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.

Russia

Central bank says crypto no threat to global financial stability: The Russian Central Bank has said in a statement that cryptocurrencies like Bitcoin do not pose much of a threat to the current world economy.

The report cited lower cryptocurrency trading volumes of late as one of the major reasons. The report comes after other central banks are either warning against cryptocurrency or exercising restraint.

Russia is relying heavily on mining and using and other activities to become the hotbed of cryptocurrency happenings in the world. However, the government is often accused of using the new currencies to disrupt the dollar standard.

Netherlands

Low risk to financial stability regarding Bitcoin: The Dutch government’s economic watchdog CPB Netherlands Bureau for Economic Policy Analysis has said that cryptocurrencies pose a low risk to financial stability in the country.

The report was initiated to get a measure of how much impact the cryptocurrencies could have in the future because of their increasing popularity in the country. It recorded healthy numbers and found out that there were 44,000 Bitcoin transactions from one exchange platform alone.

The report concludes that cryptocurrencies pose a low risk to the overall financial system right now because of relatively lower levels of capitalization and non-association of banks. It said they are more like assets as people tend to hold on to them and not spend them. In the end, the report suggested common sense regulation for cryptocurrencies.

United Kingdom

Major banks have negative effect on crypto: Most cryptocurrency exchanges and fintech companies believe that major banks are having a negative effect on the crypto industry in the capital city of London.

London is widely seen as an economic hub in the world but the slow adoption and response of cryptocurrencies are seen as major impediments towards adoption of the new fintech revolution started by cryptocurrencies. Many crypto startups believe that locations like Tokyo, Chicago and New York are being preferred over conventionally important destinations like London.

FCA launches investigation against 24 unauthorized crypto businesses: The Financial Conduct Authority (FCA) is launching an inquiry against 24 unauthorized cryptocurrency startups in the country, according to The Financial Times.

While it is too early to call them scams, the FCA is only looking at determining whether the businesses require FCA authorization and regulation to continue operations. The UK was ranked 4th out of 48 crypto nations in friendly attitude towards cryptocurrencies and the government is increasingly cautious regarding implementing regulations.

Germany

Seized crypto auctioned by prosecutors: German prosecutors are auctioning off millions of dollars in cryptocurrencies seized in recent raids in fear of a latest Bitcoin price tank.

The sale involves a whopping BTC 1,312, BCH 1,399, BTG 1,312 and ETH 220, and is the biggest public sale of recovered cryptocurrencies recovered by any government. The money was confiscated during an investigation into an online platform LuL.to.

Half of German millenials willing to invest in crypto: According to latest reports in Cointelegraph, nearly half of all millennials in Germany are ready to invest in cryptocurrencies. Anonymity and security were seen as important factors while investing in cryptocurrencies.

It was most popular among people in the age bracket 18-34 commonly referred to as millennials, with as much as 46% saying they were considering investing in cryptocurrencies while 6% had already done so. Some 14% of the millennials aimed to invest within the next twelve months.

Czech Republic

Natural gas company to accept Bitcoin: The largest natural gas company in Czech Republic has announced that it will accept payment in cryptocurrencies according to its top executive Pavel Janececk.

The company, Pražská Plynárenská, has more than 420,000 customers across the tiny European nation and turns out record profits in tens of millions of dollars. Customers will have the option to pay their gas bills in Bitcoin starting this June.

Prague subways to have Bitcoin ATMs: Prague’s sprawling subway routes will see the installation of new Bitcoin ATMs, according to latest reports coming from Czech Republic.

General Bytes, one of the biggest Bitcoin ATM operators in the world, will install these ATMs and they will accept all popular cryptocurrencies including Bitcoin and Litecoin. Customers will also be able to purchase cryptocurrencies like Litecoin, Dash and Monero.

 

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