Eu Financial News

Consumer protection groups from the European Union (EU) have urged regulators to conduct investigations on artificial intelligence (AI) models behind popular chatbots. 

France's markets watchdog, the Autorité des Marchés Financiers (AMF), said it fully supports globally coordinated, clear regulation for decentralized finance (DeFi) in order to protect users while fostering the novel and innovative sector's growth. 

Slovakia will codify the right to use cash as a method of payment after a vote to amend the nation’s constitution passed in parliament on June 15. 

Once again, the United States Securities and Exchange Commission (SEC) became the week’s headliner. Its intention to freeze the entirety of Binance.US’s assets got a reality check from U.S. district court Judge Amy Berman Jackson, who advised the regulator and the crypto exchange to negotiate a deal bilaterally. 

After a momentary retest of the $25,000 support on June 15, Bitcoin (BTC) gained 6.5% as bulls successfully defended the $26,300 level. Despite this, the general sentiment remains slightly bearish as the cryptocurrency has declined by 12.7% in two months.

Binance Markets Limited, a UK subsidiary of Binance, has canceled its registration with a UK regulator. 

Macro Markets, hosted by crypto analyst Marcel Pechman, airs every Friday on the Cointelegraph Markets & Research YouTube channel and explains complex concepts in layperson’s terms, focusing on the cause and effect of traditional financial events on day-to-day crypto activity.

Binance crypto exchange has decided to withdraw from the Dutch market following an unsuccessful attempt to obtain a virtual asset service provider (VASP) license from the Dutch regulator.

The regulatory crackdown on crypto in the US could prove to be just what is needed for the industry to thrive elsewhere, a recent Wall Street Journal article has indicated.

Cryptocurrency exchange Binance said it will leave the Netherlands after the company's application to register under the Dutch crypto authorization regime was rejected.

The company has failed in its bid to secure a virtual asset service provider (VASP) license in the Netherlands.It is not accepting new users with immediate effect and, from 17 July, existing users will not be able to make purchases, trades or deposits.Binance stresses that it is already compliant with EU standards on the prevention of money laundering and financing of terrorism as evidenced by its registrations in other EU countries, including France, Italy, Spain, Poland, Sweden and Lithuania.However, according to CoinDesk, it is facing money laundering troubles in France, where the authorities are investigating the firm.The probe relates to Binance potentially illegally operating as a digital asset service provider before it received regulatory approval last May.In addition, prosecutors tell CoinDesk, the investigation concerns possible "aggravated money laundering by taking part in investment operations, concealment and conversion, the latter being carried out by perpetrators of offenses having generated profits".In the US, the SEC has sued Binance and its CEO Changpeng Zhao, alleging a host of securities law violations and accusing the world's largest crypto exchange of engaging in an "extensive web of deception".

The European Union’s financial watchdog will launch a 3-part consultation process for the recently adopted Markets in Crypto Assets framework, or MiCA.

Cryptocurrency payments service Ripple (XRP) continues to see global adoption of its payment services despite a long-winded legal battle with the United States Securities and Exchange Commission over its XRP token.

Cyprus unit has applied to be removed from Cyprus' register of crypto asset service providers, the securities regulator website showed on Wednesday, in a move Binance said would allow it to focus on its larger European businesses. It was unclear when Binance applied to deregister. The exchange, the world's biggest, announced its registration with the Cyprus Securities and Exchange Commission in October 2022. A source at the regulator said on Wednesday that Binance never launched its business in Cyprus. The Cyprus registration allowed Binance to offer spot trading, custody and other services in compliance with Cyprus's anti-money laundering and counter-terrorist financing rules, the exchange has previously said on its website. A spokesperson for Binance said it was pulling back on Cyprus to sharpen its focus on its other companies in the European Union ahead of the rollout of the EU's crypto asset regulations (MiCA).

The European Parliament has passed the EU AI Act, a sweeping legislative framework for governance and oversight of artificial intelligence technologies in the European Union.

Binance, the world’s largest crypto exchange by trading volume, is seeking to delist itself from the register of authorized crypto asset service providers (CASPs) in Cyprus in order to focus its efforts on complying with the EU’s Markets in Crypto-Assets (MiCA) regulation.

Ukrainian regulators are prepared to start taxing crypto gains at 18% from 2024, with lawmakers set to vote on proposals this fall.

A proposed digital euro would have to be usable offline from day one to safeguard privacy, according to a draft law obtained by CoinDesk. 

Binance appears to be preparing to exit Cyprus. The Cyprus Securities and Exchange Commission has marked Binance Cyprus Limited as “Under examination for application for deregistration” on its website. 

The European Union’s executive branch will unveil plans for a digital euro that would require the European Central Bank to set limits on its use, according to a report from Bloomberg News. 

The European Union signed the Markets in Crypto-Assets (MiCA) regulations into law on May 31, making way for the landmark regulatory guidance on crypto assets and service providers to come into effect.