Friday, August 12, 2022

Crypto News from Europe: Week in review 30Sep – 05Oct

The Takeaway:

Week in review (29th September-5th October): If you've had a busy week just like the crypto world, here are the top events that took place all over Europe from Ukraine Government approving cryptocurrencies usage to FINMA showing support to Facebook's Libra.

If you’ve had a busy week just like the crypto world, here are the top news events that took place all over Europe, which you can’t afford to miss. Bitcoin (BTC) started the week $8217.90, and after a rollercoaster ride, it is currently trading at $8120.93 as the week comes to an end.


Liechtenstein gets a new trading platform

Crypto trading platform Bittrex has announced the launch of Bittrex Global, a new trading platform with its headquarters in Liechtenstein. Bittrex Global will aim at providing services and products like customer reward programs, private token sales under EU laws, and a mobile app for trading cryptocurrencies. It will start operating by the end of October.


Ukraine Government brings cryptocurrencies close to people

Ukraine’s Ministry of Digital Transformation has decided on legalizing Bitcoin and other cryptocurrencies in the country. This move is part of the country’s modernization effects. The public registries and documents will be transferred to a state-run distributed ledger system.


Facebook’s Libra questioned by the European Commission

Margrethe Vestager, the executive vice president of the European Commission, has asked the motives behind Facebook Libra stablecoin and its launch. According to her, the competition is not a primary concern, but the effect on financial stability is a top priority. Many government bodies have expressed their concerns on this matter.


FINMA shows slight support in Libra’s development

While many governments across the globe are against the launch of Facebook’s Libra stablecoin, Swiss Financial Market Supervisory(FINMA) has shown a positive attitude towards the project. FINMA’s CEO, Mark Branson, said that they are not present to impede the development of such projects. Bruno Le Maire, Finance Minister of France, gave a big no for Libra’s development, but FINMA is all ears about the project.


Crypto worth $300,000 auctioned by UK authorities

UK’s Eastern Region Special Operations Unit recently auctioned Bitcoins and cryptocurrencies worth $300,000, which were seized from the Talk Talk hacker, Elliot Gunton. Wilsons Auctions conducted the event where the cryptocurrencies were put up for sale in small batches for people to bid on. Gunton is wanted in the United States as well for his role in an $800,000 cryptocurrency scam.


Russian Customs stop the illegal import of crypto mining equipment

The Federal Customs Service of Russian Federation confiscated crypto mining equipment from which were being smuggled into the country from Mongolia. The 4 mining devices were seized by the authorities when the smuggler failed to produce any legal documents for the equipment.


GBP support added back for Coinbase UK clients

U.S. based crypto exchange Coinbase has added GBP transfers back in the system for its United Kingdom customers. This support is added again with a new deal with London-based Clearbank. Earlier, they were using Barclays support for the GBP transactions.

Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Paul Rea
Paul Rea
Paul is a graduate from the Queensland University of Technology and has a demonstrated history of working in the computer and network security industry. Apart from being a dedicated author, Paul also has an interest in graphic designing.

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