Bitstamp helps Stripe scale crypto purchases in the EU

August 7, 2024 Coin Telegraph

Bitcoin

Bitstamp entered a partnership to support Stripe’s crypto on-ramp solution in Europe a few months after Robinhood announced its $200 million acquisition of the exchange.

Cryptocurrency exchange Bitstamp is collaborating with the fintech platform Stripe to make cryptocurrencies like Bitcoin more accessible in Europe.

Bitstamp announced the partnership on Aug. 7, allowing consumers across the European Union to purchase crypto via Stripe’s fiat-to-crypto on-ramp.

“This provides users with a seamless checkout experience optimized for cryptocurrency conversion and allows near instant settlement of cryptocurrency transactions,” Bitstamp noted in an announcement on X.

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EU MiCA implementation is a “pivotal moment” for crypto regulations: compliance expert

August 2, 2024 Coin Telegraph

bitcoin regulation

The European Central Bank recently joined forces with Crystal Intelligence, as its blockchain analytics partner for the upcoming MiCA implementation.

The European Union is preparing to roll out the Markets in Crypto Assets (MiCA) bill, as the first comprehensive regulatory framework for the crypto industry.

This would make the European Union the first jurisdiction with a holistic regulatory framework on digital assets.

While it is a pivotal moment for crypto regulation, the actual implementation could present significant challenges, according to Hedi Navazan, the head of compliance and regulatory affairs at Crystal Intelligence.

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Digital euro to be ‘most private electronic payment option’

July 30, 2024 Coin Telegraph

Banks

Since the inception of the digital euro, many critics have called the proposed digital currency a surveillance tool.

The digital euro will be one of the most private forms of electronic payment, according do a data protection official from the European Union.

On Oct. 2, 2020, the European Central Bank (ECB) released a report laying the groundwork for its central bank digital currency (CBDC), the digital euro.

The digital euro has been in its investigation phase since October 2021, during which ECB officials and bankers hypothesized about its possible design and purpose.

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Meta won’t launch new AI products in EU, citing ‘regulatory uncertainty’

July 18, 2024 Coin Telegraph

Apple

The door is now wide open for Google and Microsoft to gain first movers' advantage over the entire continent.

Meta is the latest US-based tech giant to pause artificial intelligence releases in the European Union. The company joins Apple, who in June announced that it would be withholding several AI-powered iPhone features from customers in the EU.

Neither company, so far, has given a timeline or described what, exactly, needs to happen for the embargoes to lift, but both companies have cited “regulatory uncertainty” as the catalyst.

In a statement sent exclusively to Axios on July 17, a Meta spokesperson said:

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Elon Musk’s X could face $200M EU fines over alleged DSA violations

July 12, 2024 Coin Telegraph

Elon Musk’s X could face 0M EU fines over alleged DSA violations

Coin Telegraph

At the heart of the findings are the “blue check” verification systems and X’s alleged obfuscation of data.

The European Union released documents on July 12 indicating that Elon Musk’s X.com has been preliminarily found to be in breach of the Digital Services Act (DSA).

According to the EU’s preliminary findings, X violated the DSA on three separate counts and faces fines of “up to 6% of the total worldwide annual turnover of the provider.”

Per documents published by the European Commission:

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European Central Bank is exploring blockchain and MPC technology

July 10, 2024 Coin Telegraph

Blockchain

The central bank has been experimenting with multiparty computation, which could support the entire European economy in the future.

Central banks worldwide are increasingly exploring blockchain technology adoption, with the European Central Bank (ECB) being the latest example.

The ECB recently completed a blockchain experiment for its central bank digital currency (CBDC) with Zama, according to the firm's chief academic officer, Nigel Smart.

He said during a panel discussion at FHE Summit 2024:

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Stablecoins USDC and EURC Now Compliant With European Union’s MiCA, Says Circle CEO Jeremy Allaire

July 3, 2024 The Daily Hodl

Altcoins

Circle’s digital assets designed to be pegged to the US dollar and the euro have achieved compliance with the European Union’s laws, according to the stablecoin issuer’s CEO, Jeremy Allaire. Allaire says that Circle is now the “first global stablecoin issuer to be compliant” with the Markets in Crypto Assets (MiCA) regulations. MiCA is a […]

The post Stablecoins USDC and EURC Now Compliant With European Union’s MiCA, Says Circle CEO Jeremy Allaire appeared first on The Daily Hodl.

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Circle’s Stablecoins Now MiCA Compliant

July 2, 2024 Bitcoin.com

bitcoin.com

Circle has announced that its stablecoins, USDC and EURC, are now compliant with the EU’s Markets in Crypto Assets (MiCA) regulation. This compliance allows Circle to natively issue these stablecoins to European customers. The company is also authorized as an e-money issuer in France, which now serves as its European headquarters. Circle’s Stablecoins Achieve EU […]

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SEC drops investigation into Ethereum: Law Decoded

June 24, 2024 Coin Telegraph

bitcoin etf

A letter from Consensys states that the SEC’s approval of spot Ether exchange-traded funds indicated that it had “updated its position to classify ETH as a commodity and not a security,” but not everyone agrees.

The United States Securities and Exchange Commission’s (SEC) case to prove Ether is a security may not have been as strong as it let on. The SEC closed its investigation into whether Ether is a security on June 19.

Consensys lawyer Laura Brookover said there will be “no more protestations from the SEC that Ether is a security.” She said it was a reaction to being pushed to “lift the subpoenas on Consensys given their recent ETH [exchange-traded fund] rule change approvals predicated on ETH being a commodity.”

The letter from Consensys states that the SEC’s approval of spot Ether (ETH) exchange-traded funds (ETFs) indicated that it had “updated its position to classify Ether as a commodity and not a security.”

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Uphold to delist USDT and 5 stablecoins by July 1, citing MiCA

June 18, 2024 Coin Telegraph

Coin Telegraph

Apart from Uphold, other major crypto exchanges, including Binance, Kraken and OKX, also tweaked their stablecoin listing policies to comply with MiCA regulations.

Cryptocurrency exchange Uphold has sent a notice to its European users informing them that the platform will end support for six popular stablecoins from July 1. Uphold says it is delisting the stablecoins to align with the European Union’s Markets in Crypto-Assets Regulation (MiCA).

The six stablecoins are Tether (USDT), Dai (DAI), Frax Protocol (FRAX), Gemini dollar (GUSD), Pax dollar (USDP) and TrueUSD (TUSD). Users holding these stablecoins must convert them to a different cryptocurrency before June 28, after which the cryptocurrency exchange will automatically convert them into USD Coin (USDC).

MiCA was passed into law in May 2023 and went into partial effect in June 2023. The extensive EU crypto laws are expected to come into full force by the end of 2024.

European Union

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