Vote Moves Europe Closer to AML Policy for Digital Currency Exchanges
The European Parliament’s Committee on Economic and Monetary Affairs voted almost unanimously to adopt its report on virtual currencies today. The 54-to-1 decision was one of the last hurdles for a measure that could lead to the creation of cryptocurrency task force before it is put before vote by the entire European Parliament. Speaking with CoinDesk this afternoon, founder of the European Digital Currency and Blockchain Technology Forum (EDCAB) described the vote as part of a larger movement to regulate virtual currency exchange platforms under existing anti-money laundering (AML)....
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In a majority vote, the European Parliament’s Committee on Economic and Monetary Affairs has voted to adopt its virtual currencies and blockchain report. The vote comes during a time when the Commission is looking to bring digital currency exchanges under the purview of its Anti-Money Laundering Directive (AMLD). The European Digital Currency & Blockchain Technology Forum (EDCAB), a Brussels-based public policy platform for digital currencies and blockchain technology has revealed that the influential Euro Parliament Committee on Economic and Monetary Affairs has voted to adopt its....
Although Scotland has yet to vote whether or not to secede from the United Kingdom, pundits have already begun debating how an independent Scotland should structure its society - specifically its monetary policy. Theorists have noted that, if the Scots vote "yes" on the independence referendum, Scotland could prove a perfect testing ground for large-scale bitcoin implementation. Naysayers argue that free banking systems are unsustainable, pointing to the so-called "free banking" era in 18th and 19th century Scotland. Consequently, if Scotland's independence vote passes and bitcoin becomes....
The Bank of England has moved closer to adopting a negative interest rate policy. The central bank has asked commercial banks in the U.K. to provide details of how ready they are to deal with negative interest rates, asserting that for the policy to be effective, commercial banks need to be ready to implement it. Bank of England Engages Commercial Banks on Negative Interest Rates The Bank of England has asked commercial banks how ready they are to implement negative interest rates. This followed the central bank’s Monetary Policy Committee (MPC) revealing that it would assess the....
Scottish National Party (SNP) MP George Kerevan wants Scotland to work on a digital currency and has also said that this must be the next on the policy agenda. The MP spoke at length about the much debated digital currency Scotpound at a fringe event at the SNP conference in Aberdeen. Kerevan also brushed aside all conclusions which claimed that it was the advocacy of keeping Sterling that cost them the referendum vote. While the MP vouched for the digital currency yet he also admitted that he does not have an 'instant alternative.'. He further spoke about the digital currency in the form....
Things are moving quickly in Europe at the moment in regards to cryptocurrency and the Blockchain. The Committee on Economic and Monetary Affairs of the European Parliament scheduled to vote on the virtual currencies report in a matter of days, with the hot summer for cryptocurrency and Blockchain legislation ahead. In February, the Council of the European Union put virtual currencies on top of a list of targeted areas for rapid progress which led to the topic of digital currencies rising up the ladder of policy agenda in all major institutions. A new independent non-profit trade body....