European Banking Federation Recommends Bitcoin Regulation
A major European banking trade group has called for governments and businesses to develop regulatory solutions for cryptocurrencies. The European Banking Federation (EBF), a group representing thousands of the continent's largest banking groups, recently released its vision for a digital revamp of the banking system. Included in its proposals are several recommendations to policymakers regarding bitcoin and the blockchain. The group points to the blockchain as an innovation that "provides a number of interesting opportunities both for financial institutions individually and for the....
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The European Banking Federation (EBF), which represents Europe's largest banking groups, unveiled its vision for digital currencies and cryptocurrency regulation. The group called upon governments and businesses to develop a framework for bitcoin regulation, pointing out that further research and ongoing evaluations of rules should be made. In particular, the group proposed that a comprehensive framework for cryptocurrency regulation based on existing anti-money laundering laws could be applied. It also acknowledged that the blockchain, which refers to bitcoin's distributed public ledger,....
This article has been updated to include responses to the EBA by the Bitcoin Foundation and the UK Digital Currency Association. The European Banking Authority (EBA) has published an 'opinion' warning financial institutions to stay away from digital currencies until the industry is regulated. In the document, which was addressed to the EU council, European Commission and European Parliament, the EBA set out new requirements for the regulation of digital currencies and also instructed financial institutions not to buy, hold or sell digital currencies until new rules are in place. The EU....
Most European citizens reject the idea of a cryptocurrency regulation regime imposed by the European Union (EU) on its member states, according to a recent survey. Most surveyed citizens lean towards independent cryptocurrency regulation in each country, compared to 25% that approve an EU-imposed regulation. However, most of the citizens polled acknowledged they still don’t know much about cryptocurrencies in the first place.
Europeans Reject EU Crypto Laws, Favor Local Proposals
European citizens are against the establishment of EU-imposed cryptocurrency-related laws,....
Poland is seeking out a regulated cryptocurrency to become a contender in European economics. Poland, a member of the European community, is pressing for regulation from the European Union because of the impact that it envisions. Wojociech Trusz, from Ministry of Economy, advises that: cryptocurrency can help Polish international competiveness. Europe must acknowledge the use of cryptocurrency through regulation, according to Trusz - who says that "this is a global phenomenon". Trusz indicates that it could open doors to building a foundation for entrepreneurs and business if regulation....
The European Central Bank should rely on public-private cooperation for issuing a digital euro, an exec at BBVA’s digital regulation team said. An executive at major Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA) has raised concerns about the digital euro and questioned what customer demand it would meet.Pablo Urbiola of BBVA’s digital regulation team has called on European financial authorities to carefully explore the possible issuance of a central bank digital currency (CBDC).Urbiola said Friday at a European Banking Federation seminar that, despite the increasing need for a....