Under the new rules, a fintech company that obtains a license to operate in one EU nation will be able to provide services in the trading bloc’s 26 other member states automatically.
EU: four years to provide clear crypto asset regulations
New documents suggest that putting rules in place governing the use of stablecoins and cryptocurrencies will not happen until 2024
The goal is to make it faster, easier and less expensive to use digital assets like cryptocurrencies and stablecoins throughout the eurozone by providing a regime of “same risk, same rules, same regulation.”
China testing digital yuan in four cities
European and Asian countries have been scrambling to catch up in the race for a digital currency, even as the U.S. drags its heels; annoucement suggests no 2022 Winter Olympics roll-out
The People’s Bank of China (PBoC) said in an April 17 release that its prototype, central bank-issued digital yuan is being put through its paces in Shenzhen, Chengdu, Suzhou, and Xiong’an, which lies about 60 miles from Beijing. It will also be tested at the 2022 Winter Olympics in Beijing.
EU scrambles coronavirus blockchain taskforce
The European Union-founded International Association for Trusted Blockchain Applications seeks to speed the solution to ‘a humanitarian crisis of cruel proportions’
A new European Union taskforce has been scrambled to quickly activate blockchain solutions that tackle challenges associated with the coronavirus pandemic.