News & Analysis as of September 19, 2024

Virtual Currency › European Banking Authority (EBA)

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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 -

Daily Financial Regulation Update -- Saturday, July 2, 2022

Paul Hastings LLP on 7/5/2022

Major Developments- Justice Department Announces Enforcement Action Charging Six Individuals with Cryptocurrency Fraud Offenses in Cases Involving Over $100 Million in Intended Losses...more

European Banking Authority Reports on EU Regulatory Perimeter for Crypto-Assets

A&O Shearman on 1/21/2019

The European Banking Authority has published a report on the application and suitability of the EU bank regulatory framework for crypto-assets. The report is in response to the European Commission's request in its FinTech...more

Cryptoassets and ICOs: EU Regulators Show Their Hand

White & Case LLP on 1/15/2019

On 9 January 2019, the European Banking Authority (EBA)1 and the European Securities and Markets Authority (ESMA)2 published two reports with their advice on cryptoassets for the European Commission (EC) (and in ESMA's case,...more

EU regulators warn consumers of virtual currencies bubble

Hogan Lovells on 2/14/2018

Three European regulators have warned investors about the risks associated with dealing with virtual currencies, saying they are unsuitable “for most purposes, including investment and retirement planning”....more

Digital Currencies: International Actions and Regulations

Perkins Coie on 1/27/2017

Argentina - Virtual currencies are not legal tender under the country’s National Constitution, which designates the Central Bank as the only authority that may issue legal tender. Although not specifically regulated,...more

Blog: 5th Anti-money Laundering Directive: Presidency compromise text published / ECB recommendations accepted

Cooley LLP on 11/1/2016

The Council of the European Union has published the first “Presidency compromise text” version of (what is now being referred to as) the 5th Anti-money Laundering Directive (5AMLD) (it used to be “an amendment to 4AMLD”...more

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

European Banking Authority Opines on Virtual Currencies and the Fourth Anti-Money Laundering Directive

A&O Shearman on 8/23/2016

The European Banking Authority published an Opinion on the Commission’s proposed amendments to the Fourth Anti-Money Laundering Directive and its application to virtual currencies. The Commission is proposing to bring...more

Blog: Virtual currencies & the 4th Anti-money Laundering Directive: EBA criticizes Commission’s proposals

Cooley LLP on 8/15/2016

The European Banking Authority has published an Opinion, which criticizes the Commission’s approach to virtual currencies (VCs) and its proposed amendments to the 4th Anti-money Laundering Directive (4AMLD). In its 2014...more

Virtual Currencies: International Actions and Regulations

Perkins Coie on 10/5/2015

This chart is provided by Perkins Coie LLP’s Decentralized Virtual Currency industry practice group for informational purposes only and is not legal advice. This information is not intended to create, and receipt of it does...more

ESMA Issues Call for Evidence on Virtual Currency

Katten Muchin Rosenman LLP on 4/29/2015

On April 22, the European Securities and Markets Authority (ESMA) issued a call for information (Call for Evidence) on virtual currency. Unlike recent studies performed by the European Banking Authority and HM Treasury, ESMA...more

Alert: The Regulation of Virtual, Digital and Crypto-currencies

Cooley LLP on 1/14/2015

There are more than 6004 virtual currencies in use around the world today. Bitcoin is one of the best known and most widely used in Europe and North America. ...more

Bitcoin In The News: International Reports, California Makes It Legal

Manatt, Phelps & Phillips, LLP on 7/25/2014

Virtual and digital currencies continue to be the focus of policy makers around the globe. In addition to new reports from international bodies addressing both the benefits and risks of the currencies, California...more

EBA Report on Consumer Trends 2014

Orrick - Finance 20/20 on 3/17/2014

On February 28, the European Banking Authority (EBA) published a report on consumer trends in the areas of consumer protection and financial innovation as well as the approaches the EBA will be taking in 2014 to address them....more

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Virtual Currency › European Banking Authority (EBA)

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