This Proposal Could Reshape Europe's Cryptocurrency Policies
Recently the European Commission (EC) announced plans to apply the EU anti-money laundering and counter-terrorist financing regulations (the Fourth AML Directive or 4AMLD) to digital currency exchanges and possibly wallet providers. This move is a part of the EC’s broadening action against terrorist financing. But while this news comes as no surprise, another EC proposal, far less publicized and somewhat overlooked, has the potential to revolutionize the current state of affairs in digital currency regulation in the EU. The intention to embrace digital currencies by AML/CTF regulations has....
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The new EU proposal for amending existing AML and CFT regulation may increase pressure on Bitcoin platforms. The European Union has renewed calls for stricter cryptocurrency regulations. Europe is one of the most prolific markets for cryptocurrencies and cryptocurrency technology-based products and services. The proposal for the amendment of existing Directive (EU) 2015/849 believes that Bitcoin exchanges, due to lack of strict controls may become a potential route for money transfer among terrorist groups and organizations. In order to prevent misuse of virtual currency platforms, the EU....
Since the New York Department of Financial Services (NYDFS) released its proposed regulations for bitcoin businesses on 17th July, the wider digital currency community has been locked in a heated debate over what the passage of the policies would mean for the future of the nascent industry. As put forth by Bitcoin Foundation director Jon Matonis in a recent CoinDesk opinion piece, the growing consensus in the Western world, if one can be derived, is that the NYDFS framework goes too far, threatening to stifle innovation in its bid to protect consumers. If true, the NYDFS proposal could be....
The RippleX team, Ripple Labs’ development arm, yesterday shed light on a new feature proposal, the “Clawback” for the XRP Ledger (XRPL). As the crypto space awaits the potential inclusion of this feature in the rippled 1.12.0 release, the blockchain community has set its eyes on how this addition might reshape asset controls on the […]
After successfully launched a bitcoin exchange-traded product in Europe, Vaneck has now filed a new proposal for a bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). Under former chairman Jay Clayton, the SEC never approved a bitcoin ETF. However, Clayton has resigned from his post and changes may be coming from the incoming Biden administration. First Bitcoin ETF Filing After Clayton’s Departure New York-based investment management firm Vaneck filed a registration statement with the U.S. Securities and Exchange Commission (SEC) on Dec. 30 to....
Cryptocurrency exchange Coinbase has published its proposal for crypto regulation after “more than 75 meetings with stakeholders in government, industry, and academia,” CEO Brian Armstrong revealed. In its Digital Asset Policy Proposal, the company recommends “four core pillars to inform future U.S. regulation.”
Coinbase’s Proposal for Crypto Regulation
The Nasdaq-listed cryptocurrency exchange Coinbase published its Digital Asset Policy Proposal (DAPP) Thursday.
Coinbase CEO Brian Armstrong tweeted: “Today we’re....