European Union

The future of Bitcoin mining in the European Union may hinge on today's pivotal vote in the EU Parliament. The EU Parliament's Committee on Economic and Monetary Affairs (ECON) is voting on the proposed Markets in Crypto Assets (MiCA) regulation draft. The proposed regulation is taking aim at crypto mining, due to concerns over its impact on the environment. In particular, the latest MiCA draft aims to limit the use of cryptos powered by the Proof of Work (PoW) mechanism. If…

Elrond will soon be able to issue e-money in European Union, thanks to regulatory approval of its recent acquisition. On Thursday, the blockchain startup won the approval of the Romanian Central bank to acquire a fintech company Twispay. Twispay is a Romanian financial institution that provides payment services and issues electronic money. It also offers payment services for Visa and Mastercard. Twinspay also has the license to operate in the entire European Economic Area. That includes the European Union, Iceland, Liechtenstein,…

A financial report published today by the European Central Bank (ECB) claims that cryptocurrency assets pose significant financial risks. The report written by ECB President Christine Lagarde focused on the future of money within the European Union. Lagarde highlighted the historical value of money from early times when physical commodities backed money to the current fiat monetary system. She acknowledged that the current technological innovation means that the financial landscape is moving towards digitalization. This trend was further accelerated by…

Spain's apex bank Banco de Espana is set to research the development of a CBDC. Banco de Espana released a strategic plan report where it revealed its priorities from 2020 to 2024. The apex bank plans to analyze policies from the European Central Bank (ECB) and trends within the Spanish economy. The report also looks at the effect of covid on banks, negative interest rates, and policies. Also, it revealed that CBDC research was a priority as part of new financial…

This year started as a promising new chapter for the cryptocurrency market. A Bitcoin halvening, a global pandemic, and seven months later have made 2020 a completely different year for the industry than what anyone expected. There are plenty of reasons to remember 2020 for many years from now. This year, the cryptocurrency community could go down as the one with some of the most representative regulatory changes in history. Today, we take a closer look at the 2020 cryptocurrency…