Crypto-friendly fintech startup Revolut has obtained a banking license in Lithuania, technology news outlet TechCrunch reported Dec. 12. As the report states, the startup obtained a license through the Bank of Lithuania and “is leveraging passporting rules to operate in other European countries.” The mentioned “passport rules” are laws permitting the operation of banks that are part of the European free market on the territory of other member states. In the coming months, Revolut’s users in the United Kingdom, France, Germany, and Poland are expected to get a “true current account and a non-prepaid debit card.” Additionally, users’ deposits will …

SolarisBank and Stuttgart Exchange Group are jointly developing infrastructure for a cryptocurrency exchange, Cointelegraph Germany reports Dec. 12. The Stuttgart Exchange, founded in 1860, is the second-largest stock exchange in Germany and the ninth-largest in Europe. SolarisBank, on the other hand, is a German fintech company established in 2015 that holds a banking license and offers a “Banking as a Platform” service. This news goes along with the plans announced by the exchange in May to release a zero-fee cryptocurrency trading application. The two companies’ crypto exchange, “which is scheduled to launch in the first half of 2019,” will have …

United Kingdom-based cryptocurrency exchange CEX.IO now requires its users to disclose their identities, according to a company blog post published Tuesday, Dec. 11. The new policy was announced in November and has come into force on Dec. 11. From now on, new and previously unregistered users will have to prove their identity. In addition, they can also provide their home address in order to use the full range of CEX.IO options. Customers will be able to skip the mandatory registration only twice, and then must choose between passing the verification process or withdrawing their funds. Previously CEX.IO also had a …

In its latest report released on Dec. 7, the European Union Blockchain Observatory and Forum (EUBOF) made a case for a blockchain-based digital identity system and digital versions of national currencies. The report was prepared by blockchain software technology firm ConsenSys AG on behalf of the EUBOF, and focuses on the analysis of what blockchain properties could be beneficial and advantageous for governments. The EUBOF suggests that governments should develop “user-controlled, ‘self-sovereign’ identity capabilities” to create secure, private, unique and verifiable identities, that can provide sufficient proof of identity without revealing more data than it is necessary for a transaction. …

Four major blockchain companies have formed a “Blockchain for Europe” Association, according to a press release Dec. 5. The association seeks to promote the understanding and proactive regulation of blockchain and other distributed ledger (DLT) technologies across the continent. The four participant companies are Ripple, the NEM Foundation, Emurgo – which supports commercial ventures based on the Cardano blockchain – and “smart ledger” development firm Fetch.AI. The firms have outlined the Association’s aim as addressing the European Union's “fragmented” policy debate around blockchain, which they claim is skewed by “inconsistent” information from those outside the emerging sector. In a bid …

This article has corrected misinformation about the claim filing procedure for investors in Envion in the case of liquidation. Our editorial team would like to apologize for the error. The cantonal court of Zug, Switzerland has shut down cryptocurrency mining firm Envion AG for an alleged unauthorized Initial Coin Offering (ICO), German news outlet Handelsblatt Global reported Nov. 28. Envion was established in Switzerland by Michael Luckow and Matthias Woestmann as an off-grid mining company that claims to use decentralized, clean energy like hydroelectric and solar to power its mobile mining units. Envion reportedly raised around $100 million through an …

European cryptocurrency exchange Bitstamp will integrate a new platform to improve compliance and customer protection, according to a press release published Nov. 27. Bitstamp has formed a partnership with British market surveillance firm Irisium Ltd. in an effort to improve the safety and reliability of its marketplace. The exchange will deploy Irisium’s platform to monitor market activity and attract more institutional investors. Commenting on the collaboration, Alastair Goodwin, CEO of Irisium Ltd, said that the adoption of Irisium’s platform will help “increase transparency, integrity and confidence in the cryptocurrency market,” eventually improving market liquidity and adoption. Founded in 2011, Bitstamp …

Professional traders-focused Liechtenstein Cryptoassets Exchange (LCX) has recently acquired a “business license” in Liechtenstein, according to a press release shared with Cointelegraph Nov. 27. The new license granted by the Liechtenstein Ministry of Economic Affairs is reportedly a milestone for LCX in developing a “fully regulated blockchain ecosystem,” targeting institutional and professional investors. Following the recent licensing, the LCX is also planning to apply for a Financial Market Authority (FMA) license, as well as other regulators’ approvals to trade security tokens among other offerings, the firm revealed in the press release. In order to receive more licenses, the LCX has …

The German Federal Ministry for Economic Affairs and Energy (BMWi) is planning to fight tax evasion schemes by using blockchain, German business news outlet WirtschaftsWoche reported Nov. 22. Following the major European tax fraud scheme CumEx-Files, the BMWi has suggested that distributed ledger technology (DLT) is capable of making the tax system more efficient in terms of fraud prevention. Discovered in 2017, the CumEx-Files was a tax fraud scheme that reportedly was used by a network of banks, stock traders and top lawyers to obtain billions from European treasuries through speculation with dividend tax. As a result of the CumEx …

Banking groups BBVA and Banco Santander have joined the E.U. International Association for Trusted Blockchain Applications (IATBA), Spanish economic newspaper Expansion writes Nov. 20. The representatives of two Spanish banking groups were invited to an E.U. blockchain roundtable held in Brussels by Mariya Gabriel, the commissioner for Digital Economy and Society, and Roberto Viola, director of the E.U. Department of Communications Networks, Content and Technology. According to a BBVA press release, during the meeting officials revealed that the IATBA will be launched by the European Commission in the first financial quarter of 2019. The main aim of the association is …

The Commissione Nazionale per le Società e la Borsa (CONSOB) has ordered three crypto-related companies providing unauthorized investment services to cease and desist, an official release states Monday, Nov. 19. The first company, a trading platform called Richmond Investing, has purportedly violated the Consolidated Law on Finance (TUF) — a fundamental law governing Italian financial markets — by failing to register as a financial intermediary in the country. The Italian securities market regulator has also suspend the activities of two other companies, Crypton Ltd. and Eagle Bit Trade, along with individual Alessandro Brizzi representing Cryptoforce Ltd., for 90 days. According …

Maltese politician and a Member of the European Parliament (MEP) Roberta Metsola claimed that decentralization powered by blockchain “provides more security,” Cointelegraph learned during her speech at the Malta Blockchain Summit on Friday, Nov. 2. Addressing the summit, Metsola expressed a positive stance by the European Parliament (EP) regarding the emerging industry of blockchain and cryptocurrencies. The Maltese politician revealed that the industry’s issues are “of course” on the agenda of the EP, with its members encouraging to move adoption from “vision to reality.” In her testimony, Metsola declared that European authorities should demonstrate to people that decentralization generated by …