Paris-based derivatives fund manager Melanion Capital has launched a new, European Union-regulated fund that aims to track the price of Bitcoin (BTC) at a correlation of up to 90%. The fund is the first of its kind to be issued under the EU’s investment fund umbrella UCITS — an acronym for “undertakings for the collective investment in transferable securities.” According to the European Commission’s data, UCITS-compliant funds account for roughly 75% of all collective investments by small investors in Europe. UCITS provides a framework for regulation at the European, rather than national, level and places exacting demands on fund managers. …
63% of Europeans are confident that crypto will still exist in 10 years, according to new research from bitFlyer. London-based fintech publication FStech reported on the survey on April 24. Tokyo-based crypto exchange bitFlyer, which was licensed to operate in the European Union in 2018, reportedly polled 10,000 respondents in Europe to find out what they think about cryptocurrencies such as bitcoin (BTC). The exchange reportedly surveyed the following ten countries: the United Kingdom, Belgium, Denmark, France, Germany, Italy, Netherlands, Norway, Poland and Spain. When asked about crypto in general, the majority of Europeans claimed that they believe that crypto …
France is reportedly going to try to convince other European Union member states to adopt cryptocurrency regulations similar to its own, Reuters reported on April 15. Bruno Le Maire, French Minister of the Economy and Finance, reportedly stated that France will encourage other EU countries to adopt cryptocurrency regulations similar to those France approved last week. The news rules reportedly aim to attract cryptocurrency issuers and traders to France by providing them some official recognition, while taxing their profits in return. Per the newly adopted regulation, cryptocurrency operators will have to apply for a certification that would purportedly enable authorities …
French insurance markets can now invest in cryptocurrencies, following the passage of a new law, foreign exchange news agency FXStreet reports April 11. On April 11, the National Assembly of France adopted a bill that is designed to stimulate local business development, including redirecting savings from individuals to businesses, according to local news agency Les Echos. According to Reuters, the Assemblee Nationale voted 147 in favor and 50 against. Known as “Plan d’action pour la croissance et la transformation des entreprises,” (Pacte) the act reportedly allows insurance providers in France to invest in cryptocurrencies such as Bitcoin (BTC) with no …
Major U.S. cryptocurrency wallet and exchange Coinbase has entered the crypto gift card market, allowing customers in certain countries to exchange coins for brand e-certificates, according to their July 25 blog post. In the post, Coinbase confirmed the new option was made possible through a partnership with UK-based startup WeGift, and will effectively allow cryptocurrency holders to pay for goods and services through brands such as Nike, Tesco, Uber, Google Play, Ticketmaster, and Zalando: “Starting today, Coinbase customers in the EU and Australia are able to instantly spend their cryptocurrency balances on e-gift cards, making us the first trading platform …