Next to the fears of government overreach that the European Union’s ambitious digital euro project stirred, the main concern of the public is the prospective currency’s privacy framework. It appears that this worry might not be overblown after all, as the European Central Bank’s (ECB) latest presentation hints that user anonymity is not a desirable design option. On Tuesday, crypto venture adviser and European digital asset regulation whistleblower Patrick Hansen drew public attention to the ECB’s presentation titled “Digital Euro Privacy options.” The document is relatively short and contains nine slides that lay out the possible options for user privacy …

Analysts from the European Commission showed an unexpected understanding of how decentralized finance (DeFi) actually functions, having defined it as something different from the traditional financial system and acknowledging that it would require rethinking the approach to regulation. On Monday, May 2, crypto venture advisor at Presight Capital and a long-term expert on European regulation Patrick Hansen shared some important details from the EU Commission's “European Financial Stability and Integration Review 2022.” T report, dated April 7, contains a 12-page chapter on DeFi, in which the authors demonstrate a sensible approach to the topic. 1/ In case you missed it, …

Mairead McGuinness, the commissioner for financial services, financial stability and capital markets union at the European Commission, is calling for global regulators to work together to address potential risks in the crypto market. In a Sunday opinion piece in political media outlet The Hill, McGuinness said the European Union and the United States could help lead the world in a regulatory approach for cryptocurrencies that considers the benefits of the innovative technology while addressing “significant risks.” The EU commissioner pointed to the volatility of certain assets, the risk of insider trading, the possibility of crypto being used by Russia to …

The recent European Union proposal requiring centralized crypto exchanges and custodial wallet providers to collect and verify personal information about self-custodial wallet holders shows the dangers of recycling traditional finance (TradFi) rules and applying them to crypto without appreciating the conceptual differences. We can expect to see more of this as countries look to implement the Financial Action Task Force (FATF) Travel Rule, initially designed for wire transfers, to transfers of crypto assets. The (missing) link between self-custody, control and identity The aim of the proposed EU rules is “to ensure crypto-assets can be traced in the same way as …

A new rule imposed by Belgium’s financial regulatory agency, the Financial Services and Markets Authority (FSMA), will now require crypto exchanges and custodial wallet services in the region to register within a sharp deadline. Starting tomorrow on May 1, legal individuals and entities that wish to provide crypto exchange services or custodial wallets in Belgium will have to register in advance, according to the information released by the FSMA. As from 1 May 2022, providers of exchange services between #virtual #currencies and legal currencies, or custody #wallet services will have to register with the #FSMA. Please consult the FAQs. https://t.co/P44mkovn5L …

Digital asset manager Grayscale Investments is planning to expand its product offerings into Europe to tap into growing institutional demand for cryptocurrencies in the region, CEO Michael Sonnenshein confirmed Tuesday. In an interview with Bloomberg, Sonnenshein said the company was holding meetings with local partners to discuss how Grayscale’s suite of products would be rolled out in the region. The company hasn’t made any definitive plans regarding which exchanges and countries would be supported initially, though Grayscale plans to launch pilot tests in several markets across the European Union. Sonnenshein explained that Grayscale would be looking at investor behaviors and …

21Shares, a major issuer of cryptocurrency exchange-traded products (ETP), is launching a new ETP tracking a mix of Bitcoin (BTC) and gold. The Switzerland-based firm on Wednesday announced the launch of the 21Shares ByteTree BOLD ETP (BOLD), a new product aimed at providing inflation protection by tracking an index providing risk-adjusted exposure to both BTC and gold. Listed on the SIX Swiss Exchange, the new hybrid ETP is subject to monthly rebalances, according to the inverse historic volatility of each asset. At launch, BOLD comprises 18.5% of BTC and 81.5% of gold. The new ETP was developed in collaboration with …

In her monthly Expert Take column, Selva Ozelli, an international tax attorney and CPA, covers the intersection between emerging technologies and sustainability, and provides the latest developments around taxes, AML/CFT regulations and legal issues affecting crypto and blockchain. Germany has risen to the top spot of Coincub’s guide to the most crypto-friendly countries in Q1 2022. The European country allows its long-term domestic savings industry to utilize crypto investments, supported by its zero-tax policy on long-term capital gains from crypto, and its number of Bitcoin and Ethereum nodes is second only to the United States. Blockchain adoption In 2019, Germany …

As France braces for the April 24 presidential election in a runoff, political pundits around the globe are making their bets. The choice is between the centrist incumbent Emmanuel Macron and right-wing populist Marine Le Pen. Much of the political debate this time revolves around economics, but there is one indispensable part of it that is largely absent from the candidates’ electoral agendas: digital assets. While both have a record of public statements on matters related to crypto, neither Macron nor Le Pen seems to be likely to trigger any significant policy change with regard to the French digital economy. …

Who would have thought that a small country in the Caucasus Mountains could become one of the world’s leaders in cryptocurrency mining? Despite its small size and population, Georgia has become a popular spot for cryptocurrency mining thanks to its cheap electricity, the absence of legislative restrictions and attractive tax incentives. This combination of factors has engaged not only Georgian citizens but also foreigners who want to try their hand at cryptocurrency mining. Oasis for miners Georgia’s economy is actively developing, but it has not yet grown up to the level of other developed countries. In 2015, in order to …

Mere days before the second round of the fateful presidential election in France, the incumbent president of the Republic, Emmanuel Macron, sat down with local media to share his thoughts on the digital economy — a subject on which he hasn't spoken much previously. While emphasizing the importance of the sector, Macron once again reiterated his support for the pan-European approach to financial technology regulation. The interview with French publication The Big Wale came on Friday, two days before the runoff that will see Macron face the right-wing populist Marine Le Pen. According to most polls, Macron is likely to …

Austrians have “sufficient funds” for more Bitcoin ATMs — that’s the verdict that MediaMarkt, a German electronics retailer, reached following a successful Bitcoin ATM pilot in Austria. MediaMarkt has rolled out Bitcoin (BTC) ATMs in 12 branches across the country, including Seiersberg and Klagenfurt. Confinity and its spinoff ATM company, Kurant, manage over 200 Bitcoin ATMs in Austria, Germany, Spain and Greece. Kurant's Head of Marketing & Sales, Europe, Thomas Sperneder told Cointelegraph: "MediaMarkt stores across the country have been equipped with Bitcoin vending machines. In total, these are now present in twelve markets and enable the simple and secure …