Major cryptocurrency event, Consensus 2020, has officially kicked off in virtual mode. Consensus: Distributed, Coindesk’s first ever fully virtual conference, featured European Central Bank (ECB) key legal official, Yves Mersch, as the first speaker. On May 11, ECB board member Mersch delivered an exclusive keynote devoted to central bank digital currencies (CBDC), a central bank digital currency that can be used by consumers. Speaking at 6:45 a.m. ET, the ECB official outlined that the bank is mainly focused on a retail implementation of CBDC. The ECB voices its focus on retail CBDC implementation Opposing retail CBDCs to wholesale central bank …

A report compiled by non-profit research institute, dGen, has found that European crypto miners believe that the region’s higher electricity prices when compared to China and Russia are offset by political stability, robust regulation, and strong protections. The study also found that many miners based in Europe feel prepared for the Bitcoin (BTC) block reward halving, emphasizing that higher electricity prices have forced many miners to invest in highly efficient technologies. Robust regulation offsets expensive electricity in Europe F2Pool’s global business director, Thomas Heller, stated that “[h]igher electricity prices are offset by smoother business, better regulation, and more protection,” adding …

As the Bitcoin halving approaches, miners across the world have been forced to make adjustments in order to adapt. The halving will see Bitcoin’s (BTC) production cost double overnight, but luckily the cryptocurrency has been reacting positively to the upcoming event. While almost everyone in crypto is bullish about the event, and with good reason, the path ahead for Bitcoin’s price post-halving is unknown, especially given the coronavirus pandemic and the massive wave of unemployment that has come with it. While it may be a stressful event for holders of Bitcoin, it is even more so for those that have …

Global losses from cryptocurrency fraud and theft surged massively in 2019, doubling from 2018. Despite multiple efforts to tackle fraudulent crypto schemes, countries like Belgium continued to suffer losses to crypto fraudsters. According to a May 8 report by Belgian newspaper De Tijd, Belgium’s economic inspectorate reported 2.94 million euros ($3.2 million) in losses due to cryptocurrency fraud in 2019. Figures continue to grow, but real numbers are apparently unreported The recent figures show that the number of crypto fraud cases in Belgium has been growing in recent years. In 2018, Belgian’s Federal Public Service, known as FPS Economy, reported …

Major cryptocurrency exchange Binance has hired banking and fintech veteran Teana Baker-Taylor to lead its expansion in the United Kingdom and European market. Baker-Taylor has over 20 years of experience in HSBC, Citi, and the Royal Bank of Scotland, and was the executive director of U.K.-headquartered blockchain and digital assets industry body Global Digital Finance. In 2018 and 2019, she was recognized as one of the most influential women in fintech globally by Innovate Finance and was also awarded the Blockchain Leader award by Women In Tech in 2019. In an interview with Cointelegraph on May 8, Baker-Taylor said: I …

Analysts have revised down their forecasts for European enterprise spending on blockchain development in the next few years due to the economic aftershocks of the COVID-19 pandemic. In a report published on May 5, United States-based market research firm International Data Corporation (IDC) said it expects the slowdown to be temporary and unevenly distributed across sectors. Prior to the crisis, IDC had forecast that European blockchain spending would be $1.4 billion in 2020, with strong growth of 58% compound annual growth rate (CAGR) to 2023. Carla La Croce, co-lead of IDC European Blockchain Practice, explained that: With depressed customer demand, …

The Netherlands’ central bank, De Nederlandsche Bank (DNB), has issued an ultimatum to all fiat-supporting cryptocurrency service providers to register with the institution by May 18. In a news release published on May 4, the DNB told companies that following the Dutch Senate’s vote in favor of an Implementation Act amending the European Union’s fourth Anti-Money Laundering Directive on April 21, the Act’s statutory requirements will soon be coming into force. The strict two-week deadline to register with the DNB is only necessary for those providers offering fiat-crypto conversion services or cryptocurrency custody. Companies’ draft registration applications will have their …

In a recent in-depth report on global stablecoins, the European Central Bank, or ECB, pushed for clear regulatory parameters for stablecoins, citing risks as well as gaps in current regulations. "In order to reap the potential benefits of global stablecoins, a robust regulatory framework needs to be put in place in order to address these risks before such arrangements are allowed to operate," the ECB wrote in its May 5 report. The deep dive sees potential, but not without risks The ECB's report noted several benefits around international stablecoins, including speed and simplicity — aspects the public deems important. The …

German security token offering (STO) platform Black Manta Capital Partners partnered with local digital asset custody firm Finoa to develop institutional security token custody. According to an announcement shared with Cointelegraph on May 4, the cooperation aims to develop a regulated security token custody solution explicitly aimed at institutional investors, high net worth individuals and corporations. Black Manta and Finoa will first collaborate on securing the tokens of the Berlin STO that has tokenized $12 million worth of real estate announced last month. Per the announcement, Finoa is a Berlin-based digital asset custodian that holds a crypto custody license issued …

On April 27, Brave browser filed a complaint urging the European Commission to take action against EU governments that fail to adequately protect their citizens. A recent report compiled by the Brave team concludes that most EU member states do not adequately staff their General Data Protection Regulation, or GDPR, enforcers: “Only five of Europe’s 28 national GDPR enforcers have more than 10 tech specialists. Europe’s GDPR enforcers do not have the capacity to investigate Big Tech.” Source: Brave Regulators can’t afford to fight for privacy Furthermore, the report stipulates that the enforcement agencies are underfinanced, which leads to reluctance …

Europeans are getting more confident about the future of the cryptocurrency industry amid the coronavirus pandemic, according to a new report. People in Europe are becoming more optimistic about the Blockchain space. In 2020, more Europeans believe that crypto will exist in 10 years than ever before, bitFLyer exchange reported on April 29. Amount of crypto believers in Europe edges up 3% in 2020 According to a new survey by bitFLyer, the number of Europeans who believe that crypto will still exist in 10 years has edged up from 63% in 2019 to 66% in 2020. The survey is part …

A blog post from the European Central Bank (ECB) discusses the importance of resilient payment mechanisms. While the report focuses on legacy systems, it also mentions novel blockchain-based technologies like the digital euro. Published on April 28 and authored by Fabio Panetta, a member of the bank’s executive board, the report highlights that the continuity of payment systems is a critical task for the central bank, especially in times of crisis. The traditional competitor to blockchain technology The report focused heavily on praising the Target Instant Payment System (TIPS), launched in November 2018. This instant payment network launched by the …