In the regulatory-ECHO, we have brought together the most important developments of the week in terms of crypto-regulation. This week in focus: the Fourth money laundering Directive, in Portugal tax-free for Bitcoin payments, China CBDC, as well as the ECB’s stance in terms of stablecoins.
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At the 2. September 2019BTC$9.829,79 2.75%TeilenFacebookTwitterLinkedInXingemailfpd: a need for clarification in terms of crypto-regulation
The FDP parliamentary group filing remains on your profile as a Blockchain and crypto party of Germany. Also in the context of the adoption of the Fourth EU money laundering Directive was proposed by the Free Democrats, a little clarification is needed. The FDP wanted to know, under the leadership of MdB Frank Schäffler of the Federal government, as relevant money laundering through Bitcoin exchanges in the country at all. Answer: nonexistent. „The Federal government has no evidence“, – stated in reply to a Small request on the part of the FDP. Nevertheless, the German implementation of the new anti-money laundering Directive – as required by the EU statutes.
Portugal: Bitcoin is subject to VAT
Bitcoin is a Monster in incentive processes. The short version of this assumption reads as follows: The asymmetrical profit structure of the crypto-currency no 1 makes the promotion more attractive than bans. And so takes it not surprising that these days a message of positive regulatory signals with the exception of the next hunts (India time). The EU’s positive signals. The German implementation of the Fourth money laundering Directive can confidently be called as a balanced and industry-friendly, as a guest author Dr. Sven Hildebrandt commented.
another attacking Portugal advertises, however, the new crypto and Blockchain industry. As we have reported earnings from the Bitcoin Mining as well as payments in the crypto currency are exempt from VAT.
The tax authorities had already made it clear that income in crypto-currencies is not subject to tax. Now it is clarified that both the activity of the Exchange of crypto-currencies into real currencies, as well as the remuneration paid in crypto-currencies are exempt from VAT.
China is missing is What attracts to Facebook over
still, it is a public Statement. Nevertheless, reports that China’s Central spend Bank PBOC this year, its own digital currency (CBDC) to be considered as secured. Accordingly, the DC/EP is called the currency will be launched in the so-called „Singles‘ Day“, the strongest sales day of the year. The Chinese CBDC actually comes on 11. November of this year, would settle the project from the competition about Facebook and Walmart. More on this here.
ECB takes Stable Coins under the magnifying glass
To the infamous volatility pushes himself known to some of the critics of crypto-currencies such as Bitcoin. Just seasoned financial institutions such as the European Central Bank’s stress (often visibly relish) the instability of Bitcoin and the likes. The obvious point of attack is found in Stable Coins but to no avail. Finally, these have a very low fluctuation in Value in mind and are by nature less volatile.
so it’s high time that the ECB finds an official Position to value stable crypto-currencies, such as the Tether. Said and done: On 29. August the ECB published „In search for stability in crypto-assets Are stable coins the solution?“.
result: „Stable Coins remain the most stable Alternative in the world of crypto-Asset markets and the demand for them is likely to hold unless there are Alternatives.“
Just for so-called Remittances stablecoins in accordance with the contents of the ECB-paper are likely to their full potential is still far from exhausted.
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The Top Bitcoin and Blockchain-News of the week ECB publishes a classification of Stable-Coins, Bitcoin Mining, and payments in Portugal are now tax-free#ECB#Portugal#Regulierugs-ECHO