Luxembourg First to Adopt Acceptable Rules for Bitcoin Businesses
There is no doubt that the statement issued by the Commission de Surveillance du Secteur Financier (CSSF) of Luxembourg is the first constructive step towards the consensus with the Bitcoin environment and entrepreneurs. Law Library of Congress in cooperation with BitLegal proves this writing to be the first from the country on the corresponding matter. The official document says: “Therefore, the potential interested persons who would like to establish themselves in Luxembourg in order to carry out an activity of the financial sector (as, for instance, the issuing of means of payments in....
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CoinPlus has successfully closed a first round of investment, which saw the firm add €172,500 to its coffers. The Luxembourg-based bitcoin startup reports the seed funding will allow it to speed up the operational and technical development of its impending product and add new members its team. Though not yet launched, CoinPlus is developing a multi-support payment processor and a currency exchange platform. Regulatory framework attracts bitcoin businesses. The startup was incorporated last July, following a ruling by the Luxembourg financial regulator, which found that bitcoin could be....
Luxembourg-based Bitcoin startup CoinPlus raises €172,500 in a first round of funding, and waits to meet with Luxembourg's financial regulator at the end of September. In a press release, CoinPlus CEO Christian Bodt, said there was still a long way to go, but remains optimistic. He added that an additional funding round was planned to occur before the end of the year. "The choice of Luxembourg was [obvious]. The country offers high-standard technical and administrative infrastructures, service providers at the cutting edge of technology, proximity with relevant authorities, as well as....
The Commission de Surveillance du Secteur Financier (CSSF), the government body responsible for financial regulation in Luxembourg, has issued a release detailing its treatment of digital currencies as well as its expectations for bitcoin businesses. Issued on 14 February, the communique included familiar consumer protection warnings, but also featured a unique invitation for interested entrepreneurs. The CSSF encouraged these individuals to contact its officials about facilitating digital currency-related commerce in the country, and suggested it will operate on a case-by-case basis with....
As authorities in the EU are still discussing union-wide cryptocurrency regulations, a major U.S. bank has reportedly lobbied the Irish government to adopt its own rules for the space. BNY Mellon launched its digital asset business in Ireland this year to provide custodian services to institutional investors.
Banking Giant BNY Mellon Calls for Irish Crypto Regulations
U.S. banking corporation BNY Mellon, which established a crypto unit in Ireland this spring, has urged the country’s finance ministry to introduce crypto regulations while the EU rules for the space are....
Kristov Atlas has developed a quick tool called TorBan which can warn of a Bitcoin-over-Tor de-anonymization attack, called the "Luxembourg Attack." The "Luxembourg Attack," first described by University of Luxembourg researchers Ivan Pustogarov and Alex Biryukov earlier this year, involves the use of thousands of Bitcoin nodes and a handful of controlled Tor exit nodes to "de-anonymize" users using Bitcoin over Tor. The Luxembourg research paper, titled "Bitcoin over Tor isn't a good idea" detailed the potential attack. The Bitcoin network has built-in denial-of-service (DoS) attack....