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"Digital euros are euros, but bank deposits are not euros. Deposits are just promises to pay euros, and if banks can't fulfill those promises, then you get crises emerging," he said, adding that a CBDC would have the benefit of stability, justifying the use of the digital euro instead of
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In a consultation paper released on Nov. 24, the European Banking Authority (EBA), an EU agency tasked with implementing a standard set of rules to regulate banking across all EU countries, highlights that existing regulations governing Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) standards compliance for crypto providers are inadequate. The
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"I believe it is our responsibility – not only the central bank's, but also the financial industry's – to be ready to ensure that a service which is key to society's well-being, as the payment system is, does not come under threat. Therefore, and irrespective of the decision which is
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The head of the European Central Bank (ECB), Christine Lagarde, said that the EU needs its own version of the U.S. Securities and Exchange Commission (SEC). As Financial Times reports, citing Lagarde’s words at a speech in Frankfurt, the creation of a European SEC will help attract the huge funds needed
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The fund continues to sell GBTC as shares have rallied 235% this year, outperforming bitcoin and traditional risk assets. Source
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The UK Information Commissioner’s Office (ICO) and the European Data Protection Supervisor (EDPS) have signed a Memorandum of Understanding (MoU), which reinforces their common mission to uphold individuals’ data protection and privacy rights, and cooperate internationally to achieve
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Trading platform Robinhood has revealed its intentions to expand into Europe in the coming weeks. The company is exploring establishing brokerage operations in the United Kingdom. It made this decision known on Tuesday, Nov 7.The commission-free trading app made this announcement as it revealed its third-quarter results, indicating a revenue
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The European Central Bank emphasizes that the digital euro will modernize and future-proof the pan-European financial ecosystem. The European Central Bank (ECB) today has published a statement on how the digital euro will benefit EU consumers and transform the European economy. The ECB emphasized that its key aim is to proactively
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Binance Visa debit card services will close down in the European Economic Area (EEA) on December 20, according to an announcement by the cryptocurrency exchange on Oct. 20. Binance accounts will be unaffected.According to a Binance letter to customers posted online, the Binance card issuer, Finansinės paslaugos “Contis” — or Contis
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The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) on Oct. 20 jointly released a consultation paper featuring two drafts. These drafts encompass the assessment of the suitability of management body members and shareholders or members holding qualifying stakes in issuers of asset-referenced tokens (ARTs) and
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