Europol’s latest cybercrime report provides insights into emerging threats and key developments.
Good start at the informal meeting of economic and financial affairs ministers (ECOFIN) under the Austrian Council Presidency. European Investment Bank (EIB) issues, key interest rates and crypto assets as agenda items on day one.
Speculation on Bitcoin, the evolution of money in the digital age, and the underlying blockchain technology are attracting growing interest. In the context of the Eurosystem, this briefing paper analyses the legal nature of privately issued virtual currencies (VCs), the implications of VCs for central bank’s monetary policy and monopoly of note issue, and the risks for the financial system at large. The paper also considers some of the proposals concerning central bank issued virtual currencies. This document was provided by Policy Department A at the request of the Committee on Economic and Monetary Affairs.
The EESC believes that the European Commission’s Action Plan is a good basis but that additional measures are needed to tap the full potential of financial technology and to ensure certainty and protection for all market participants.
Blog Post By Roberto Viola.
The Spanish Guardia Civil and the Austrian Federal Police, supported by Europol, have dismantled a criminal network producing and distributing synthetic drugs worldwide, known as new psychoactive substances (NPS), on the Darknet. The criminal group was also involved in money laundering their share of the profits by selling cryptocurrencies, mainly Bitcoins. More than EUR 4 500 000 in Bitcoins, IOTA and lumen was seized by law enforcement authorities.
Today, the winners of EU Blockathon 2018 were announced. The event was the first hackathon dedicated to developing blockchain-based solutions to fight against counterfeiting.
Three in-depth analysis studies requested by EP ECON Committee regarding virtual currencies have now been published.