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Europe Cryptocurrency News Roundup 17-24 August 2018

written by

Europe: Crypto and Blockchain News Roundup, 3rd to 9th August 2018

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Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news, continent by continent and country by country. Up next is Europe.


Germany Aiming to Withdraw from US Financial System: Germany, Europe’s biggest economy has called for an independent payment system that will be free from US intervention, a piece of news that can be considered positive for cryptocurrencies in the future.

The move comes follows the widely criticized decision of the United States to unilaterally impose sanctions on Turkey and Iran over bilateral tussles. The German government is no all-weather friend of the US and since then it has 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.”

The Swift system is the current world standard for money transfer and it is heavily influenced by the US.


Government Announces Blockchain-based Voting System: Russia is at the forefront of blockchain innovation in the world and is showing its prowess by announcing a new blockchain-based voting system. 

A non-profit association of independent observers known as National Public Monitoring is reported stating that a pilot project is in the works,  according to Russian news outlet Tass. The project has received an endorsement from the all-Russia congress of public observers,  who have submitted recommendations in this regard to the government.

No further technical details were disclosed at this point.

United Kingdom

Cryptocurrencies to Benefit UK in Post-Brexit Scenario: While the Brexit is seen as a negative move in almost all aspects, cryptocurrencies will actually benefit from it, according to a Britain-based CEO. 

Danial Daychopan of crypto startup Plutus said that the Pound’s and Euro’s interdependence and issues mean that decentralized cryptocurrencies are set to offer a variable and more stable alternative in the future in a post-Brexit United Kingdom.

EU has also called for tougher regulation on cryptocurrencies, something UK won’t be bound to follow after Brexit occurs.


$2.3 Million Bitcoin-Euro Conversion Deal Hits Snag: A sizeable Bitcoin sale in France went sour when a seller of EUR 2 million worth of Bitcoin was given counterfeit 500 EUR notes during the transaction. The notes were poorly photocopied fake currency and didn’t look real.

A visiting South Korean businessman was approached by a Serbian who said that he aimed to invest a sizeable sum in cryptocurrencies. The deal was set for 2 million in Euro notes in exchange for bitcoin but the buyer gave counterfeit currency instead.


Union Bank to Launch Fiat-backed Cryptocurrency: A union bank in Liechtenstein has announced that it will be launching its own security tokens and fiat backed cryptocurrency.

The Liechtenstein Union Bank AG is going to issue a Union Bank Payment Coin (UBPC) and hopes to become a full blockchain investment bank in the future. Liechtenstein government has a very pro-crypto stance and it is allowing new companies and technologies to emerge from the country.


Mining Farm Could Be Closed by Government Due to Bomb Threat over Noise: In a bizarre event, a cryptocurrency mining farm based in Norway may be closed down after receiving a bomb threat due to its excessive noise generation.

According to a neighbouring resident:

“The sound of the factory comes 24 hours-a-day, 365-days-a-year. Our summer has been ruined.”

Thing went out of hand when another person threatened to blow up the Kryptovault mining facility. Cryptocurrency mining farm has taken the threat seriously and may wind up operations in the area.


Football Clubs Signing Contracts with Cryptocurrency Platforms: More and more football clubs are now being sponsored by cryptocurrency exchanges in Europe. Recently, ex-premier league champion club Leicester City has announced a deal with FansUnite, a Canadian startup.

CEO Darius Eghdami said:

“Leicester City FC is one of the premier brands in all of football, being one of just six clubs to hoist the Premier League Trophy since its inception in 1992. They are at the forefront of incorporating new technology to help improve player performance and fan engagement.”

Wolverhampton Wanderers, a new English Premier league team became the first football club to have a cryptocurrency exchange logo displayed on its shirt.

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