European Union

EU explores integrating cryptocurrencies into €12 trillion investment market, potentially eclipsing US crypto ETFs. ESMA's consultation on crypto under UCITS framework heralds a significant shift. Despite benefits, challenges like aligning custody practices remain, indicating a complex path ahead.

EU Parliament endorses stricter anti-money laundering laws. Centralized oversight, enhanced due diligence for sectors including crypto.

New EU regulation enhances anti-money laundering measures for crypto-asset service providers (CASPs), requiring stricter due diligence and reporting of suspicious activities to Financial Intelligence Units (FIUs).

EU outlaws anonymous self-custody crypto wallets in new AML laws. Approved by majority, opposed by Dr. Patrick Breyer. Public resistance emphasizes importance of financial freedom.

EU Parliament and Council tentatively agree on crypto anti-money laundering rules. Regulations mandate identity checks for transactions over 1,000 euros, aiming for parity with traditional banks. Concerns arise over potential stringency on crypto firms compared to banks. Final approval pending, with ongoing technical discussions.

Recent data indicates that the total count of registered crypto entities across the 27-member bloc has reached at least 11,597, based on information sourced from official registers in member states.

Ripple's VASP registration in Ireland marks a significant stride in its European expansion, enhancing its role in the global digital asset landscape.

The European Union (EU) achieved a breakthrough on the AI Act, establishing a comprehensive legal framework governing the use of artificial intelligence within its jurisdictions. This pivotal agreement aims to regulate AI's deployment across various sectors and sets distinctive guidelines for different categories of AI systems.

The ECB's recent report acknowledges cryptocurrencies, notably Bitcoin, as a potential store of value globally. Factors such as speculative investment, stability amidst economic uncertainty, and facilitating cross-border transactions contribute to their adoption. The report highlights the impact of fiat currency devaluation on the rise of crypto trading, emphasizing Bitcoin's role in providing financial alternatives during macroeconomic instability.

The EC's methodology for assessing Bitcoin's environmental impact sparks criticism, with concerns of potential EU-wide mining bans. Batten calls for community unity, emphasizing Bitcoin's positive contributions and urging a critical evaluation of regulatory proposals.