[uncensored-r/CryptoCurrency] G20 Nations are colluding to “regulate” cryptocurrency internationally. This is bad for Crypto an...
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[uncensored-r/Bitcoin] Bitcoin Might Soon Face Tougher Regulations in Europe
The following post by ruskeeblue is being replicated because some comments within the post(but not the post itself) have been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7km6de The original post's content was as follows:
The Swift Institute working paper “The evolution of third party payment providers and cryptocurrencies under the EU's upcoming PSD2 and AMLD4” shows that cryptocurrencies keep on growing in the wild in the European Union as regulators are struggling to understand how they work. The paper sets out to inform that “within the EU, existing research has established that the application of the E-money and Payment Services Directives to cryptocurrencies is problematic, if not downright impossible” and that “it remains unclear how such cryptocurrencies should then be qualified from the perspective of financial law.” You can point a financial innovation where it can't fit usual definitions: “from the requirement that e-money is to be issued on receipt of funds it follows that an e-money issuer cannot decide to create new e-money units at will” and that “such would therefore exempt cryptocurrencies from the scope of application of the Second E-money Directive”, as new coins are usually created without the corresponding funds. The paper also notes that the European Central Bank “sees virtual currencies as an unregulated field”. It seems that there's also an empty chapter concerning the fourth Anti-Money Laundering Directive (AMLD4) as “the original Proposal AMLD4 does not mention cryptocurrencies, or virtual currencies at large. Also the opinions issued by the European Central Bank, the European Economic and Social Committee, and the European Data Protection Supervisor do not make any reference to this issue”. So, why don't they ask some kid around here to explain them what's going on? Here's the Swift paper: http://www.swiftinstitute.org/wp-content/uploads/2015/09/SIWP-No-2015-001-AML-Risks-of-the-Third-Party-Payment-Providers_FINAL.pdf The payment services directive: http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=CELEX:32007L0064:EN:NOT A coindesk article about the paper: http://www.coindesk.com/swift-bitcoin-regulation-eu-long-way-away/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+CoinDesk+%28CoinDesk+-+The+Voice+of+Digital+Currency%29
EU Bitcoin ATM Operators not in compliance with regulation?
I have been wondering how these Bitcoin ATM Operators are getting away with setting buy/sell limits this high, especially the no verification limits? Example; https://coinatmradar.com/bitcoin_atm/6765/bitcoin-atm-general-bytes-amsterdam-esm-phone-house/ located within the EU - has a 3000 EUR limit for no verification (and you can simply use it multiple times) How can a machine like that be in compliance with measures from Directive (EU) 2015/847 & Directive (EU) 2015/849? (847 clearly mentiones 1000 EUR without being linked as the maximum value to be transfered for a transaction) I am not a laywer, but hopefully somebody here can explain to me how this is 'legal'/'allowed' :)
New EU regulations put an end to buying Bitcoin anonymously - LocalBitcoins
Source link LocalBitcoins.com announced yesterday that it implemented new measures to satisfy the European Union’s (EU) 5th Anti-Money Laundering Directive(5AMLD). The changes came into force on March 18, and LocalBitcoins is the first exchange in Europe to align its business to 5AMLD guidelines.
Bitcoin Regulation by State (Updated 2018) August 4, 2017 9:49 pm by Frederick Reese. 14,616 Investors read this. Since the last time we updated this guide on bitcoin and altcoin legality by state, many of the states have moved to define their stance on altcoins. While some are legitimately concerned about money laundering and crime reduction, the vast majority of the states are seeking to ... EU to Launch Comprehensive Crypto Regulation by 2024: Report The European Union is planning to implement comprehensive cryptocurrency regulation by 2024, two EU reports have reportedly revealed. It contains policy recommendationsfor future EU standards. Cryptocurrencies and blockchain Legal context and implications for financial crime, money laundering and tax evasion . This document was requested by the European Parliament's Committee on Special Financial Crimes, Tax Evasion and Tax Avoidance. AUTHORS . Prof. Dr. Robby HOUBEN, University of Antwerp, Research Group Business& Law ... EU Regulation of Bitcoin and Virtual Currencies. Photo by Joshua Rawson-Harris on UnsplashP O L I T I C SThe first steps into an accepted virtual economy Bitcoin and other virtual currencies are becoming increasingly important. They are not money but are used by a growing number of users as a means of payment and investment. However, central banks and supervisory authorities have risks.and see ... The EU’s new General Data Protection Regulation (GDPR) policies place an emphasis on the ”right to be forgotten”, meaning that at any time an organization should be able to delete users’ personal data at their request. With immutable, decentralized blockchain technology, the question arises as to how blockchain projects will be able to ...