Italy Targets Bitcoin With Capital Gains Tax Hike as EU Prepares for MiCA Regulations

October 17, 2024 Bitcoin.com

bitcoin.com

Italy plans to raise its capital gains tax on bitcoin to 42%, up from 26%, as part of efforts to fund election promises and curb the fiscal deficit. The government cites growing bitcoin adoption as a key factor. This comes as the European Union prepares to implement its Markets in Crypto-Assets Regulation (MiCA), aiming to […]

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BRICS Erodes US and EU Hegemony as Nations Seek Sovereignty and Equal Cooperation

October 15, 2024 Bitcoin.com

bitcoin.com

BRICS is undermining the hegemony of Washington and Brussels as nations increasingly seek equal dialogue and cooperation that prioritize their own interests, according to Russia’s State Duma speaker. He stressed that countries are moving away from serving the U.S. and its allies, instead choosing partnerships that respect sovereignty and offer mutually beneficial cooperation, signaling a […]

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Academic paper suggests governments should attack public blockchains

October 7, 2024 Coin Telegraph

AML

Crypto exchange Kraken has announced the delisting of Monero in the European Economic Area to maintain compliance with EU regulations.

An academic paper titled: "Reconciliation of Anti-Money Laundering Instruments and European Data Protection Requirements in Permissionless Blockchain Spaces" published in the Journal of Cybersecurity suggests that governments should target cryptocurrencies — especially privacy preserving chains — to combat money laundering.

The author of the paper outlined several methods of undermining trust in permissionless blockchains including 51% attacks, price suppression, and Sybil attacks — a type of malicious activity in which a single user creates multiple accounts to manipulate a network. The author asserted:

However, the paper also argued that these methods should only be used as a "last resort" to combat money laundering after other policy initiatives such as blacklisting wallet addresses, flagging transactions, sanctions, and other regulations have been exhausted.

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Coinbase To Stop Supporting Non-Compliant Stablecoins in EU by the End of 2024, Including Possibly USDT: Report

October 5, 2024 The Daily Hodl

coinbase

Coinbase reportedly plans to cut support for certain stablecoins in the European Union (EU) by the end of the year. A spokesperson for the crypto exchange tells Bloomberg the exchange will delist stablecoins in Europe that don’t comply with the EU’s Markets in Crypto-Assets Regulation (MiCA). “Given our commitment to compliance, we intend to restrict […]

The post Coinbase To Stop Supporting Non-Compliant Stablecoins in EU by the End of 2024, Including Possibly USDT: Report appeared first on The Daily Hodl.

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Circle predicts stablecoins will become mainstream global payment method

September 15, 2024 Coin Telegraph

Circle

Stablecoin issuer Circle expects internet payment firms and other financial services companies will attempt to enter or expand in the space.

Circle, the issuer of the world’s second-largest stablecoin USDC, feels “confident” that stablecoins will become mainstream money. Simultaneously, regulations should be harmonized globally to ensure compliance for all payment stablecoin issuers.

“Circle is confident that there will be mainstream adoption of stablecoins as the money for the internet age,” Dante Disparte, chief strategy officer and head of global policy at Circle, told Cointelegraph in an exclusive interview.

“We expect there will be internet payments firms and other financial services companies that (will) attempt to enter or to expand in this space, which is a strong signal that stablecoins are here to stay,” Disparte pointed out.

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New regulators are set to define Europe’s crypto policies

September 4, 2024 Coin Telegraph

Coin Telegraph

The European Parliament is set to establish a new European Commission, and it will determine the next five years of crypto policy for the European Union.

It’s an election year around the globe, and the European Union is no exception. The European Parliament will vote this autumn on a new European Commission, which converts political priorities into draft legislation.

The new commission will not take office until November at the earliest, so it is still too early to assess the impact of the class of 2024 on cryptocurrency policies. However, we can identify a few trends predictive of how the fresh lawmakers are likely to handle regulation.

The first trend is that Europe’s center of gravity is moving to the right, and this will impact businesses of all sizes. Taxation and approaches to innovation will be subject to debate. France in particular will have a bumpy ride forward due to rising instability and its uncertain political future. It’s tied to the parliamentary election, and it’s something crypto companies should note.

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Turkey Seeks to Join BRICS to Strengthen Global Influence

September 3, 2024 Bitcoin.com

alliances

Turkey has reportedly formally requested to join the BRICS economic bloc to expand its global influence and establish new alliances beyond its traditional Western partners. Turkish President Recep Tayyip Erdogan’s administration views the shifting geopolitical landscape as an opportunity to strengthen ties with both Eastern and Western nations while remaining committed to NATO. Erdogan emphasized […]

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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.

European Union

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