European Union lawmakers are planning an EU-wide digital identity wallet for access to essential services. On March 15, the European Parliament voted 418 to 103 (with 24 abstentions) in favor of negotiating a mandate for talks with the European Union member states about revising the new European Digital Identity (eID) framework and creating the “European…
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Challenges for crypto companies range from having applications rejected, accounts frozen, to being overwhelmed with paperwork. Crypto companies are facing difficulties accessing banking services in the United Kingdom, according to multiple sources interviewed by Bloomberg. The few banks still working with crypto firms are requesting more documentation and information about how they monitor clients’ transactions.…
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Requests for user data from Big Tech companies such as Apple, Google and Microsoft continue to rise year after year from governments around the world. How Big Tech companies treat user data has been controversial for so long. Meta, Apple, Google and Microsoft are often accused of collecting and selling the personal data of their…
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Many in Switzerland have said that UBS’ takeover of Credit Suisse was necessary to avoid a calamitous banking crisis like that seen in 2008. On Sunday, March 19, the 167-year history of banking giant Credit Suisse ended with a takeover by the largest Swiss bank, UBS. Under pressure from the Swiss government, UBS took over…
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Despite the ongoing tumultuous market conditions, venture capital investments in European crypto startups hit an all-time high of $5.7 billion in 2022. 2022 was a turbulent year for the crypto space, from an ongoing bear market and high-profile collapses of some of the industry’s most prominent players, like Terra and FTX. Despite the setbacks, venture capital…
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Leaders from Japan, the United States, the United Kingdom, Canada, France, Germany, and the European Union are expected to outline a global cooperative strategy for digital assets in May. The next G7 meeting might bring a push from the seven biggest democracies for tougher regulations on cryptocurrencies around the world, Kyoto news agency reports on…
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While the U.S. government opts for “regulation by enforcement,” other countries are fostering “vibrant” crypto ecosystems due to progressive regulation, argues Coinbase’s Daniel Seifert. With Coinbase seemingly on the verge of a court battle with the Securities and Exchange Commission (SEC), the firm has emphasized that the U.S. government’s hawkish approach to crypto regulation has…
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Members of the European Parliament have been discussing the impact of the failure of Silicon Valley Bank, Signature Bank and Silvergate Bank on markets in their jurisdictions. Johan Van Overtveldt, a member of the European Parliament and the former Minister of Finance of Belgium, has called for a “strict ban” on crypto as a result…
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Margrethe Vestager, the competition commissioner, stressed the need to anticipate and plan for changes in technological advancements. Considering the regulatory struggle to keep up with ever-evolving innovations, Margrethe Vestager, the executive vice president of the European Commission for a Europe fit for the digital age, and commissioner for competition since 2014, recommended a headstart into…
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The Solana Foundation’s head of strategy said he had heard from projects facing “pretty draconian” rules in the European Union related to liability of illicit crypto transactions. Austin Federa, head of strategy at the Solana Foundation, spoke to Cointelegraph at the ETH Denver conference on the network’s outages, the impact of regulation, and the launch…
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