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startups, the new association will set out to support the development of blockchain and cryptographic related technologies and business. Switzerland is proving to be an attractive country for companies in the Bitcoin and Blockchain industry. As mentioned earlier, Joseph Muscat, prime minister of Malta, is quite a Bitcoin fan. Since then, unsurprisingly, Bitcoin has been the go-to asset for avoiding economic uncertainty and financial instability. They operate as both a Bitcoin exchange (Coinfloor Exchange) and broker referral service (Coinfloor Market). The experiment was conducted in partnership with Parisian FinTech startup Labo Blockchain and the Caisse des Dépôts et Consignations, which is a French public sector financial institution under parliaments control and seen as the investment arm of the French government. The Maltese PM elaborated: My point is that rather than resist, European regulators should innovate and create mechanisms in which to regulate cryptocurrencies, in order to harness their potential and better protect consumers, while making Europe the natural home of innovators. So much so, that according to the French bank, in 2007 62 percent of French people visited their branch several times a month. There is also the need to examine the legal characteristics of virtual currencies and digital financial assets; the need to define interoperability standards among market participants; and the need to comprehend technological innovation for existing institutions as well as for financial oversight.

EC proposes a pilot project and envisions DLT for future European Commission, an institution of the European Union responsible for proposing legislation and implementing decisions, proposed a pilot project on blockchain technology with the goal of improving its regulation. Regulators believe this makes them attractive to criminals. In a speech, presented by Banque de France governor Villeroy de Galhau at the Paris FinTech Forum, explained that more work needs to be done with the blockchain. It is still difficult to speculate whether the improvised draft of the Customs Administration Act and Frances proposal to implement heavier regulations on digital currencies will be processed. It is mainly due to the favorable regulatory environment put in place by the countrys financial regulator. The digital currency space needs to evolve at an accelerated pace, especially in the Scandinavian region. Among the six areas of top priorities is better protecting the security of our citizens, the trio declared.

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Estonia-based LHV Bank has given its nod to create an app that will utilize the Bitcoin blockchain technology to facilitate transactions. There is a shadow banking system that now exists around the world that is capable of moving unlimited amounts of money They (terrorists or criminals) know the banking system is well-monitored, said Scott Dueweke, the founder of Zebryx, a digital identity consultancy. Some financial institutions are painstakingly accepting the fact that the system at the back of such transactions is much more efficient and transparent than the classical ones, he added. The finance blog Wolf Street notes, the proposal may run into resistance from EU citizens as well, citing a backlash early last year against a bid to cap cash transactions in Germany, the blocs largest economy. Users paying with sepa transfer receive Bitcoin within 1-3 days.

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