EU

EU Data Act Proposes Shutdown Function for Smart Contracts

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The European Union has published its new Data Act, a law proposal that aims to regulate the generation and handling of data by the actors that harness it. The act, in its large scope, touches on the subject of smart contracts…

Ukraine Targets Russian Politicians’ Crypto Wallets as Russian Banks Are Cut From SWIFT

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Ukraine is now trying to expose cryptocurrency wallets used by politicians in Moscow amid warnings that Russia may employ digital coins to circumvent sanctions. The initiative comes as western allies agree to expel some Russian banks from SWIFT, the global interbank…

European Commission to Launch Digital Euro Consultations in March, Propose Bill Early Next Year

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The executive arm of the EU is gearing up to start public consultations on the digital euro project next month. The European Commission will also prepare new legislation to establish the legal basis for the digital version of the common European…

Regulator Reiterates Call for EU Ban on Proof-of-Work Mining

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The EU should prohibit proof-of-work crypto mining, an executive at the European securities watchdog has insisted. Coins relying on the energy-intensive method of minting pose a risk to efforts aimed at meeting climate change goals such as those set in the…

Europe’s Securities Watchdog Seeks Feedback on Regulations Ahead of DLT Pilot

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ESMA, the European Securities and Markets Authority, has set out to establish if EU authorities need to amend existing regulations in order to facilitate the trading and settlement of tokenized securities. The regulator is now seeking opinions on the matter ahead…

Eurosystem Approves New Oversight Framework Concerning Crypto Services

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The monetary authority of the euro area, the Eurosystem, has introduced a new framework for overseeing electronic payments, including services related to crypto assets. The new set of rules will complement upcoming EU regulations for cryptocurrencies and stablecoins. ECB Aims for…

Onecoin Victims Petition Bulgaria for Seizure of Assets and Compensation

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A lawyer representing investors defrauded by the notorious crypto scam Onecoin has urged authorities in Bulgaria to act on the case, claiming that the “world’s largest pyramid scheme” is still operating from the country. In a petition with the Bulgarian Constitutional…

BNY Mellon Urges Ireland to Adopt Crypto Rules Before EU Regulations, Report Reveals

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As authorities in the EU are still discussing union-wide cryptocurrency regulations, a major U.S. bank has reportedly lobbied the Irish government to adopt its own rules for the space. BNY Mellon launched its digital asset business in Ireland this year to…