European Banking Authority Proposes Virtual Currency-Specific Regulatory Body
The European Banking Authority (EBA) has advised that the European Commission establish a regulatory regime specific to virtual currencies such as bitcoin. Commenting on the commission’s proposal to amend the existing European anti-money laundering directive, the EBA expresses the opinion that, in the long term, oversight of digital currencies should not....
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The European Banking Authority (EBA) has issued a warning on potential risks related to virtual currencies, but the warning is largely focused on the possibility of fraud and theft. The authority points out that consumers are not protected by union regulation when they buy, trade or hold virtual currencies such as bitcoin. In addition, the regulator warns that there is no guarantee that currency values will remain stable. The EBA was apparently prompted to issue the warning due to a sudden increase in virtual currency trading and the fact that virtual currencies are constantly in the....
The European Union is having it’s financial regulatory agency, European Securities and Markets Authority (ESMA), has predicted that an increased use of distributed ledgers — including the blockchain — could improve the verification of clearinghouse and other transactions. ESMA Experiments with the Blockchain. ESMA launched a consultation team to....
The European Union financial regulatory agency, European Securities and Markets Authority (ESMA), has predicted that an increased use of distributed ledgers — including the blockchain — could improve the verification of clearinghouse and other transactions. ESMA Experiments with the Blockchain. ESMA launched a consultation team to investigate the matter....
Just when you thought the folks in Europe were in love with bitcoin, regulators at the European Banking Authority (more commonly known as EBA) have released a warning to European citizens on the dangers of bitcoin. Thankfully, the warning is designed to educate citizens on the possibility of theft and fraud, noting especially that those who dabble in bitcoin are not protected by EU regulations, and as such, should take caution when getting involved in the world of digital currencies. "Consumers should be aware that exchange platforms tend to be unregulated and are not banks that hold their....
The European Securities and Markets Authority (ESMA) will soon have the power to ban blockchain or distributed ledger technology (DLT), come January 1, 2018. Speaking at a London conference called “Blockchain Technology: The Future for Financial Services”, last week, senior ‘risk analysis’ officer Patrick Armstrong spoke [PDF] about the challenges and opportunities with blockchain technology. Armstrong is a part of the Innovation and Products team at ESMA, the Paris-based EU financial regulatory authority that establishes legislation and regulation for European financial markets. The....