Crypto Custodian Hex Trust Expands European Foray With Registration in France
The registration, which follows last year's approval in Italy, is "a significant milestone" for its European expansion plans, Hex Trust said. Source
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European
European digital asset manager CoinShares’ revenue up 33% in Q2
CoinShares, a manager of Bitcoin (BTC), Ether (ETH) and various altcoin crypto exchange-traded products (ETPs) in Europe, reported total revenue of 20.3 million pounds ($25.9 million) in the second quarter of 2023, a 33% increase compared wit the prior year’s quarter.According to the Aug. 1 announcement, the firm’s 25% year-over-year
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European Central Bank Follows US Fed’s Footsteps With 25 BPS Hike
On Thursday, the Governing Council of the European Central Bank (ECB) announced that it was raising “three key ECB interest rates” by 25 basis points (BPS) in a move similar to the one taken by the United States Federal Reserve. The US Federal Reserve, on Wednesday, increased its fund rates by
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European Union Stablecoin Issuers With Bank Assets Will Get Extra Regulation, Banking Authority Says
“Financial distress at one ART [asset-referenced token] or EMT [e-money token] issuer can materially increase the likelihood of distress at other issuers of crypto-assets or at other financial institutions given the network of contractual obligations in which issuers operate,” said the document, seen by CryptoX, referring to the two categories
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The European Commission’s Web4 strategy is a flop
On July 11, the European Commission formally adopted its new strategy on Web4 and virtual worlds with the aim of ensuring “an open, secure, trustworthy, fair and inclusive digital environment” for European Union citizens. The strategy is based on four main pillars, revolving around the empowerment of human resources, support
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FTX spent $400 million on the acquisition of its European branch
According to the legal team of the FTX investors, trying to return their funds through court, a failed crypto exchange spent “nearly $400 million” to acquire Digital Assets DA AG (“DAAG”). Later the Swiss company became known as FTX Europe. Now the plaintiffs are eager to be refunded the money
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It’s Time for a European Stablecoin
For a long time, this might have been a hurdle compared to other, more lax, regulatory environments. However, recent crypto crackdowns in the U.S. have shown that, while MiCA might be more strict on the issuance of stablecoins, it has the merit of being clear and providing stability. Source
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European regulator releases consultative paper on MiCA standards for crypto asset service providers
The European Securities and Markets Authority (ESMA), the European Union’s markets regulator, released a consultative paper on Markets in Crypto-Assets (MiCA) mandates on July 12. It was the first of three consultative packages the agency expects to publish and concerns technical specifications for crypto asset service providers (CASPs).Entities that are already
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European Banking Authority calls for early adoption of stablecoin standards
In advance of required regulations that are expected in a year, the banking watchdog for the European Union asked stablecoin issuers to voluntarily follow certain "guiding principles" on risk management and consumer protection.The European Banking Authority (EBA) released its first set of measures on Wednesday, July 12, for public comment
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European trade body warns against the exclusion of DeFi from MiCA
The Association for Financial Markets in Europe (AFME), an industry advocacy group that represents wholesale market participants in Europe, called for the inclusion of the decentralized finance (DeFi) sector within the recently passed Markets in Crypto-Assets (MiCA) regulations.MiCA is considered the first potential piece of comprehensive crypto legislation and is
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