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 Court of Justice rules that Bitcoin is VAT exempt.

Following the appeal of David Hedqvist against the decision of the Swedish Tax Authority (Skatterverket) to tax Bitcoin transactions, the European Court of Justice (ECJ) have ruled that such transactions should be; "exempt from VAT...

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...

Regulatory Update – USA, EU and Spain

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

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...

Estonian Court confirms AML licensing requirement

Estonian Supreme Court this week confirmed on 11 April that digital currency exchanges are subject to anti-money laundering (AML) supervision. Uku Tampee from the Police and Border Guard Board states that services which provide alternative...

EU Ministers Jittering over Bitcoin After Paris Attacks

European Union member states plan to "crackdown" on digital currencies, anonymous payments and pre-paid cards in effort to combat terrorism financing in the wake of the Paris attacks, according to a draft memo shown to...

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...

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...