ChainCatcher news, according to Bitcoin Magazine, European lawmakers are calling for the establishment of a Bitcoin strategic reserve, rejecting the digital euro.

ChainCatcher news, according to Coindesk, the European Parliament approved the list of commissioners on Wednesday, which includes those responsible for overseeing digital asset regulation. Commissioners Stéphane Séjourné, Maria Luís Albuquerque, and Henna Virkkunen may bring cryptocurrencies under their jurisdiction.In September, European Parliament President Ursula Von der Leyen proposed a list of commissioners. Although cryptocurrencies are not the core topic of these positions, the committee will be responsible for ensuring the implementation of digital asset rules.Additionally, the EU's crypto assets market legislation MiCA will come into full effect at the end of December, so more work may be needed to ensure implementation.

ChainCatcher news, according to Cointelegraph, the European Parliament will elect a new European Commission this fall, which could have significant implications for cryptocurrency policy. Although the new commission will not take office until November at the earliest, several trends that may influence future regulation can already be identified.First, the political center in Europe is shifting to the right, which will affect various businesses.Second, policymakers are vying for influence over innovation policy, and future crypto policies may be more influenced by individuals rather than political parties.Third, innovation is becoming a pillar of policy in the coming years, with digital privacy and artificial intelligence identified as key focuses of EU policy.Experts suggest that before formulating new policies, the EU should ensure that existing rules are properly implemented. European leaders are seeking to enhance competitiveness, and supporting an innovation-friendly digital asset framework could help attract jobs and promote economic growth. Participants in the cryptocurrency industry should closely monitor these policy trends and prepare for potential regulatory changes.

ChainCatcher news, according to Coindesk, Malta's Member of the European Parliament and blockchain advocate Roberta Metsola has been re-elected as the President of the European Parliament.In 2018, Roberta, as a Member of the European Parliament from Malta, called for regulation of cryptocurrencies and blockchain where appropriate, without stifling innovation.

ChainCatcher news, Bitfinex's derivatives head Jag Kooner stated that investors should pay attention to the upcoming EU elections next week for regulatory clues, which could have a significant impact on the overall cryptocurrency market in June and the following months. The upcoming EU elections are crucial for shaping EU legislation, particularly the implementation of the Markets in Crypto-Assets (MiCA) framework. Any outcome that may strengthen populist parties could, in turn, affect regulatory stances, potentially leading to stricter controls or more supportive policies, depending on the composition of the new parliament.Kooner stated: "A rightward shift could lead to stricter cryptocurrency controls, while a result that supports cryptocurrencies could accelerate the introduction of supportive regulations like MiCA."

ChainCatcher news, the European Parliament has voted to pass a new set of laws tightening anti-money laundering and counter-terrorism financing measures across the EU. These laws target large cash payments, cryptocurrency companies, and football clubs, among others. In addition to creating a single rulebook for the 27 EU countries, the package approved on Thursday also establishes an anti-money laundering agency based in Frankfurt, responsible for overseeing the implementation of the relevant frameworks, particularly those that the EU deems most important.The new laws include strengthened due diligence measures and checks on customer identities, after which so-called obligated entities (such as banks, asset and cryptocurrency managers, or real estate and virtual real estate brokers) must report suspicious activities to financial intelligence units and other competent authorities.

ChainCatcher news, according to CoinDesk, the European Parliament has approved a series of new sanctions laws that also apply to cryptocurrencies. These new rules aim to ensure the uniform application of sanctions rules across the 27 member states of the EU in response to the growing concerns over violations of EU sanctions against Russia due to its invasion of Ukraine.It is reported that the new laws establish a consistent definition of sanctions violations, including failing to freeze assets, not adhering to travel bans or arms embargoes, transferring funds to sanctioned individuals, or conducting transactions with state-owned entities of sanctioned countries.

ChainCatcher news, according to Caixin, the EU is about to pass comprehensive and stringent artificial intelligence regulations. The European Parliament is scheduled to vote on this legislation on March 13, and one member stated that he expects the legislation to pass easily.According to the current timeline, the law will come into effect in 2026, with some provisions taking effect this year. The law will regulate different uses of artificial intelligence based on risk, including bans on certain use cases, such as "emotion recognition" systems in the workplace, which will face the highest fines: 7% of global revenue or 35 million euros, whichever is higher. The EU will not be the first jurisdiction to regulate artificial intelligence, but the scale of the European market means that the EU AI Act will have a global impact.

ChainCatcher message, according to a research report titled "Regulatory Challenges of Digital Finance and Crypto Assets After MiCA" commissioned by European Parliament legislators, states that all crypto assets should be considered securities by default, meaning that crypto assets will be subject to the EU's strict governance and authorization rules applicable to traditional stocks and bonds, unless and until national regulatory authorities indicate otherwise.This study analyzes the necessity for the EU to adopt further financial regulation on decentralized finance following the implementation of crypto asset market regulation, with a particular focus on crypto lending, crypto collateral, crypto custody, NFTs, and more. The report was drafted by an academic group from universities in Luxembourg, Sydney, and Hong Kong at the request of the European Parliament. (Source link)

ChainCatcher news, according to Bloomberg, the European Parliament has approved the EU Crypto Assets Market (MiCA). European Financial Services Commissioner Mairead McGuinness stated on Wednesday that she expects the legislation to come into effect in July after formal approval by the 27 EU member states. Specific requirements will be phased in, for example, rules governing stablecoins will apply starting July 2024.Once implemented, MiCA will require any company providing crypto-related services in the EU to obtain registration in one member state, allowing them to operate across the entire EU. The European Banking Authority and the European Securities and Markets Authority will be responsible for ensuring that crypto platforms comply with the rules, including having adequate risk management and governance processes. (Source link)

ChainCatcher news, Polygon has drafted and sent an open letter to representatives of the European Parliament, the Council of the European Union, and the European Commission regarding Article 30. The purpose is to clarify the scope and intent of Article 30 to ensure it reflects how smart contracts operate.It is reported that Article 30 of the EU General Data Protection Regulation (GDPR) is a law that requires organizations processing personal data to maintain records of their processing activities. Article 30 stipulates the following requirements: (A) a party provides a smart contract under the condition of consent to provide data. Since all smart contracts share some data, the proposed legislation is overly broad and may be unenforceable in decentralized systems. The open letter outlines the potential negative consequences of imposing "secure termination or interruption" requirements on such smart contracts in permissionless systems.Polygon further suggests amendments to narrow the scope of Article 30. The intent behind this is that the article should only affect "personal data" in permissioned smart contract systems owned and operated by identifiable natural persons or corporate entities that have signed customary data-sharing contract agreements, as the term is used in data law. Through this letter, Polygon hopes to ensure that global software developers, including those in the EU, can continue to innovate through smart contracts. (source link)

ChainCatcher news, the EU proposal on the digital identity framework was passed by the European Parliament with 418 votes in favor, 103 against, and 24 abstentions. The legislation includes the implementation of zero-knowledge proof technology (ZK-proof) in the European digital identity wallet, allowing users to have better control over the sharing of personal data. The document will now proceed to inter-institutional negotiations. (source link)

ChainCatcher news, the European Parliament announced that the Economic and Monetary Affairs Committee voted overwhelmingly in favor of amending the capital requirements regulation and capital requirements directive for banks. Members of the European Parliament also want banks to disclose their exposure to crypto assets and crypto asset services, as well as a specific description of their risk management policies related to crypto assets.It is reported that the committee has been invited to submit a legislative proposal regarding the specialized prudential treatment of crypto asset exposure by June 2023. (source link)

ChainCatcher news, European Parliament lawmakers have proposed taxing crypto assets to support the EU's €170 billion (approximately $185 billion) budget. The published draft includes taxes on investors' capital gains, trading, and cryptocurrency mining.According to reports, French MEP Valérie Hayer and Portuguese Social Democrat José Manuel Fernandes stated that, given the high liquidity of crypto assets and the scale of cross-border transactions, regulating and taxing crypto assets at the EU level is more efficient than at the national level. (source link)

ChainCatcher news, according to The Block, the European Parliament passed the "Europe's Digital Decade" policy plan with a vote of 529 in favor, 22 against, and 25 abstentions during the plenary session.The plan will promote digitalization efforts in the business and public service sectors and commits to supporting infrastructure based on a pan-European blockchain, aiming to achieve goals such as establishing a common data infrastructure, enhancing high-performance computing, launching 5G internet corridors, and investing in blockchain and Web3 solutions.

ChainCatcher news, according to The Block, the European Parliament has passed the cybersecurity legislation for digital finance and crypto asset service providers, the Digital Operational Resilience Act (DORA), with 556 votes in favor and 18 against. The regulations related to this law will come into effect 24 months after being published in the Official Journal of the European Union, expected in 2025.DORA aims to coordinate the risk management requirements and processes for reporting cybersecurity incidents. Financial institutions will be required to monitor and report security incidents, and technology service providers will be under the supervision of European regulators. DORA stems from the EU's 2020 Digital Finance Package. Additionally, the vote on MiCA has been postponed until February next year. (source link)

ChainCatcher news, according to The Block, after a two-year debate and drafting process, the European Parliament voted on Monday to pass the Markets in Crypto-Assets (MiCA) regulation, with a final vote result of 28 in favor and 1 against. The entire European Parliament will vote on the final approval of the legislation later in October. In addition to MiCA, Members of the European Parliament are also voting on the anti-money laundering legislation, the Funds Transfer Regulation, which requires that transfers made in cryptocurrency include data on both the payer and the payee. This measure is also expected to pass.Previously reported, in March of this year, the European Parliament's Economic and Monetary Affairs Committee (ECON-Ausschuss) announced that it would soon vote on the EU's regulation of the crypto asset market (MiCA). (The Block)

Chain Catcher news, the European Parliament voted to pass a resolution that states it will utilize blockchain technology to modernize the EU's tax procedures, while also calling for the simplification of tax rules on crypto assets and encouraging EU member states to reform their tax authorities. (The Block)