Charles from Milwaukee

Signed up at Spinfinity Casino 8 minutes ago.

» Try Spinfinity Casino too
Do not show again

Crypto Lists has reported on the significant proposed changes in the crypto industry in the European market.

Several players have been affected by recent policies and regulations that expose the anonymous nature of crypto transactions. The European Union has joined several countries and jurisdictions to tame the industry. Proposals on EU crypto regulations have shook the $2.1 trillion industry.

A letter to the EU by crypto business leaders

In an attempt to mitigate against the impact felt across the industry in Europe, more than forty crypto business leaders have urged the European Union to cease the requirement by crypto platforms, exchanges, and brokers to disclose details over their transactions. The business leaders target to ease attempts to suppress these decentralised financial platforms that have been making significant growth.

A letter has been retrieved and showcases the plight of the crypto business leaders to twenty-seven European Union finance ministers. In the letter, they request the finance ministers not to go beyond the rules set in place under the global Financial Action Task Force (FATF). The task force is responsible for reducing exposure and risk to money laundering.

This comes after EU lawmakers voted to make crypto firms accountable for tracing bitcoin and other cryptocurrencies. This was firmly objected to by crypto exchange firms such as Coinbase Global Inc. They were not up for collection and holding information of users who transact cryptocurrencies on their platform. The letter is perceived to be a response to last month’s vote by the EU lawmakers. Forty-six crypto business leaders emphasised in the letter that the proposals would endanger all digital assets owners. Public disclosure of all transaction details and their wallet addresses is a violation of the owners’ privacy and safety.

Rating: 9.17/10
Supply: 34,159,599,616 / 44,999,999,488
Release date: January 15, 2015

Description: Cardano (ADA) make the world work better. See what they do in our in-depth review here at Crypto Lists.

Risk warning: Trading, buying or selling crypto currencies is extremely risky and not for everyone. Do not risk money that you could not afford to loose.

In addition to the infringement of anonymity of crypto transactions, the EU had introduced a wider framework. Markets in Crypto-assets (MiCA) regulates and confines service providers and issuers of the EU market dealing with digital assets. The EU parliament has recently approved the draft of the MiCA regulation awaiting negotiation with the EU heads of member states and the executive branch. The letter by the crypto business leaders addressed this regulation as well. The letter requests the EU to factor out decentralised projects from the regulatory requirements of registering as a legal entity. This includes decentralised finance(DeFi) which does not wish to register as a legal entity. Furthermore, it highlighted that particular centralised stablecoins should not fall under the MiCA regulation. This comes on the back of Britain stating it will initiate to impose regulations while targeting a global crypto asset hub.

Support on the letter by the crypto industry leaders

CoinShares Chief Executive Officer ( CEO), Jean-Marie Mognetti, organised the letter by the crypto business leaders to the EU finance ministers. He highlighted that Europe provides a more strenuous environment with complex crypto regulations than other parts of the world. In his view, the complex regulations are limiting businesses from adopting the fast-growing industry and effectively limiting businesses growth in the region. He warns that there should be a balance in protecting innovation in Europe. There ought to be more focus on alignment with the FAFT recommendations. Jean-Marie Mognetti was supported by the chief security officer at DeFi Technologies, Diana Biggs. She was also part of the team that organised the letter to the EU finance ministers. She stated her ambitions to escalate the influence of the European crypto industry to an extent that it affects policymaking in Brussels. She lamented the lack of strong and coordinated efforts across the European industry.

What next for the European Crypto Industry?

Anonymity is a significant selling point in the crypto world. These include crypto wallets for creators of NFTs. The decentralised nature of the crypto industry with its anonymity has left it exposed to criminal activities. Additionally, crypto exchanges lack transparency with a lack of legitimacy. It is the reason behind the campaign to regulate the industry globally. CEO of Wirex, Pavel Matveev, believes it would ensure better business practices and customer experience. He requests that the lawmakers team up with the crypto industry leaders to create the best outcome for all stakeholders.

Other members, such as Michael Kamerman, CEO of the Scandinavian crypto broker Skilling, disagree with the regulations. He agrees with the crypto business leaders that there will be a breach of privacy and safety if the proposals are implemented.

Crypto Lists Ltd issues continuous updates on the resolve of the crypto industry leaders against the EU proposals.

by Our Certified Author
Cardano Newsflash
    Solis Bet: a new Cardano casino with a juicy welcome bonus!Solis Bet: a new Cardano casino with a juicy welcome bonus!
    Thursday, 31 Aug 2023 11:46 am
    There are exciting new crypto casinos popping up all the time, but at Crypto Lists we like to think we've got a pretty discerning eye and only review the best ones. One that we published today is the awesome Solis Bet (review). One thing we really liked with Solis was that you can deposit with Cardano (ADA). So, in simple terms it's a Cardano casino, a flourishing niche and one that sits alongside others including Solana casinos. And, there are 2000 games for you to enjoy from developers like BGaming, which is really cool because new casinos often don't have any big names. If you sign up now, you can get a welcome bonus worth up to 1250 EUR. So, what are you waiting for? Try Solis Bet now and get your hands on some tip-top prizes and play some great...
    Read the full newsflash

    Live luxuriously on a plush Cardano casino with Rollers VIPLive luxuriously on a plush Cardano casino with Rollers VIP
    Wednesday, 23 Aug 2023 7:42 am
    Do you want to live like James Bond, cavorting with luscious ladies on live casinos, sipping martinis while the roulette wheel spins? Then you might just be in luck since Rollers VIP (casino review) is freshly published on Crypto Lists. It combines the look and feel of many high-end Bitcoin casinos with payment methods such as Ether, Tron, and Cardano, otherwise known as ADA. You'll find over 70 different game studios provding thousands of titles covering video slots to live Baccarat. Whatever it is you're looking for, you'll find it at Rollers. So, if you want to channel your inner 007, sign up now and see if it deserves to be "Licensed to Thrill". Yep, we've got plenty more...
    Read the full newsflash

    Come try a Cardano casino with sportsbetting at Bitubet!Come try a Cardano casino with sportsbetting at Bitubet!
    Monday, 31 Jul 2023 12:22 pm
    Have you heard of a Cardano casino? Well, if you're a crypto gambler then you've almost certainly heard of the Cardano coin aka ADA. A Cardano casino is simply any site on our crypto casino toplist that in addition to Bitcoin also allows you to deposit and/or play with ADA. And, one such site that we've reviewed fairly recently is the magnificent Bitubet (see review). Not only can you bet on sports at this site but you can also enjoy a plethora of other gaming options. And, the big secret is, there's a huge 10,000 EUR (or equivalent in crypto) welcome bonus waiting just for you. If you have some Cardano burning a hole in your crypto wallet and you want to put it to fun use then try Bitubet now and experience the awesomeness...
    Read the full newsflash

    Have a top Wednesday on Canada777 with a 100% crypto bonus!Have a top Wednesday on Canada777 with a 100% crypto bonus!
    Wednesday, 31 May 2023 12:41 pm
    Say hello to Canada777's Wednesday exclusive offer. Deposit with Interac or any crypto and receive a 100% bonus up to $50. Use the promo code 100LIVE to claim your bonus and remember to make a minimum deposit of $20. But hurry, the bonus is only available for one day. But not to worry, there's also 20% cashback to enjoy every single day! Try Canada 777 now and see the range of promotions...
    Read the full newsflash

    Top 5 Canadian crypto casinosTop 5 Canadian crypto casinos
    Monday, 24 Apr 2023 4:31 pm
    Crypto Lists site released a new top list today, covering the five best Canadian crypto casinos. Some of the highest rated crypto casino brands for a Canadian audience include Starbets (see review), 21 Bit (learn more), Canada 777, LTC Casino and Beti Bet. International casino sites are allowed for Canadians, as long as they don't have their head office in Canada. While some suggest BC Game, Cloudbet and Lucky Block, CryptoLists.com find that they don't have the best games or user experience, nor as rewarding bonuses and tournaments as...
    Read the full newsflash

New Casino Reviews
New Crypto Casinos
Best Crypto Casinos
Recent Crypto Sites
Recent Crypto Coins
  • MMX logo
  • CorgiAI logo
  • IPVERSE logo
  • Book.io logo
Keep up to date with

Our Newsletter

Sign up to our newsletter to get the
latest crypto news, new casinos,
bonus offers and other exciting
* indicates required
Copyright © 2019-2022, by Crypto Lists Ltd (CryptoLists.com). Company name: Crypto Lists Limited. Address: 5 Upper Montagu Street, LONDON W1H 2AG, England.
Jump to top