EU wants banks to back every digital asset held with fiat in new prohibitive measures
EU legislators voted in favor of a draft bill that seeks to impose new prohibitive measures to curtail banks’ involvement with “unstable” digital assets.
EU legislators voted in favor of a draft bill that seeks to impose new prohibitive measures to curtail banks’ involvement with “unstable” digital assets.
The raid resulted in the seizure of $1 million worth of digital assets, luxury apartments, and three cars, with over 250 suspects interviewed by police.
Initially proposed by the European Commission in March 2021, the policy program sets up a monitoring and cooperation mechanism to ensure the EU is progressing toward its key targets.
The Financial Stability Board has previously adopted a passive stance on the asset class, stating that while digital assets are inherently risky, they do not pose significant risks to the broader financial markets.
The kingdom of United Arab Emirates has set up an ambitious goal to become a global blockchain hub, searching for talents in Asia and Europe as competition with Gulf neighbors in the industry heats up.
The Minister of Finance in Norway proposed reverting to the original power prices for BTC miners after the 2016 subsidy as the country faces an energy crisis.
Digital asset transactions from Europe to Russia had been capped at $9,900, but the European Union says there was still some level of activity, necessitating the total ban.
The effort signifies the European Union’s renewed urgency in ensuring that European law addresses issues posed by digital assets.
Seeking to address client demands amid soaring digital asset adoption rates, DZ Bank will offer custody services from scratch that will be closely affiliated with wholesale CBDCs.
The European resolution calls for a "clear and broadly accepted definition of crypto assets and for a coherent definition of what would constitute a taxable event."
European Banking Authority chairman José Manuel Campa envisions challenges in hiring and retaining the specialized staff that will be needed as there is high demand for such talent across the market.
The proposed Digital Assets Bill lays the legal framework for the government to launch its own token and regulate private digital assets in the country.