Cryptocurrencies as an innovative, distributed accounting system collecting and storing information about the hold in contract units have earned the sympathy and trust of people from all over the world. All thanks to its specificity and internal conditions. The aforementioned holding is related to certain system nodes - the so-called wallets. This ensures a total control over a given cryptocurrency wallet strictly to the holder of the corresponding private key.
If this holder (network user) expresses a readiness to make a transaction - it takes place entirely electronically - between him and between the interested contractor directly. Each cryptocurrency unit has a unique code containing all relevant information aiming to prevent its undesirable use (copying or spending).
Virtual tokens are distinguished the best by the fact that they do not have any supervisory body that could control them. The decentralized character of digital coins makes them more popular and more and more universal.
Cryptocurrencies are traded electronically only - directly between a minimum of two network users (thanks to peer-to-peer technology).
This category: ‘cryptocurrencies - news from Europe’, contains news that will be useful to everyone, regardless of their age, position or experience in this market.
It is worth highlighting that Europe and, more precisely speaking, the European Union, has not standarised the rules on digital assets yet. Individual institutions, such as the European Central Bank, or central banks of individual countries, present various opinions on the legal status of digital currencies. Therefore, it is worth following all the news appearing in this tab. They constitute a source of reliable and valuable knowledge that allows you to understand this difficult, dynamic industry better.
BaFin, a German regulator, has just set guidelines so as to clarify the status of cryptocurrencies in Germany. According to the guidlines, the country officially recognized cryptographic assets, such as Bitcoin (BTC), as a financial instrument. Moreover, the depositors of such assets (including trading platforms) are regarded as financial institutions and, in order to be able to operate legally in the country, it is necessary for them to obtain a license from the regulator.
CONSOB blocks another eight websites that offer financial and investment services. One of the services is, for instance, trading in cryptographic assets, currencies and CFD contracts. The regulator claims that the operation of the companies was illegal in Italy and that it has blocked nearly 150 websites of this kind over the past few months.
The Lithuanian Central Bank issued a press release in which it informed about the intention to release the world's first digital collector coin dedicated both to the Act of Independence of Lithuania (from the 16th of February, 1918) and to its twenty signatories.
As the latest reports show, the digital currency issued by the French central bank will be tested at the beginning of the next year. As a consequence, France is taking the lead in the race to issue the first digital currency of the central bank.
Europe is clearly concerned that the United States and China may dominate the online payment system through digital currencies. The European region is of the opinion that there is a gap which should be filled in order to make transactions faster, cheaper and safer.
The Tunisian Central Bank (BCT) has denied the information about the preparation to launch an "e-dinar". In a public statement, the bank has also emphasized that it has not contacted any domestic or foreign company in order to issue its own digital currency.
A few days ago, the Association of German Banks declared itself in favor of issuing a digital euro. Because of this, a thorough report was issued explaining why the economy is in need of a currency like that.
According to the reports of the local news portal, RBC, a company belonging to the spokesperson of the Russian Internet, Dmitry Marinichev, will change the, now closed, Rusala factory focused on aluminum production into a Bitcoin mine. Will this deal be lucrative? As a Russian mining company called RMC believes - yes!
According to the news released by the RNS portal, the Russian Ministry of Finance is considering the regulation of cryptocurrencies according to three distinct legal categories. These are: technical tokens, virtual assets and digital financial assets.
David Marcus (a co-creator of Libra) decided to respond to numerous allegations directed at Facebook's cryptocurrency. In his opinion, anxieties related to the fact that this stablecoin may threaten the sovereignty of fiat currencies are a myth!
Bruno Le Maire, who is the French Finance Minister, revealed his opinion on Libra, as it is expected to appear on the market soon. According to him, France shares the concerns of the European Central Bank.
The Dutch central bank has announced that institutions that provide any cryptocurrency services must prepare for new legal regulations from January 2020.Date of changesJanuary 10, 2020 - it is then that the new regulations prepared by De Nederlandsche Bank are to go into effect. Institutions conducting operations related to cryptocurrencies will have to register relevant documents in the bank in order to continue operating them.In the official statement of the central bank we can read:“In concrete terms, firms offering services for the exchange between cryptos and regular money, and crypto wallet providers, must register with De Nederlandsche Bank.”In July ministers of the Netherlands have attached a condition that cryptocurrencies have to be regulated; the reason is that not so long ago people have been concerned about increasing threat of money laundering, as cryptocurrencies are used for scams pretty frequently.Finance Minister Wopke Hoekstra received a note in January from the Dutch tax office and the central bank. It suggested the implementation of appropriate licenses that should be required from companies providing cryptocurrency services. The Netherlands is a country that does not officially recognize cryptocurrencies as a means of payment, but in 2018 one court ruled that Bitcoin is a "transferable value". In 2018, a survey was conducted on the most popular cryptocurrency exchanges used by the Dutch. Coinbase is the leader here, indicated by 23% of respondents. 12% of respondents said that they do not use any exchanges.
David Marcus, the leader of the Facebook project, Libra, confirmed that people responsible for this cryptocurrency are going to discuss its shape with the Swiss. Specifically speaking, the federal commissioner for personal data protection will be the person involved in the discussion.
Anatoly Aksakov, the chairman of the State Duma Committee on Financial Markets has finally explained the problems with cryptocurrencies, although he did so by accident. After announcing potential penalties for miners, he stated that possession of Bitcoin, despite the ban, is still possible.
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