Regulatory Update – USA, EU and Spain

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

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...

ESMA takes ‘wait and see’ approach in relation to DLT.

ESMA takes ‘wait and see’ approach in relation to DLT. ESMA stresses that MIFID/EMIR and other EU regulations are “technology agnostic”. This means institutions using blockchain technology “need to consider existing rules when designing DLT...

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...

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 Commission to propose Central Database of Virtual Currency Users

The EU Commission in its latest proposal to regulate virtual currency exchanges and custodian wallets (Proposal) suggests a further amendment to the 4th Anti-Money Laundering Directive (4AMLD) which may result in the creation of...

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...

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...

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 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...