On Monday, March 14, the European Blockchain Observatory announced a call for tenders to contract a consortium, whose mission will be to facilitate and operate a pan-European regulatory sandbox for distributed ledger technologies, or DLT, and blockchain in particular. A major task for the future consortium will be to provide “comprehensive legal advice” concerning the operation of the core services of the European Blockchain Services Infrastructure (EBSI). The regulatory sandbox is envisaged as a space where regulators, blockchain enterprises and users will interact “in a trusted environment.” In addition to already existing EBSI projects, it will host a broad range …

Earlier today, members of the European Parliament’s Committee on Economic and Monetary Affairs in the European Parliament voted against a version of the Markets in Crypto Assets, or MiCA, bill that could have effectively banned the proof-of-work-based cryptocurrencies within the EU. This comes as a huge relief for the crypto industry, whose representatives had previously warned about the threat of a hardline regulatory scenario. MiCA is a regulatory framework that contains 126 articles, as well as a detailed plan of their implementation by the EU’s and member states’ institutions. The draft was introduced by the European Commission back in 2020 …

As Russia’s self-styled “special operation” against Ukraine continues, crippling economic sanctions remain the Western powers’ primary weapon to counter Russia’s military actions without triggering an even more dramatic escalation. As NATO and allies’ financial offensive unfolds, ensuring that the collective West presents a united front remains political leaders’ chief concern. The global crypto industry keeps getting suspicious looks as some agents of state power are seemingly entrenched in their beliefs that digital assets could be the weak spot undermining the efficiency of the sanctions push. Despite ample evidence to the contrary — including the FBI director’s Congress testimony — there …

The legal standing of Bitcoin mining in the European Union hinges on the results of a March 14 vote in the European Parliamentary Committee on Markets in Crypto Assets (MiCA). A controversial line concerning the “minimum environmental sustainability” of crypto mining has been reintroduced to the bill after previously being taken out. The new line would require blockchain operators to submit a rollout plan detailing how they will come into environmental sustainability compliance. Failure to submit a plan may prohibit coins from being mined or traded in the EU. Although it is not specifically stated, the bill would directly affect …

It has been two weeks since Russia kicked off the first large-scale military action in Europe in the 21st century — a so-called “special operation” in Ukraine. The military conflict immediately triggered devastating sanctions against the Russian economy from the United States, the European Union and their allies and has put the crypto industry in a position that is both highly vulnerable and demanding. As the world watches closely, the crypto space must prove its own standing as a mature and financially and politically responsible community, and it must defy the allegations of being a safe haven for war criminals, …

Amid global businesses boycotting the Russian residents over military conflict in Ukraine, some companies in the cryptocurrency industry stand up for the rights of non-sanctioned Russian citizens. Bitfinex, an affiliate firm of the world’s largest stablecoin provider, Tether (USDT), will not unilaterally freeze the accounts of ordinary Russian customers as part of the global sanctions unless it's forced to do so, a spokesperson for Bitfinex told Cointelegraph on Thursday. The representative emphasized that Bitfinex has taken appropriate action against the accounts of Russian users who have been sanctioned. “As with all our customer accounts, we work to ensure that there …

According to recent media reports, six European countries, led by Germany, are working on launching an Anti-Money Laundering (AML) body that will include the cryptocurrency market in its purview. Details remain scarce, but it is known that the initiative involves Germany, Spain, Austria, Italy, Luxembourg and the Netherlands. The group is working on “the remit and design” of a new international AML watchdog force that will have a particular emphasis on crypto, and the European Commission — the key executive institution of the European Union — will be the primary platform for the discussion. How will the move affect the …

Rising prices are grabbing headlines all over the world. Across the pond in the United States, inflation recently broke a 40-year record. The situation is severe in Europe, with prices rising over 5% across the Eurozone and 4.9% in the United Kingdom. While prices rise, Bitcoin (BTC) is flatlining at around $39,000. It poses many questions: Is Bitcoin an effective hedge against rising prices, what role can Bitcoin play in a high inflation environment and did Bitcoiners know that inflation was coming? Experts from the world of Bitcoin, finance and even European politics responded to these questions, sharing their views …

The European Commission has clarified that crypto assets will fall under additional sanctions targeted against Russia and Belarus in response to the military conflict in Ukraine. In a Wednesday statement, the European Commission said member states had agreed to amend regulations with the goal of ensuring “even more effectively that Russian sanctions cannot be circumvented, including through Belarus.” The commission said crypto assets fell under the scope of “transferable securities,” adding that loans and credit provided using crypto would not be permitted as part of these restrictive financial measures. We are further tightening the net of sanctions responding to Russia’s …

The parliament of the European Union has scheduled a vote on a framework aimed at regulating cryptocurrencies after addressing concerns over proof-of-work mining. In a Monday Twitter thread, European Parliament economics committee member Stefan Berger said the committee will vote on the Markets in Crypto Assets, or MiCA, framework on March 14 following the submission of a final draft of the bill. As the rapporteur — the person appointed to report on proceedings related to the bill — Berger said the legislation will no longer include text which some interpreted as a possible ban on proof-of-work crypto mining. “With MiCA, …

The global crypto derivatives and spot trading exchange FTX is expanding to Europe after receiving approval from the Cyprus Securities and Exchange Commission (CySEC). The new venture called FTX Europe would offer leading products of the company to the European clients via a licensed investment firm across the European economic area. The new European venture is headquartered in Switzerland along with a regional headquarters in Cyprus. Cyprus is seen as one of the reputed jurisdictions that offers a regulated medium for financial firms to access the European economic area. Thus, FTX would be able to offer its derivative crypto products …

The city of Lugano, the economic capital of Italian-speaking southern Switzerland, is adopting cryptocurrencies for tax payments as part of a new collaboration with the provider of Tether (USDT) stablecoin. Tether Operations Limited, the blockchain-based platform that powers USDT, the world’s largest stablecoin by market capitalization, has signed a partnership with the administration of Lugano, according to a joint announcement on Thursday. Tether and the city administration have established a center of excellence for blockchain adoption with a goal to become a major European blockchain hub. The collaboration intends to demonstrate the real-world use cases of blockchain by applying it …