THE BLOCKCHAIN AND VIRTUAL CURRENCIES WORKING GROUP

The Blockchain and Virtual Currencies Working Group (WG) is a group of industry representatives; the WG is a member of the European Commission Payment Systems Market Expert Group (PSMEG) and is registered in the European Transparency register under number: 635727423661-17.

The Members of the Blockchain and Virtual Currencies Working Group (WG) adhere to the following Ethical Guidelines.

OUR MEMBERS

OUR AIMS

Educational/working with European regulators

We foster an industry-led conversation
We help to shape the regulation in a way that does not stifle innovation
We work with regulators; information sharing is fundamental to achieve balanced and forward looking regulation

To monitor

Which regulatory initiatives concern us?

To influence the EU regulators work

Can we help in drafting the content of such initiatives?

To advice internally on EU matters

Tool for each WG member General Counsel/ Compliance officer

OUR POSITIONING

Engage with:

The European Commission
The European Central Bank
The European Banking Authority
European Parliament
European Presidency of the Union
Key Member States Permanent Representations in the Council WG on Financial Services

In terms of AML policy:

EU AML rules shall be applied to digital currency exchange platforms equally
EU AML should not be applied to non-custodian software wallet providers
The WG wishes a risk based approach

Means:

Meetings with key EU regulators
Membership of the PSMEG (Payment Systems Market Expert Group)
Position papers on digital currencies and the blockchain addressed to the regulators

Regulation if appropriate can:

Increase the credibility of industry
Increase customer confidence
Allow for a level playing field

IN THE NEWS TODAY

Sweden’s Financial Supervisory Authority publishes a report on financial instruments with crypto-assets as underlying asset

Sweden’s Financial Supervisory Authority publishes a report on financial instruments with crypto-assets as underlying asset

Michele Pellerzi2021-03-05T10:58:26+01:00February 22nd, 2021|Tags: Crypto-assets, Financial instruments, Sweden|

Finansinspektionen, Sweden's Financial Supervisory Authority (FSA), has published a Supervision Report on financial instruments with crypto-assets as underlying [...]

ECB publishes its Opinion on MiCA

ECB publishes its Opinion on MiCA

Michele Pellerzi2021-03-05T10:51:43+01:00February 19th, 2021|Tags: ECB, MiCA, Stablecoins|

The European Central Bank (ECB) has published its Opinion on the European Commission's proposal for a Regulation on [...]

ENISA publishes its paper on crypto-assets

ENISA publishes its paper on crypto-assets

Michele Pellerzi2021-03-05T10:35:10+01:00February 9th, 2021|Tags: Crypto-assets, Cybersecurity, ENISA|

The European Union Agency for Cybersecurity (ENISA) has published a paper titled "Crypto-assets". It aims to provide an [...]

Luxembourg publishes its ML/TF vertical risk assessment on virtual asset service providers

Luxembourg publishes its ML/TF vertical risk assessment on virtual asset service providers

Michele Pellerzi2021-03-05T10:44:23+01:00January 25th, 2021|Tags: AML/CFT, Crypto-assets, Luxembourg|

Luxembourg has published its money laundering/terrorist financing (ML/TF) vertical risk assessment on virtual asset service providers (VASPs). The [...]