EU ministers will urge European Commission to bolster controls of virtual currencies like bitcoin and anonymous online payments, after last week’s terrorist attacks in Paris.
The digital euro is expected to consider orderly adjustments in the financial sector while also offering payment service providers a platform for innovations.
The European Commission ensures it enforces the sanctions across Europe. The EU remains to support Ukraine and its people alongside several international partners.
The banks exchanged sensitive information and trading plans in a chatroom called “Sterling Lads.” As a result, traders were able to decide on whether and when to trade the currencies they had in their portfolios based on the information they received, without taking risks.
No matter how urgent and effective the proposals are, it would still take a couple of years for them to become legally binding. EU States and the European Parliament will give the final decision on the proposals.
According to the European Commission, the assessment of the Code signed in 2018 has shown several shortcomings. Therefore, social media giants should take more effective measures to tackle the issue.
According to Paolo Gentiloni, European Commissioner for economics and taxation, Amazon, Apple, and Alphabet are “the real winners” of the COVID-19 crisis, and it was no longer possible “to accept the idea that those giants are not paying a fair amount of taxes in Europe”.
European leaders have agreed to borrow $858 billion from financial markets and distribute around half of it as grants and the rest as loans to EU countries.
The 750 billion euros EU recovery fund is said to include 500 billion euros in grants and 250 billion euros in loans.
European finance ministers have agreed to implement a €540bn economic package for countries hit hard by the coronavirus pandemic. The measures will help governments cover healthcare costs but also will support businesses.
The Council of the European Union and the European Commission indicated the official EU position on global stablecoins.