The Bank of Finland (BOF) has taken the lead in spearheading the development of a Finnish instant payment solution that aligns with European standards. During this year’s fifth Euro and economy publication event on October 19, Tuomas Välimäki, a member of the Governing Council of the European Central Bank (ECB) and a board member of…
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New EU rules will introduce automated exchange of information on crypto revenues reported by service providers in the sector. A new directive adopted by the Union expands existing registration and reporting obligations as well as cooperation between tax administrations across the bloc. Information Sharing Between National Tax Administrations in EU to Cover Crypto Assets The…
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Though the issuance of a digital euro is not a certainty, officials with the European Central Bank are moving to next phase of the project. The governing council of the European Central Bank (ECB) has announced it will begin the ”preparation phase” for the digital euro project following a two-year investigation. In an Oct. 18…
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The digital asset ecosystem in Europe expands as institutions broaden their services to decentralized finance (DeFi) amid market turmoil. A new market report released by on-chain analytics from Chainalysis shows industry growth in Central, Northern, and Western Europe (CNWE) as well as the United Kingdom’s (UK) dominance in its jurisdiction and the effects of the…
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Crypto adoption in the United Kingdom has been growing as the country adopts more regulations targeting crypto and stablecoins, the study shows. The United Kingdom has emerged as a major cryptocurrency economy worldwide and the biggest crypto country in terms of raw transaction volume in Central, Northern and Western Europe (CNWE), according to a new…
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The mere fact that the Deutsche Bundesbank, BIS and other financial incumbents want such information now suggests a tacit acceptance of crypto. The Bank for International Settlements’ (BIS) Project Atlas report offers yet another indication that the worlds of crypto and traditional finance may be converging. On the surface, this proof-of-concept project backed by some…
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Uncertain regulatory conditions continue to have a negative impact on the sustainable growth of the DAO ecosystem, revealed a new European Central Bank Occasional Paper. Decentralized autonomous organizations (DAOs) need a comprehensive regulatory framework if they are to make a place in the future of the financial sector, suggests the European Central Bank’s Occasional Paper…
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The eighth iteration of the Directive on Administrative Cooperation was formally adopted by the Council of the European Union. The eighth iteration of the Directive on Administrative Cooperation (DAC8) — a cryptocurrency tax reporting rule — was formally adopted by the Council of the European Union on Oct. 17. The regulation will enter into force…
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The European Union’s anti-money laundering laws infringe upon personal privacy, and they come with costs that are simply too high. The European Union’s financial regulatory landscape is in flux with the introduction of multiple Anti-Money Laundering (AML) directives and related laws. These regulations, although designed to protect the financial system, come at a hidden, and…
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SBF’s former girlfriend admits to fraud during her time as CEO of Alameda Research. Last week, the FTX court saga had elements of a TV drama, with Sam “SBF” Bankman-Fried’s former business associate and girlfriend, Caroline Ellison, sharing some shocking stories about SBF’s rule over the company. Ellison admitted to fraud during her time as…
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