Deutsche Borse’s electronic trading platform, Xetra, is preparing to launch its first Ether (ETH)-based exchange-traded products, or ETPs. According to data from Xetra, the platform is set to debut trading of two Ether ETPs — ETC Group’s Ether exchange-traded commodity, or ETC, product (ZETH) and 21Shares’ Ethereum ETP (AETH) — on Tuesday. A spokesperson for Deutsche Borse told Cointelegraph that the two products will be the first Ether ETPs to ever be listed on Xetra. Alongside AETH, Xetra will be also listing 21Shares’ Bitcoin Cash (BCH) ETP, the firm’s global head of ETP, Laurent Kssis, told Cointelegraph. “As of tomorrow …

The European Central Bank has finally sent its formal opinion on crypto regulations to the European Commission. According to Reuters, the ECB has asked EU lawmakers for veto powers concerning private stablecoin projects like the Facebook-backed Diem. An excerpt from the ECB opinion document reads: “Where an asset-reference arrangement is tantamount to a payment system or scheme, the assessment of the potential threat to the conduct of monetary policy, and to the smooth operation of payment systems, should fall within the exclusive competence of the ECB.” As part of the demand for veto powers on stablecoins, the ECB has urged …

The executive body of the European Union has appointed a major financial services firm to lead a three-year initiative aimed at boosting the integrity of social media posts using blockchain technology. Dubbed “TruBlo,” the project will oversee a wealth of blockchain development as part of the European Commission’s Next Generation Internet initiative. The French financial services firm, Worldline, has been appointed to lead TruBlo. Worldline was founded in 1970 and generated 2.3 billion euros ($2.8 billion) in revenue in 2019. An estimated 450 proposals will be assessed in the coming years as part of the initiative’s goal of “developing trust …

A little-known blockchain project more than doubled in value overnight following the announcement of its involvement in a European Union digital economy research program. The spot price for the Ethereum-based Streamr (DATA) token increased 116% leading into Feb. 12, after it was revealed the project would be used as part of an EU pilot aimed at creating a new kind of money. Announced on Feb.11, the ATARCA Consortium was awarded €2.75 million ($3.33 million) by the European Commission as part of an initiative to address the “economic inefficiencies” incurred by artificially limiting the supply of digital goods. In a radical …

The head of the European Central Bank (ECB) thinks that central banks worldwide will not be holding Bitcoin (BTC) any time soon. In a conference call with The Economist on Feb. 10, Christine Lagarde showed herself to be firmly risk-off when it came to decentralized cryptocurrencies. "Out of the question" "It's very unlikely — I would say it's out of the question," she responded when asked about central bank Bitcoin uptake. Lagarde has long derided Bitcoin, which has surged at a time when the ECB prints huge amounts of liquidity in an attempt to shore up its financial jurisdiction after …

In an interview today, Fabio Panetta, executive member of the European Central Bank said the ECB may only allow digital euro holdings “up to a certain threshold” but added that the rollout of the central bank digital currency was unlikely to cause banks to lose deposits. Specifically, Panetta said that this threshold “could be around €3,000” — worth roughly $3,600 — which he said would still meet most people’s cash needs. He added that these figures were ”still under discussion” and that the ECB had also not yet decided on a cap for digital euro payments. Panetta emphasized that the …

France’s top financial regulator has proposed to change the way the cryptocurrency industry is supervised in Europe. Robert Ophèle, chairman of Autorité des Marchés Financiers, addressed crypto-realted regulatory issues at the 5th Annual Conference on FinTech and Regulation. The official argued that financial supervisors must take a new approach in regulating blockchain-based financial instruments due to massive growth in the market. Ophèle proposed that the European Securities and Markets Authority, or ESMA, should be the responsible authority for this new area of regulation and supervision. Ophèle emphasized that the current stage of regulation in the European Union would make it …

One rule at a time, decentralized finance is gradually being outlawed. It is not that governments specifically aim to make it illegal. Rather, every proposal that comes out lately seems to enact rules that are impossible for decentralized finance to meet. The United States The most recent example is the notice for proposed rulemaking by the United States Financial Crimes Enforcement Network, or FinCEN, which requires banks and other money service businesses to verify the identity of customers who transact from “unhosted” wallets (wallets that are not held on registered exchanges or other custody services). A seemingly reasonable requirement in …

European Central Bank President Christine Lagarde has repeated her insistence that global regulators need to tighten the rules to ensure Bitcoin (BTC) falls under more coordinated oversight. In an interview at the Reuters Next conference, amid an unprecedented bull market for the veteran cryptocurrency, Lagarde argued: “[Bitcoin] is a highly speculative asset, which has conducted some funny business and some interesting and totally reprehensible money laundering activity.” While Bitcoin is pseudonymous, rather than anonymous, its distributed nature and complex interaction with jurisdictional regulatory frameworks present a challenge for international authorities. During the interview, Lagarde did not reportedly refer to any …

Central bank digital currencies have been an integral part of progressive discussions within the cryptocurrency community. CBDCs are virtual representations of the fiat currency of a particular country. They are often based on blockchain technology and are issued and regulated by the official monetary organization of the country. The feature that makes them different from cryptocurrencies like Bitcoin (BTC) and Ether (ETH) is that CBDCs are backed by the central bank’s deposits of the country’s currency and are regulated by the central bank, while cryptocurrencies are not. Cointelegraph discussed with Thomas Trépanier, director of business development for Roxe at Apifiny …

2020 has been a stellar year for the crypto economy, with more enterprises and institutions than ever before implementing the technology. Big announcements, such as PayPal’s decision to enable its users to buy and sell Bitcoin (BTC), have understandably dominated the headlines. However, pivotal regulatory developments across the globe have largely flown under the radar and arguably present even greater significance for crypto in the long term. Related: Will PayPal’s crypto integration bring crypto to the masses? Experts answer The importance of clear regulatory frameworks cannot be overstated, with patchy and insufficient legislation offering a major barrier to enterprises looking …

It is hard to imagine that just two years ago, the general discourse around central bank digital currencies, or CBDCs, was mainly focused on the potential and possibility of issuing them. Even in 2019, the question was about whether we need state-owned cryptocurrencies, with only 70% of central banks worldwide studying the potential of issuing a CBDC, according to a survey published by the Bank for International Settlements at the beginning of 2019. But this year, everything is indeed different. 2020 started with a major event within the financial world: the World Economic Forum in Davos, where the WEF released …