News & Analysis as of September 25, 2024

European Commission

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Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender status, Virtual Currency is still traded and exchanged in some environments, typically online environments or communities. Bitcoin is the most well-known form of Virtual Currency. less -

Blog: Virtual currencies & the 4th Anti-money Laundering Directive: ECB Opinion on the Commission’s proposals

Cooley LLP on 10/18/2016

The European Commission published proposals to amend the 4th Anti-money Laundering Directive, to bring crypto-currency exchanges and wallet providers within scope, in early July 2016. The European Banking Authority...more

A System of Voluntary Self-Identification in the World of Virtual Currencies

Locke Lord LLP on 10/7/2016

On 5th July 2016, the European Commission (the “Commission”) published a proposal for a Directive amending the Fourth Money Laundering Directive (“Proposed Directive”), which sets out, amongst other things, to bring into...more

Blog: European Commission considers database to end crypto-currency anonymity

Cooley LLP on 7/28/2016

The European Commission has published a proposal that, if made and brought into force, will amend the 4th Anti-money Laundering Directive (4AMLD) before the Member States are required to transpose it into their national laws....more

EU Proposal to Address Virtual Currency Exchanges & Wallet Providers in Anti-Money Laundering Laws

Goodwin on 7/18/2016

The European Commission recently published a proposal to amend the Fourth Anti-Money Laundering Directive, the legislation that specifies the anti-money laundering, or AML, and counter terrorist financing rules for EU Member...more

Blog: European Commission brings virtual currency exchanges & wallet providers within the scope of the 4th Anti-money Laundering...

Cooley LLP on 7/6/2016

The European Commission has published a proposal for a directive that will amend the 4th Anti-money Laundering Directive (4AMLD). If the directive is made and brought into force, the EU Member States will be obliged to...more

Blog: European Council To Ask Commission To Strengthen Controls Over Electronic Payments & Virtual Currencies

Cooley LLP on 11/20/2015

It’s being widely reported in Europe this evening that, after tomorrow’s extraordinary meeting of the European Union’s Justice & Home Affairs Council meeting, the European Council will ask the Europe Commission to “present...more

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