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Europe: Crypto and Blockchain News Roundup, 24th to 30th August 2018

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Europe: Crypto and Blockchain News Roundup, 24th to 30th August 2018

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Europe

Welcome to our weekly roundup of all important blockchain and cryptocurrency news from around the world. Follow the latest developments in the cryptocurrency space continent by continent, country by country.

European Union

Crypto to come under focus in Vienna EU Moot: The European Union is now ready to take on certain issues in cryptocurrencies like money laundering and tax evasion in the next round of talks to be held in the Austrian capital of Vienna on 7 September.

While it was acknowledged on previous occasions that cryptocurrencies have the power to present great benefits to the public and governments alike, concerns remain. Blockchain technology was also singled out for praise for use in transparency advocacy.

The next round of talks will determine the future course of action of legislation in the Union.

Germany

Government working to create crypto-friendly system: The German government is deliberating on how to withdraw from the US financial system that has unfairly rendered countries like Turkey and Iran incapacitated in making transactions with other countries due to sanctions placed on them. A crypto-friendly economy is seen as a precursor by Germany for breaking free from the monetary stronghold of the US in the current fiat market.

German Foreign Minister Heiko Maas said:

“For that reason it’s essential that we strengthen European autonomy by establishing payment channels that are independent of the US, creating a European Monetary Fund and building up an independent Swift system.”

Countries like Russia and even Western US allies that are disgruntled due to the attitude of the US government are also considering an alternative system that will challenge the SWIFT system dominated by the US. This news is optimistic for the future development of cryptocurrencies.

CryptoKitties to help German museum explain blockchain: CryptoKitties has proven to be a good initiative to promote awareness in blockchain and cryptocurrency sectors in the country and is now working in Germany for their next exhibit in a museum. Here visitors will experience the game to learn about different types of crypto technologies.

According do Dapper Labs, the owner of CryptoKitties, the exhibit in the museum will show the working of blockchain technology in real time.

Italy

Shares in Italian football club bought with crypto: Italian football club Rimini in the Serie C division has sold a portion of the ownership of the club for cryptocurrency.

This first-of-its-kind acquisition in the country was made by Heritage Sports Holdings (HSH), a sports investment company based in the United Arab Emirates and the cryptocurrency used was Quantocoin, a Gibraltar-based cryptocurrency.

Russia

Government to use Ethereum blockchain for market allocation of farmers: The Russian government has announced that the country is looking to develop a system that uses the Ethereum blockchain to simplify the process of allocating commercial plots for farmers.

The system is designed to allocate over 1,500 trading spots with over 20,000 farmers scrambling for them. Farmers from Armenia, Belarus, Kazakhstan and Kyrgyzstan all are vying for a place in the weekend market in the nation’s capital.

Malta

Pro-Bitcoin Malta prime minister targeted by crypto fraudsters: Maltese Prime Minister Joseph Muscat, who has a very pro-Bitcoin stance, was the subject of a recent Instagram scam.

His name was used to open a fake Instagram account in an attempt to promote a Bitcoin investment scheme. The fraudulent account quickly gained 1,300 followers and promoted a Ponzi scheme that preyed on unwary investors. But, when pointed out, the account was swiftly deleted by the scammers.

The Mediterranean island is working to bring cryptocurrency and blockchain projects from around the world to its shores. The island is becoming more and more suitable for cryptocurrency investment in the continent and the world. It has been continuously ranked as one of the best in crypto-friendly attitudes.

 

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