The European Commission wants financial firms and other companies to share more customer data to create a “broader open finance space" with new services for citizens, according to a draft of the Digital Finance Strategy seen by EURACTIV.
The finance ministers of France, Germany, Italy, the Netherlands and Spain called on the European Commission to include “strong rules” in its upcoming cryptocurrency proposal, in particular for global digital tokens like Facebook’s Libra.
The EU will set up a new college of supervisors, including national and European authorities, to oversee “significant” digital currencies including Facebook’s Libra, according to the European Commission’s cryptocurrency draft proposal seen by EURACTIV.
The European Commission will present later this year new rules to develop a “sound” crypto-asset market in the EU, including for stablecoins such as Facebook’s digital currency Libra, financial services commissioner Valdis Dombrovskis, said on Tuesday.
Facebook-sponsored digital currency Libra is determined to getting the green light by European regulators next year, despite the numerous concerns raised by EU finance ministers, a senior representative of the project told EURACTIV.com.
The European Central Bank (ECB) will embark on a strategic review of its mandate and instruments to achieve its inflation target of 2% with an “open mind”, its president Christine Lagarde said on Monday (2 December).
The European Commission has called for a “proportionate” and differentiated approach to regulating digital currencies including Facebook’s Libra, as the EU needs to preserve is developing Fintech environment.
Europe is ready to “prevent the development” of risky digital currencies including Libra until all concerns have been addressed, according to the latest proposal to be discussed by EU finance ministers and seen by EURACTIV.com.
States need to be prepared and equipped to tax what cannot be seen, but also to increase the fairness and effectiveness of the collection of tax revenues, a panel of experts has agreed. The Focus Group ‘Smart taxation in a...
The Economic and Financial Committee (EFC), which brings together the EU’s member states, has requested an analysis note from the European Commission to further look into the risks posed by Facebook’s controversial digital currency Libra and the ways to regulate it.
Resolving global trade tensions must be a top priority to preserve an expected modest rebound in global growth, European Union finance ministers will tell G20 counterparts this week amid an escalating US-Chinese trade conflict.
Cryptoassets are dangerously unregulated and may give rise to criminal activities, according to two recent assessments published by the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA).
European decision-makers and regulators are progressing towards an EU approach for dealing with cryptoassets, digital assets that use cryptography such as Bitcoin and represent a booming market still viewed with concern by financial supervisors.
The European Commission is still hesitant to regulate cryptocurrencies, despite a warning issued by European regulators and bans imposed in other regions following the rising market volatility of digital currencies.
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