• EU blasts German regulators Wirecard
    Regulation

    EU blasts German regulators over the failure of crypto debit card issuer Wirecard

    The high flying fintech collapsed this summer after an audit revealed massive fraud, including more than $2.2 billion missing from its accounts

    A major issuer of cryptocurrency debit cards since 2018, payments processor Wirecard starting coming apart in mid-June, when the Financial Times reported that its shares had fallen by more than 60% after the firm’s auditors warned that €1.9 billion (nearly $2.23 billion) was missing from its accounts. Before going into bankruptcy in late June, the fintech firm had been a big success, with operations far beyond the crypto business earning it a place on Germany’s prestigious Dax 30 stock index.

  • Another way the EU would regulate crypto.
    Europe

    EU will focus on crypto regulation in 2019

    A pair of reports issued this month call for expanded and unified banking and securities rules for crypto-assets

    The European Union began the new year with a new focus on the regulation of cryptocurrencies, with a pair of reports finding that neither EU banking nor securities laws are currently up to the task of overseeing these new financial assets.