EU Update on Application of Enhanced Due Diligence to VC Exchanges

Bitlegal has been in communication with the EU commission surrounding the regulation of digital currency exchanges under 4AMLD. We have been concerned that the requirement from FATF that enhanced due diligence measures (EDD) be conducted...

On the Cusp of a EU Digital Currency Taskforce

You may recall that a Report was produced by Jakob Von Weizsäcker to set up a Virtual Currency Taskforce. This is being voted on today in the EU Parliament. If passed (which is most...

Crypto Compliance Tools – a Growth Industry?

The EU Commission recognised back in October 2015 (regarding virtual currencies) that “Law Enforcement Agencies (LEAs) are often lagging behind when tackling criminal activities supported by "advanced" technologies.” They suggested to provide grant funding (up to EUR5m) to...

Regulatory Update – USA, EU and Spain

https://www.youtube.com/watch?v=BMXVrfCZjXg

EU Commission Proposal: Virtual Currency Exchanges and Custodians to be Regulated under 4AMLD by...

The EU Commission has proposed an amendment (Proposal) to Article 2 of Directive 2015/849, namely the 4th Anti-Money Laundering Directive (4AMLD), “in order to add to the list of obliged entities virtual currency...

Poland Ministry of Finance Calls for EU-Level Bitcoin Regulation

Poland’s Ministry of Finance has stated that digital currencies, due to their cross-border characteristics, should be regulated at the EU level and that the Polish Government would not create own regulation.. The opinion was written...

European Union – Policy Summary for Regulation of Virtual Currency

EUROPEAN COMMISSION COM(2016) 50/2 Published in February 2016 COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT AND THE COUNCIL on an Action Plan for strengthening the fight against terrorist financing “Virtual currency exchange platforms: There is a risk...

EU Economic Committee supports creation of Digital Currency Taskforce

The EU Parliament's Economic and Monetary Affairs Committee by 54 votes to 1 voted to support Jakob Von Weizsäcker’s proposal to set up a ‘taskforce’ to “build up the necessary expertise in the underlying...

EU to Regulate Cryptocurrency Exchanges

EU Commission to push forward implementation of 4th Anti-Money Laundering Directive (4AMLD). EU Commission has also tabled amendments to 4AMLD to regulate all cryptocurrency exchanges in EU.Also mentioned they will look into whether to regulate exchanges...

EBA’s Opinion on Proposal to Regulate Virtual Currency Exchanges/Wallets

The EBA have reviewed the EU Commission's proposal to regulate VC exchanges and wallets and have provided their Opinion on the matter. They have interpreted the Commission's proposal as requiring VC exchanges/wallets to register in...