The European Central Bank Wants Tighter Control over Bitcoin
The European Central Bank (ECB) has proposed a directive of the European Parliament and of the Council stating that ‘virtual currencies do not qualify as currencies from a Union perspective,’ and wants digital currencies to be explicitly defined as not legal currencies or money. In a document titled, Opinion of the European Central Bank [PDF], the ECB is proposing amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing and amending Directive 2009/101/EC. According to the ECB, the use of digital....
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The European Central Bank (ECB) has urged its members to impose tighter controls on the activities of companies that exchange virtual currencies or custody them for their clients. The comments come as the European Union moves toward extending the economic bloc's anti-money laundering statutes to cover digital currency activities. At the same time, the ECB has been conducting its own investigations of both digital currencies like bitcoin as well as its underlying technology. Perhaps most notable in the ECB’s legal opinion, published earlier this week, is its assertion that the broader....
The European Council of the EU has set forth guidelines in which it will seek to regulate virtual currencies and curb terrorist funding opportunities. In light of several high terror attacks within the EU in 2015, many regulators and citizens called for tighter surveillance and anti-terrorism operations. Calls for tighter control over virtual currencies after reports were released when it was suggested that some terrorists might have benefited from using Bitcoin to fund their activities. While such claims that terrorists have a unique advantage in using Bitcoin, the European Council is....
The European Central Bank (ECB) has given its long-awaited opinion on proposed regulations on digital currencies, including bitcoin. The bank also suggested there’s room for improvement to the European Council and Parliament’s proposal. The aim, it said, is to prevent use of the financial system for money laundering and terrorism financing. ECB: Tighter....
President of the European Central Bank Christine Lagarde took to Twitter earlier to announce that the European Central Bank has decided to move up the investigation phase for the euro digital currency. The tweet comes in response to a tweet from the European Central Bank official Twitter handle, announcing that the institution would launch a […]
The European Central Bank (ECB) has revealed that it is taking a close look at exploring the potential of blockchain technology for a multitude of services that it helps collaborate with other central banks in Europe. The European Union’s central bank has, in a report, revealed that it is looking toward new innovations such as blockchain or distributed ledger technology to help run payment and settlement systems. ECB made the revelation in a consultation report released this week, one which looks to the future of Europe’s financial market infrastructure and Eurosystem’s part in it. The....