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
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

EBA publication of its Report from its final round of reviews of competent authorities’ approaches to countering money laundering and terrorist financing (ML/TF) risks in the banking sector, 13 December 2024

EBA publication of its Report from its final round of reviews of competent authorities’ approaches to countering money laundering and terrorist financing (ML/TF) risks in the banking sector, 13 December 2024

bcwg-admin2024-12-20T17:23:47+01:00December 13th, 2024|Tags: Banking sector, EBA, Money Laundering, Report, Supervision, Terrorist Financing|

On 13 December 2024, the European Banking Authority (EBA) published the Report from its fourth and final round [...]

EBA publication of its Report assessing tokenised deposits and promoting convergence in their classification in contrast with e-money tokens (EMTs) issued by credit institutions under MiCAR, 12 December 2024

EBA publication of its Report assessing tokenised deposits and promoting convergence in their classification in contrast with e-money tokens (EMTs) issued by credit institutions under MiCAR, 12 December 2024

bcwg-admin2024-12-19T13:05:23+01:00December 12th, 2024|Tags: Benefits, Challenges, EBA, MiCAR, Regulatory classification, Report, Tokenised deposits|

On 12 December 2024, the European Banking Authority (EBA) published its Report to raise awareness of tokenised deposits, [...]

ESMA publication of its list of links for complaints-handling under MiCAR, 10 December 2024

ESMA publication of its list of links for complaints-handling under MiCAR, 10 December 2024

bcwg-admin2025-01-16T17:30:05+01:00December 10th, 2024|Tags: Complaints Handling, ESMA, MiCAR|

On the 10th of December 2024, the European Securities and Markets Authority published a list for complaints-handling in [...]

ESMA publication of its list of grandfathering periods decided by Member States under MiCAR, 10 December 2024

ESMA publication of its list of grandfathering periods decided by Member States under MiCAR, 10 December 2024

bcwg-admin2025-01-15T17:17:43+01:00December 10th, 2024|Tags: CASPs, ESMA, Grandfathering periods, MiCAR|

On the 10th of December 2024, the European Securities and Markets Authority published the list of grandfathering periods [...]

ESAs Publication of Joint Guidelines to facilitate consistency in the regulatory classification of crypto-assets under MiCAR, 10 December 2024

ESAs Publication of Joint Guidelines to facilitate consistency in the regulatory classification of crypto-assets under MiCAR, 10 December 2024

bcwg-admin2024-12-17T12:45:05+01:00December 10th, 2024|Tags: Crypto-assets, EBA, EIOPA, ESAs, ESMA, Joint Guidelines, MiCAR, Regulatory classification|

On 10 December 2024, the three European Supervisory Authorities (the European Banking Authority, the European Insurance and Occupational Pensions [...]