The International Association for Trusted Blockchain Applications (INATBA), a distributed ledger technology initiative established by the European Commission (EC) last year, has appointed former Bitfury Group global ambassador Marc Taverner as the first INATBA executive director on March 5. INATBA was launched through collaboration between the 26 members of the EC’s European Blockchain Partnership during April 2019. The association seeks to bring together industry leaders, policymakers, standard-setting bodies to support the mainstream adoption of distributed ledger technology across multiple economic sectors. Cointelegraph spoke to Taverner to discuss his role as the INATBA executive director, the association’s objectives for the blockchain …

To combat the alleged risks associated with crypto assets and their networks, Her Majesty’s Treasury, the United Kingdom’s finance and economics department, has added additional measures. The new Money Laundering Regulations, or MLRs position the U.K.’s Financial Conduct Authority (FCA) as the Anti-Money Laundering (AML) overseer for certain crypto objectives, Director of Retail and Regulatory Investigations, Therese Chambers said in a March 6 speech. These MLRs go “beyond the 5MLD to include a broader set of activities, such as Initial Coin Offerings (ICOs), as recommended by FATF last year,” Chamber’s said. The EU already has strict AML The European Union, …

In an exclusive interview with Cointelegraph, Crypto Valley Association President Daniel Haudenschild said that central bank digital currencies are “the next logical stage.” Haudenschild explained to Cointelegraph that he believes CBDCs are the next stage “in evolution for decentralized finance.” He also claimed that there are currently 34 CBDC projects. According to him, such digital currencies represent a new era of governments and traditional finance that recognize the potential of digital assets. Central banks innovate to avoid being left behind Fear of being left behind, Haudenschild admitted, is a major force driving countries to innovate, “Undoubtedly, the drive of digital …

A French commerce court has classified Bitcoin (BTC) as currency during a recent trial. Local news outlet Les Echos reported on March 5 that the Commercial Court of Nanterre decided on Feb. 26 to qualify Bitcoin as a fungible interchangeable asset that is not individualizable, just like fiat money. The ruling was part of a dispute between French cryptocurrency exchange Paymium and alternative asset investment firm BitSpread. Per the report, Paymium loaned 1,000 BTC (over $9.1 million as of press time) to BitSpread in 2014. When holding the leased 1,000 BTC, BitSpread also got hold of 1,000 Bitcoin Cash (BCH) …

Organizers in Paris have rescheduled a major local blockchain industry event due to the coronavirus outbreak. According to an announcement on March 2, the Paris Blockchain Week Summit — initially meant to take place from March 31 to April 1 — is now expected to take place on Dec. 9–10. The organizers rescheduled the event due to recent guidelines issued by the French government which prohibit large gatherings that could increase the scope and severity of the coronavirus outbreak. A major industry event The announcement stated that the conference will proceed as expected and “the venue, schedule and setup remain …

The Malta Financial Services Authority (MFSA) has released feedback on the definition of security tokens and challenges such assets face in Maltese markets. In a paper published on Feb. 25, the agency gave feedback on security token offerings (STO) from 18 industry stakeholders, including national agencies, regulated businesses, technology providers, law and consultancy firms, among others. The MFSA initially asked industry stakeholders to provide their opinions and advice on the definition of STOs last July. It also asked for their assistance in interpreting the challenges STOs face within the existing legal framework. The MFSA noted the absence of clear definitions …

Besides China’s ongoing struggle with the coronavirus, one of the defining narratives for the world’s largest country entering the new decade was its central bank-issued digital currency. Reportedly in its final phase of testing and ready for rollout in 2020, the Chinese CBDC has sparked speculation and intrigue from governments around the world. Just recently, a Federal Reserve governor detailed how the United States central bank is exploring digital currencies following reports of interest over the last several months. The Bank for International Settlements and several European banks have also touched on the subject, revealing a warming disposition to a …

United Kingdom-based digital bank Revolut has raised $500 million in a fresh funding round and tripled its valuation to hit $5.5 billion. This, as the Financial Times reported on Feb. 25, makes the crypto-supporting app one of Europe’s most valuable fintech firms. Since late 2017, Revolut’s app has enabled its users to complete transactions in cryptocurrencies that include Bitcoin (BTC), Litecoin (LTC), Ether (ETH) and XRP. In Dec. 2018, the firm received a banking license in Lithuania, paving the way for a transition away from prepaid cards toward offering a fuller suite of banking services. Valuation equals erstwhile record for …

Blockchain usage is exploding around the world. But despite the technology’s many vocal advocates, the spread of technology is never even. Adoption is limited by a number of factors, including infrastructure development, local resources and regulation. As happens with the spread of any emerging technology, certain regions are pulling ahead of the pack. Radoslav Dragov, the blockchain lead for the International Data Corporation, explained that there are a number of factors that can create favorable conditions for adoption, varying from investment to talent, adding: “Beyond these factors, blockchain investment is very much influenced by current and upcoming regulation, and the …

Dubliner Clifton Collins, who was recently imprisoned for drug trafficking, claims that robbers took the keys to the $56 million in Bitcoin (BTC) Irish High Court had ruled should be confiscated. After obtaining more than 6,000 BTC by 2017, Collins decided to insure himself against hackers by distributing the cryptocurrency across 12 newly created accounts. Thus, he transferred 500 BTC into each of them, the Irish Times reported on Feb. 21. As of press time, that would leave each wallet worth roughly $4.87 million. A punishment for his own stupidity? Collins then printed out the keys for all of his …

Belgium’s Financial Services and Markets Authority (FSMA) has updated its blacklist of cryptocurrency-related websites associated with fraudulent activity. The FSMA made the update following a number of complaints from Belgium-based users who dealt with fraudulent offers of investment in digital currencies, according to a Feb. 21 announcement. After the latest revision, the FSMA’s list now includes a total of 141 websites offering cryptocurrency-related services. Raising awareness of crypto-related risks The FSMA further warned that the list is based on customer reports and the agency’s own findings, meaning that it does not include all the crypto-related businesses that might be illegally …

While Bitcoin (BTC) might not be ready for the moon yet, its underlying technology of blockchain is being increasingly adopted in space. The European Space Agency (ESA), a major intergovernmental organization dedicated to space exploration, is funding a new blockchain project aiming to boost the world’s mining industry. A known contributor to blockchain technology applications, the ESA has now co-funded a joint project with Scottish startup Hypervine to improve data transparency for the mining industry by combining satellite data and blockchain. The news was reported by oil and gas-oriented publication Oil & Gas Middle East. Preventing potentially fatal accidents in …