Bank AI

Bitcoin

European Union (EU) lawmakers have approved new rules aimed at reducing sanctions violations, including on cryptocurrencies.
The new legislation will bring significant changes to the way sanctions are applied across the EU.
EU sanctions can take various forms, including freezing of funds and assets (including cryptocurrencies), travel bans, arms embargoes and restrictions on certain business sectors. Although these sanctions are adopted at the EU level, their implementation is up to each member state.
After the vote, rapporteur Sophie in 't Veld said:
<blockquote>
 “The Russian invasion is taking advantage of law-breaking crooks in Europe. These people must be caught and such transactions must be stopped. We need this law because different national approaches have created weaknesses and loopholes, and this law will allow the seizure of frozen assets.
 “Parliament has taken an assertive and harmonizing approach to the law, and although we have not been able to close all the loopholes we would like, this legislation is an improvement over the current situation and demonstrates our strong support for Ukraine.”
</blockquote>
Related News: <a href="https://en.bitcoinsistemi.com/whats-fuelling-new-rallies-in-bitcoin-btc-price-deutsche-bank-analyst-explained/" target="_blank" rel="noopener noreferrer nofollow">What's Fuelling New Rallies in Bitcoin (BTC) Price? Deutsche Bank Analyst Explained</a>
The new law provides consistent definitions for violations such as failing to freeze funds, failing to comply with travel bans or arms embargoes, transferring funds to sanctioned individuals, or doing business with state-owned entities of sanctioned countries. Providing financial services or legal advice in violation of sanctions will also become a punishable offense.
The law must be formally approved by the Council before it can become law. The law will enter into force twenty days after its publication in the EU Official Journal, and member states will have one year to transpose the law into their national legislation.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/european-union-eu-approves-new-laws-that-will-also-affect-cryptocurrencies/" rel="noopener noreferrer nofollow">European Union (EU) Approves New Laws That Will Also Affect Cryptocurrencies</a>

European Union (EU) Approves New Laws That Will Also Affect Cryptocurrencies

Bitcoin Sistemi EN

在 2024年3月12日發表的其他文章

LINK Jumps to $21 – Is a New All-Time High Coming?

Biden resurrects 30% crypto mining tax in new budget proposal

“Killer Whales” – The first Crypto Reality TV Show to hit mainstream streaming platforms.

Bitcoin Breaks All-Time Highs, Elon Musk's Tesla And SpaceX In Major Profit

Bitcoin Struggles to Maintain Its Ground as Prices Dip

Millionaire Investor That Recommended Injective Before It Did 10x Now Thinks Algotech Might Be Next

訂閱免費電子報，每天收取加密貨幣最新動態！