THE BLOCKCHAIN AND VIRTUAL CURRENCIES WORKING GROUP

The Blockchain and Virtual Currencies Working Group (WG) is a group of industry representatives; the WG 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
Meeting with European Member States National Supervisory Authorities and key Government Officials
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

FINMA publishes stablecoin guidelines

FINMA publishes stablecoin guidelines

Monica Monaco2019-10-04T10:30:38+02:00September 11th, 2019|Tags: FINMA, Stablecoin, Switzerland|

Switzerland’s Financial Market Supervisory Authority (FINMA) has published a supplement to its ICO guidelines outlining how it treats [...]

Mission letter sets out priorities for Commissioner-designate Valdis Dombrovskis, Executive Vice-President-designate for An Economy that Works for People

Mission letter sets out priorities for Commissioner-designate Valdis Dombrovskis, Executive Vice-President-designate for An Economy that Works for People

Monica Monaco2019-12-02T17:33:56+01:00September 10th, 2019|Tags: European Commission|

President-elect of the European Commission, Ursula von der Leyen, has written a Mission Letter to Commissioner-designate Valdis Dombrovskis, [...]

Dutch Central Bank announces supervision of crypto firms

Dutch Central Bank announces supervision of crypto firms

Monica Monaco2019-10-04T10:46:35+02:00September 3rd, 2019|Tags: 5AMLD, The Netherlands|

De Nederlandsche Bank (DNB) has announced that it will begin regulating firms offering services for the exchange between [...]

ECB publishes Occasional Paper on stablecoins

ECB publishes Occasional Paper on stablecoins

Monica Monaco2019-10-04T10:42:54+02:00August 29th, 2019|Tags: ECB, Stablecoin|

The ECB has published an Occasional Paper entitled ‘In search for stability in crypto-assets: are stablecoins the solution?’. [...]

Switzerland’s FINMA publishes Guidance for payments on the blockchain

Switzerland’s FINMA publishes Guidance for payments on the blockchain

Monica Monaco2019-09-05T10:33:27+02:00August 26th, 2019|Tags: Blockchain, FINMA|

Switzerland’s Financial Market Supervisory Authority (FINMA) has published Guidance on the regulatory requirements for payments on the blockchain [...]