "X": when calculating fines, the revenue of Musk's other businesses such as SpaceX and Neuralink may also be taken into account! This means that if "X" platform violates content review rules, the penalties it faces may soar!
According to the EU's Digital Services Act, online platforms that fail to properly address illegal content, false information, or fail to comply with transparency regulations may face fines of up to 6% of their global annual revenue. Now, regulators are considering including the sales of SpaceX, Neuralink, xAI and the Boring Company in the calculation of fines, which will undoubtedly make the potential fines even more staggering!
However, Tesla seems to be able to breathe a sigh of relief, because as a listed company, it is not under the full control of Musk, so its sales will not be included in the calculation of this fine. But even so, the "X" platform still needs to be vigilant. The potential fine amount is still under intense discussion, and a more violent regulatory storm may come at any time!
Of course, the "X" platform is not without a solution. As long as a way to address the concerns of regulators can be found, the attack of this punishment storm may be avoided.
But in this battle with EU regulators, whether the "X" platform can successfully get out of trouble still needs to be paid attention to!
Follow me and share the latest high-quality market information with you every day, so that you can make a fortune without getting lost.
#美国大选如何影响加密产业？ #热门话题 #欧盟 #meme板块关注热点 #pepe⚡
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On Robinhood’s motivation for launching new crypto app in Europe
Robinhood has opened its new cryptocurrency trading service to all eligible customers in the European Union, offering more than 25 cryptocurrencies, including Bitcoin, Ethereum, and XRP.
In a strategic move, popular online brokerage platform Robinhood has announced the launch of its cryptocurrency trading feature in Europe. The platform plans to expand its token range and introduce additional features in 2024, such as cryptocurrency transfers, staking, and educational rewards.
The development follows Robinhood's recent plans to expand outside the United States.
Robinhood launches cryptocurrency trading app
In a strategic move, popular online brokerage platform Robinhood has announced the launch of its cryptocurrency trading feature in Europe. The platform plans to expand its token range and introduce additional features in 2024, such as cryptocurrency transfers, staking, and educational rewards.
The development follows Robinhood's recent plans to expand outside the United States.
Robinhood launches cryptocurrency trading app
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Kraken may delist USDT in EU due to MiCA regulations
Kraken may delist USDT in the EU due to compliance with MiCA regulations. However, as of press time, a Kraken spokesperson said that there are currently no plans to delist Tether.
A recent report from Bloomberg mentioned that cryptocurrency exchange Kraken is considering delisting Tether (USDT) from its European Union (EU) platform in light of the upcoming Markets in Crypto Assets (MiCA) regulations.
The European Union is setting up MiCA regulations for cryptocurrency exchanges, specifically targeting stablecoins like Tether’s USDT. The rules, which will be enforced from July, could restrict how these stablecoins can be offered in the EU.
A recent report from Bloomberg mentioned that cryptocurrency exchange Kraken is considering delisting Tether (USDT) from its European Union (EU) platform in light of the upcoming Markets in Crypto Assets (MiCA) regulations.
The European Union is setting up MiCA regulations for cryptocurrency exchanges, specifically targeting stablecoins like Tether’s USDT. The rules, which will be enforced from July, could restrict how these stablecoins can be offered in the EU.
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EU to announce landmark legislation regulating ChatGPT and AI technologies
EU members grapple with and reach consensus on the complexities of introducing AI regulations for platforms like ChatGPT.
As new developments in the field of artificial intelligence (AI) proceed at lightning speed, the European Union is also on the verge of reaching a landmark agreement to regulate platforms such as ChatGPT and other AI technologies.
EU lawmakers discuss regulating ChatGPT
During a lengthy meeting on Wednesday, December 6, negotiators reached consensus on the regulation of generative artificial intelligence (AI) tools such as OpenAI Inc.’s ChatGPT and Google’s Bard. The agreement was reached through discussions between the European Commission, the European Parliament and representatives of the 27 member states, bringing them closer to finalizing the comprehensive legislation known as the Artificial Intelligence Act.
As new developments in the field of artificial intelligence (AI) proceed at lightning speed, the European Union is also on the verge of reaching a landmark agreement to regulate platforms such as ChatGPT and other AI technologies.
EU lawmakers discuss regulating ChatGPT
During a lengthy meeting on Wednesday, December 6, negotiators reached consensus on the regulation of generative artificial intelligence (AI) tools such as OpenAI Inc.’s ChatGPT and Google’s Bard. The agreement was reached through discussions between the European Commission, the European Parliament and representatives of the 27 member states, bringing them closer to finalizing the comprehensive legislation known as the Artificial Intelligence Act.
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💼Standard Chartered Bank establishes a physical presence in Luxembourg, entering the EU cryptocurrency custody sector
Standard Chartered Bank has recently set up a new entity in Luxembourg, specifically responsible for cryptocurrency custody services in the EU, marking a key step in their provision of custody services for crypto and digital assets to EU clients.
The initial focus of this entity will be on Bitcoin (BTC) and Ethereum (ETH), with plans to expand services to other assets later in 2025.
Why choose Luxembourg? The main reason is that Luxembourg's regulatory and financial environment is well-balanced, adequately meeting the needs of EU clients for Bitcoin custody services.
Before starting operations in Luxembourg, Standard Chartered Bank launched Bitcoin and Ethereum custody services in the United Arab Emirates (UAE) and collaborated with Brevan Howard Digital. These actions are part of its global strategy aimed at expanding digital asset products following the implementation of the MiCA regulation.
According to the MiCA regulation, cryptocurrency exchanges recognized as Crypto Asset Service Providers (CASP) must adhere to a very strict framework to operate in the EU. They must first obtain authorization from national regulatory authorities, meet financial stability benchmarks, and ensure operational transparency.
Simultaneously, these exchanges are required to implement robust consumer protection measures, including clear service terms, transparent fee disclosures, and strong security systems to safeguard user funds and data. They also need to maintain operational transparency by reporting trading volumes, disclosing conflicts of interest, and keeping detailed trading records.
Additionally, the anti-money laundering (AML) provisions of MiCA require exchanges to execute “know your customer (KYC)” processes and monitor suspicious transactions, retaining data to assist relevant authorities in investigations.
However, meeting these standards can be challenging, necessitating advanced compliance technology and significant resource investment. Smaller exchanges, in particular, face immense pressure in meeting financial stability requirements and navigating complex compliance infrastructures.
💬 What do you think of Standard Chartered Bank's move? Does it mean that cryptocurrency custody services will become increasingly regulated and widespread in the EU? Feel free to leave your thoughts in the comments section!
#渣打银行 #加密货币托管 #欧盟 #数字资产
Standard Chartered Bank has recently set up a new entity in Luxembourg, specifically responsible for cryptocurrency custody services in the EU, marking a key step in their provision of custody services for crypto and digital assets to EU clients.
The initial focus of this entity will be on Bitcoin (BTC) and Ethereum (ETH), with plans to expand services to other assets later in 2025.
Why choose Luxembourg? The main reason is that Luxembourg's regulatory and financial environment is well-balanced, adequately meeting the needs of EU clients for Bitcoin custody services.
Before starting operations in Luxembourg, Standard Chartered Bank launched Bitcoin and Ethereum custody services in the United Arab Emirates (UAE) and collaborated with Brevan Howard Digital. These actions are part of its global strategy aimed at expanding digital asset products following the implementation of the MiCA regulation.
According to the MiCA regulation, cryptocurrency exchanges recognized as Crypto Asset Service Providers (CASP) must adhere to a very strict framework to operate in the EU. They must first obtain authorization from national regulatory authorities, meet financial stability benchmarks, and ensure operational transparency.
Simultaneously, these exchanges are required to implement robust consumer protection measures, including clear service terms, transparent fee disclosures, and strong security systems to safeguard user funds and data. They also need to maintain operational transparency by reporting trading volumes, disclosing conflicts of interest, and keeping detailed trading records.
Additionally, the anti-money laundering (AML) provisions of MiCA require exchanges to execute “know your customer (KYC)” processes and monitor suspicious transactions, retaining data to assist relevant authorities in investigations.
However, meeting these standards can be challenging, necessitating advanced compliance technology and significant resource investment. Smaller exchanges, in particular, face immense pressure in meeting financial stability requirements and navigating complex compliance infrastructures.
💬 What do you think of Standard Chartered Bank's move? Does it mean that cryptocurrency custody services will become increasingly regulated and widespread in the EU? Feel free to leave your thoughts in the comments section!
#渣打银行 #加密货币托管 #欧盟 #数字资产
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