Opposition party members in the Luxembourg parliament are demanding specifics from the prime minister on a proposed e-government plan, according to a report by the Luxembourg Times on May 24. The plan reportedly centers on the implementation of blockchain technology, as well as artificial intelligence (AI) in government administration. The seat of the newly-created government position Minister for digitalization, Marc Hansen, said there will be an emphasis on improving data storage and transmission in the government with blockchain technology. Laurent Mosar, a prominent member of the opposition Christian Democrats party, has asked for Prime Minister Xavier Bettel to provide specifics …

Dutch, Luxembourg authorities and Europol have shut down one of the three largest cryptocurrency tumblers, Europol reported on May 22. A cryptocurrency tumbler, also known as a cryptocurrency mixing service, is an anonymity tool that claims to transform transactions of non-private coins to private ones by mixing crypto funds with others, which makes it difficult to track the funds’ original source. According to the report, the Dutch Fiscal Information and Investigation Service (FIOD) has now seized six servers of major crypto tumbler Bestmixer.io, which had a reported turnover of at least $200 million since its launch in May 2018. The …

The idea of issuing a central bank digital currency (CBDC) is too attractive to ignore, a postdoctoral researcher from the University of Luxembourg wrote in a study. The research was shared by the Oxford Business Law Blog on Friday, Feb. 22. Hossein Nabilou, a postdoctoral researcher at the Faculty of Law, Economics, and Finance of the University of Luxembourg, presented his findings in a study entitled “Central Bank Digital Currencies: Preliminary Legal Observations.” The report focused on potential challenges that launching a CBDC might cause for the European Central Bank (ECB). According to Nabilou, cryptocurrencies have significantly impacted the banking …

Luxembourg lawmakers have passed bill 7363 into law, facilitating the use of blockchain technology in financial services, according to an official announcement published by the country’s parliament, the Chamber of Deputies, on Feb. 14. The new law aims provide financial market participants with more transparency and legal certainty in regard to the circulation of securities with blockchain technology. The bill is also geared to make the transfer of securities more efficient by reducing the number of intermediaries. According to local news outlet Luxembourg Time, the bill grants transactions done with blockchain technology the same legal status and protection as those …

A new partnership between Luxembourg-based VNX Exchange and the University of Luxembourg aims to improve the security of digital assets, business news outlet Luxembourg Times reported Nov. 23. VNX is a marketplace and trading platform for tokenized venture capital founded in 2017. VNX is a member of fintech incubator the Luxembourg House of Financial Technology (LHoFT), Infrachain and APSI (L’Association des Professionnels de la Société de l’Information). Within the collaboration, the University of Luxembourg will purportedly help VNX develop higher levels of network security for digital assets. The researchers at the University’s Interdisciplinary Centre for Security, Reliability and Trust (SnT) …

Cryptocurrency exchange Bitstamp has been acquired by Belgium-based investment firm NXMH in an “all cash deal,” Reuters reports today, Oct. 29. Nejc Kodrič, CEO of the Luxembourg-registered exchange, reportedly revealed the deal had been closed Oct. 25, but declined to share the full terms. The CEO told Reuters that in 2016 Bitstamp was valued at $60 million, up from $39 million in 2014. NXMH is a family investment holding firm — operating as a subsidiary of Barclays — which has over 2 billion euros in assets under management and makes European consumer and tech investments. As per its LinkedIn profile, …

Nearly 200 entrepreneurs, enthusiasts, private sector representatives and governmental officials were convened last week for the Crypto Valley Summit 2014 in the Isle of Man to share their points of views on numerous topics involving digital currencies and discuss the opportunities and challenges that is facing the industry. The two-day event took place on the island from September 17 to 18 and gathered leading industry entrepreneurs from all over the world including the Founders of GoCoin, Steve Beauregard and Brock Pierce, the CEO of Counting House, Paul Davis, the CEO of Instabil, Jason Field, and the CEO of BankToTheFuture, Simon …