Forty crypto companies cosigned an open letter to the European Parliament, European Commission and other principal EU institutions with a call to ensure common-sense regulation, standardized compliance procedures and an innovation-friendly business environment. An open letter on behalf of the international Web3 community and “businesses across Europe,” shared with Cointelegraph by one of the signatories, went out to EU institutions on Tuesday. The industry players expressed their concerns over some recent EU-level regulatory initiatives: “We wish to urgently convey our concern with proposed EU laws that threaten the privacy of individuals as well as digital innovation, growth and job creation …

In the less than two weeks since the European Commission opened its “Digital euro for the EU” initiative up to public consultation, more than 11,000 individuals and organizations have left their feedback on the website. The feedback section will be open until June 14. Besides the open-ended comments section on the website, there is a targeted consultation questionnaire that aims to collect information from the industry representatives, authorities and experts regarding such aspects of the prospective digital euro as privacy and data protection, Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT) rules, the impact on financial stability and …

Bitcoin (BTC) dipped below $40,000 support on April 18, and the two-week 15% correction was enough to prompt predictions of $30,000 prices in the near term. Meanwhile, regulatory uncertainties continue to be a key concern for investors, including the failed European Know Your Customer (KYC) and Anti-Money Laundering (AML) proposed rules for ”unhosted” private wallets. For instance, exchanges started to demand additional information on their users just last week, causing some discomfort to traders. Europe regulation “near miss” brings distress The European Union Parliament’s Committee on Economic and Monetary Affairs voted on March 14 to ban or restrict proof-of-work-based crypto …

The European Parliament’s Committee on Economic and Monetary Affairs recently approved a draft of its comprehensive Markets in Crypto Assets, or MiCA, crypto regulation package. The new framework covers a wide range of crypto-related subjects, such as the status of all major currencies and stablecoins and the regulation of crypto mining and exchange platforms. Stefan Berger, a member of the Christian Democratic Union (CDU), is the Parliament’s rapporteur for the upcoming MiCA regulation — the person appointed to report on proceedings related to the bill. In the associated negotiations, the German politician vehemently opposed, among other things, a ban on …

The EU Blockchain Observatory published its fifth report under the headline “Blockchain Applications in the Healthcare Sector.” The document highlights the importance of distributed ledger technology for the European healthcare sector, which faces a number of challenges on its route to the “Healthcare 4.0” revolution. The 66-page document was announced on the EU Blockchain Observatory's Twitter on April 11. Its authors take an optimistic perspective on the implementation of blockchain technology in healthcare, noting its compatibility with the core principles of “Healthcare 4.0”, such as interoperability, virtualization, decentralization, real-time capability, service orientation and modularity. Below are 7 key takeaways from …

The Council of the European Union has cut Russians off from certain cryptocurrency services as part of a package of restrictive measures against Russian President Vladimir Putin’s “brutal aggression against Ukraine and its people.” In a Friday announcement, the EU council said it would be closing potential loopholes in using digital assets for Russian entities and individuals to evade sanctions with a “prohibition on providing high-value crypto-asset services” to the country. The action was one of three financial measures the European Commission proposed alongside banning transactions and freezing assets connected to four Russian banks as well as a “prohibition on …

Last week, the European Parliament’s Committee on Economic and Monetary Affairs (ECON) and the Committee on Civil Liberties, Justice and Home Affairs (LIBE) voted in favor of a regulatory update that could compromise the exchange platforms’ ability to deal with noncustodial crypto wallets. Should the regulatory project make it to the legislation phase in the upcoming months, it would place severe disclosure requirements on transactions between noncustodial wallets and crypto exchanges in the European Union — a process whose signs are visible in other parts of the globe as well. What happened On Thursday, March 31, ECON and LIBE members …

The European Commission is calling for financial services specialists to weigh in on the potential rollout of a digital euro. In a Tuesday notice, the European Commission’s Directorate‑General for Financial Stability, Financial Services and Capital Markets Union said it would be preparing an assessment of the central bank digital currency based on the expected impact on financial service providers, retail users, and chambers of commerce. The commission will consult with industry specialists on issues concerning the digital euro including international payments, privacy, the impact on the financial sector and financial stability, use cases alongside cash payments, and anti-money laundering and …

The European Parliament continued to keep crypto users and advocates at the edge of their seats last week as yet another piece of potentially harmful legislation — this time, a set of demanding data disclosure requirements for digital asset service providers — was rushed to a vote mere days after a near miss on banning proof-of-work-based cryptocurrencies. Unlike the relatively happy resolution of the Markets in Crypto Assets framework situation, the EU’s new Anti-Money Laundering rules retained all the crypto-hostile language as they are going into the next round of consideration, the so-called trialogue negotiations. If the rules are enacted …

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. According to the United Nations High Commissioner for Refugees, also known as the UN Refugee Agency, nearly 4 million Ukrainians have fled their homes since bombs began falling and bullets started flying on Feb. 24, with most heading to neighboring Central European countries. At the same time, people around the world have sent over $100 million in crypto donations to support Ukraine, …

The crypto industry has reacted strongly against a EU Parliament committee voting in favor of a regulatory package for tighter know-your-customer (KYC) and anti-money laundering (AML) rules for ”unhosted” private wallets. The new guidelines would require crypto service providers — most commonly exchanges — to verify the identity of every individual behind an unhosted wallet that interacts with them, while any transaction greater than 1,000 Euros ($1,100) would need to be reported to authorities. Coinbase CEO Brian Armstrong vented his frustrations against the move via Twitter, as he drew comparisons with fiat to highlight the absurdity of reporting and verifying …

Fabio Panetta, executive board member of the European Central Bank, said focus groups exploring the potential rollout of a digital euro hinted the ability to use the digital currency at online and physical stores could be a key feature. In a written statement released Wednesday, Panetta broke down the findings of ECB focus groups on digital payment methods commissioned in September 2021, which suggested people were more likely to accept a digital euro accepted in physical and online stores and allowed easy person-to-person payments. According to Panetta, all merchants would need to accept a digital euro to see adoption trends …