Banco de España Deputy Gov. Margarita Delgado believes that the digital euro can coexist with private payment solutions, and it will enable the development of new pan-European payment and financial services by the private sector, making it easier to compete with non-European solutions. Additionally, the European Central Bank (ECB) has requested regulators to require payment service providers to make the digital euro available to the broad population and provide a physical payment card.
Crypto exchange Binance's Poland entity, Binance Poland, will provide services to residents of Belgium in compliance with regulatory obligations, following an order from the Belgian Financial Services and Markets Authority (FSMA) to stop offering crypto services due to violations of AML and CFT requirements.
Crypto exchange Coinbase plans to focus on non-U.S. markets, including the European Union, the United Kingdom, Canada, Brazil, Singapore, and Australia, due to their clearer crypto laws, as it seeks to expand its operations and establish partnerships with global and local banks and payment providers while ensuring compliance with governance systems. The company also aims to intensify its lobbying and visibility efforts ahead of the EU elections and engage with the G20 to create global crypto standards.
Bit Trade, the provider of Kraken crypto exchange in Australia, is facing civil proceedings from the Australian Securities and Investments Commission (ASIC) for allegedly failing to comply with design and distribution obligations for its margin trading product, resulting in losses of approximately $8.35 million for Australian customers since October 2021.
Cryptocurrency brokerage firm eToro is expanding its crypto services globally, after receiving regulatory approval in Europe through a Crypto Asset Service Provider (CASP) registration from the Cyprus Securities and Exchange Commission (CySEC), allowing it to offer regulated crypto services to all EU countries from a single entity called eToro Europe Digital Assets, effective December 2024.
Cryptocurrency exchange Coinbase has obtained an Anti-Money Laundering registration from the Bank of Spain, allowing it to offer its services to retail and institutional investors in Spain.
Kraken, the cryptocurrency exchange, plans to offer trading in U.S.-listed stocks and ETFs in 2024, expanding beyond its usual crypto offerings.
Kraken has announced plans to acquire Netherlands-based cryptocurrency exchange Coin Meester B.V. as part of its European expansion, following the implementation of the EU's regulatory framework for crypto-assets.
Major global cryptocurrency exchanges like Binance and OKX are working to comply with the United Kingdom's new financial promotion regulations to ensure fair and transparent crypto promotions, while some firms have been listed as "non-authorized" for promoting services without permission.
Coinbase has chosen Ireland as its regulatory hub in the EU, positioning itself to take advantage of the Markets in Crypto Assets (MiCA) laws which will allow crypto service providers to operate across the bloc.
Crypto exchange Binance has onboarded new fiat service providers for euro payments, deposits, and withdrawals in Europe after its former provider halted services, offering EUR deposits and withdrawals via SEPA and EUR spot trading pairs.
