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 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...

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...

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...

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...

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...

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...

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...

Regulatory Update – USA, EU and Spain

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

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...