Parliament

Joana Cotar, an independent member of the Bundestag, one of Germany’s legislative chambers, has called on the government to stop the ongoing Bitcoin (BTC) sell-off, which has had a notable impact on the BTC market, resulting in a 10% drop in the cryptocurrency’s price over the past two weeks.  Bitcoin As Valuable Asset Class For State Treasury In a letter addressed to the government, Cotar emphasized that BTC has gained recognition as a genuine asset class and a promising investment…

The European Parliament has approved new regulations for cryptocurrency agencies, forcing them to conduct due diligence to fight money laundering. The new rules affect all crypto-asset service providers (CASPs) under the new Markets in Crypto-Assets (MiCA) law. Cryptocurrency exchanges in the European Union must adhere to the new rules, which contain due diligence standards. Services like exchanging crypto for fiat and providing custody wallets will now take a new approach due to rapid technological developments and advancements in FATF (Financial…

The European Parliament’s recent passage of stringent anti-money laundering regulations signifies a significant crackdown on financial crime within the cryptocurrency industry. The legislation introduces tighter oversight on non-custodial wallets, aiming to bolster transparency and combat illicit activities. However, concerns linger regarding the impact on user autonomy and the broader adoption of blockchain technologies. On Wednesday, April 24, the European Parliament passed a new rule in order to combat the violation of anti-money laundering (AML) rules while addressing incidents of terror…

The European Union has passed stringent anti-money laundering laws that ban anonymous crypto transactions made through hosted crypto wallets.  The ban is part of the European Union’s expanded Anti-Money Laundering (AML) and Counter-Terrorist Financing Laws.  EU Bans Anonymous Crypto Transactions  The legislation, approved on the 19th of March, puts certain limits on cash transactions and anonymous cryptocurrency payments. The new rules ban anonymous cash payments over €3,000 in commercial transactions. It also states that cash payments over €10,000 will be…

A full parliamentary Assembly session in South Korea has passed an amendment to the Act on Reporting and Use of Specific Financial Information. This is according to a local news report In light of this amendment, the trading of crypto can now be incorporated into the South Korean legal system for it is legitimate. South President Jae-in Moon has signed it paving the way for the bill to become law of the land. The approval process should begin in about…