09 Feb

European Commission announces Blockchain Observatory & Forum

By Daniel Zo Blockchain, EU, European Commission Read Comments

While digital currencies seem to be losing value given the massive bear going on at this moment in time, institutions, governments and international organizations throughout the world are showcasing an increased interest towards blockchain, the underlying technology of bitcoin and many other cryptocurrencies.

With this aspect in mind, recent reports indicate that the European Commission has decided to launch their very own EU Blockchain and Observatory Forum, in order to boost blockchain-related projects within the European Union. For those who do not know, the European Commission is the executive body of the EU, in charge with legislative initiative, budget management and control over other EU institutions.

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19 Sep

Experts Believe That The Anti-money Laundering Europol Task Force Will Help Shape Bitcoin’s Popularity

By Daniel Zo Bitcoin, Europol, Money laundering Read Comments

Amidst growing fear of Bitcoin and other digital currencies being used for illegal purposes, such as money laundering, the Europol has recently set up a group meant to combat the process with the help of bitcoin.

According to recent reports, the launch of the Bitcoin money laundering division by the Europol, as a result of their partnership with the INTERPOL and the Basel Institute of Governance, may actually prove beneficial for the industry.

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27 Jul

European Commission Pushes Forward Proposal To Track Bitcoin Users

By Daniel Zo Bitcoin, EU, European Commission Read Comments

During the last couple of months, the position of the European Commission concerning digital currencies has gradually changed. To fulfil their goal of preventing terrorism financing and money laundering, the legislative body has decided to create a database of digital currency users and record bitcoin transactions.

Not only is this against the principles of anonymity and transparency that bitcoin and other digital currencies strive for, but many believe that the decision is also morally wrong. According to recent reports, the Commission believes that a regulatory framework for digital currency platforms must be formed as soon as possible, as they aren’t monitored nor observed by the European authorities.

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14 Jul

European Commission Directive Could Harshly Affect The State Of Digital Currencies In The EU

By Daniel Zo Bitcoin, European Commission, EU Read Comments

During the last couple of months, Bitcoin has been the subject of discussion for numerous government meetings, looking for new ways to regulate the digital currency.

According to recent reports, last week, The European Commission published a directive draft including a couple of proposals for the future of Bitcoin. With this in mind, it means to extend anti-money laundering regulation to exchanges and bitcoin wallets. The reason behind this is to help counter tax evaders, fraudsters, terrorists, money launderers, drug dealers and other criminals.

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05 Feb

The European Commission plans to ban anonymous transactions

By Daniel Zo Bitcoin, European Commission, Ban Read Comments

After numerous government studies have been carried out upon bitcoin criminality, law enforcement agencies have chosen to remain vigilant, to foresee any events before they happen.

With this in mind, recent reports indicate that European officials believe that bitcoin can be and is used to fund terrorist groups, due to the currency’s anonymous state. Based on this, the European Commission (EC) wants to put an end to anonymous trading with digital currencies.

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02 Oct

The Europol releases official report on Bitcoin

By Daniel Zo Bitcoin, Europol Read Comments

In the last couple of weeks, we’ve seen a large number of developments from the bitcoin market, with companies showcasing interest towards the digital currency’s underlying system, US institutions declaring bitcoin a commodity and more.

However, we’ve also seen some negative developments, which we ought to discuss about, as the Europol has just issued a report stating that it believes that it’s likely for bitcoin to become the go-to currency for internet criminals throughout Europe. Based on a report outlining the top cybercrime treats which the European Union faces, we can see how the cryptocurrency is used in illegal activities, alongside with how extortionists use bitcoin to seize funds from people.

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14 Jul

Is the Bitcoin value increase linked to the Greek financial crisis?

By Daniel Zo Bitcoin, Greece, ATM, Euro Read Comments

If you haven’t been living in a cave, then chances are that you have heard about the Greek crisis, and what this means for the euro if Greece will leave the Eurozone. In light of the recent negotiations that have been going on between the country and the EU representatives, conflicts have begun sprouting throughout Greece, as people have been forbidden to withdraw more than 40 euros from ATMs on a daily basis.

In turn, this has managed to have a positive impact on the cryptocurrency, as more and more Greeks have begun investing their money into Bitcoin, as a way to make sure that they still keep their money even if the euro falls. A similar technique may have been adopted by people from other Eurozone countries, as a fall of the euro is now very likely in case a good decision for all sides is finally reached, and Greece is pulled out of the crisis.

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