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bitcoin regulation

Bitcoin regulation in Europe: “it’s too early”

bitcoin regulation

During a recent event held by the European Parliament, members talked about new technologies including the Blockchain and Ethereum and Bitcoin Regulation.

According to them, the European Parliament will have to regulate and monitor the new tech but “it’s too early to intervene at this stage, because we as legislators don’t yet see sufficiently clearly to know what the main issues are going to be – so in order to not to stifle innovation, we don’t want it to be now.””, said MEP Jakob von Weizsäcker.

So, the EU wants just to monitor blockchain and smart contracts in order to allow developers doing their job.

Also, MEP Eva Kaili from Greece explained that regulation is necessary to protect citizens, but EU doesn’t want to suffocate innovations.

“[In] 2008 when the crisis started in the European Union, especially in my country [Greece], people lost trust in banks and in the politicians. I woundn’t blame them because we didn’t protect them and the reaction was that some young people that we don’t really know discover this technology that actually makes unnecessary to have banks, politicians and intermediaries. So the potential is there, but it is still under progress”.

Also, she continues by saying the following:

“Blockchain is not just bitcoin and bitcoin is not just blockckhain. We need to understand how to protect citizens because if we help them trust this technology, they will actually start to using it. I do believe that banks will outsource a lot of their services,” she said.

Bitcoin regulation to regain trust by citizens

“We’ll have to educate citizens on how to use it […] Hopefully, [bitcoin regulation] will come and we’re going to try to protect the technology and not to stop it. I know that usually politicians and banks don’t want to change and they want to keep control, but I think this technology is unstoppable and we have to give control back to the citizens and maybe this way we can regain some trust,” Kaili argues.

Watch the full conference video here.


Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

Europe Bitcoin report published by the EU Parliament. Read it here.

Below you can read the full Europe Bitcoin research published by the European Parliament a few days ago.

It is related to the blockchain technology and digital currencies, exploring distributed ledger use cases including digital payments, patent protection, smart contracts and online voting.

This research provides an educational point of view for EU’s legislative members, so probably we will experience a new Bitcoin regulation in the next future.

Researchers who works at the EU Parliament have studied several aspects of the distributed ledger in the past.

For example, a working group sponsored by the Parliament studied how the blockchain’s power to secure data could provide transparency during elections.

“Although blockchains are not the solution for every problem, and even if they will not revolutionize every aspect of our lives, they could have a substantial impact in many areas, and it is necessary to be prepared for the challenges and opportunities they present.”

“Europe Bitcoin” paper

The research suggests a few possible approaches for the European lawmakers, who recently approved the creation for a new task force focused on blockchain and digital currencies.

Also, the paper suggests more future explorations by saying that regulators could regulate and yield legal legitimacy to digital currencies transactions. More and more countries are regulating bitcoin and other virtual currencies during the last few monts, as you can read by clicking here.

The document’s authors explained also that this revolutionary techbology could provide many benefits to European citizens, even if it seems to be applicable only in a few cases.

“While the most idealistic and revolutionary visions of blockchain development will probably remain no more than visions, even moderate implementation of blockchain may still promote some degree of redistribution and transparency,” explained the authors in the document.

Click here to read the full Europe Bitcoin document for free.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio
bitcoin regulation

Blockchain Regulation in Europe: everything you need to know

Today I want to explain you everything you need to know about the Blockchain Regulation in Europe.

Recently, in fact, the executive arm of the European Union government revealed that is working on the blockchain to “support” distributed ledger-based projects.

According to this new official press release published on February 7th, the Commission is looking for growing its efforts on supporting more projects related to the distributed ledger technology (DLT).

The European Commission is “actively monitoring Blockchain and DLT developments” and is working on exploring “DLT benefits and challenges as well as fields for application in financial services”.

Also, the official press release explained that the Commission wants to “pilot projects to foster decentralised innovation ecosystems and help reshape interactions between consumers, producers, creators and among citizens, businesses and administrations to the end benefit of society”.

A task force for Blockchain Regulation

Last year, the European Parliament also created a new task force led by the Commission, to study the blockchain.

This task force has not only the goal of studying the blockchain but also to support projects related to the ledger and studying a way for a blockchain regulation.

The European Commissioner for Digital Single Market and Vice President of the European Commission, explained:


“The Commission is already supporting distributed ledger tech-enabled projects (DECODE, D-Cent, MyHealth MyData). Support activities are going to increase in the coming months (e.g. Decentralised Data Management). A study will be launched to investigate how DLT can help in reshaping public services and preparing for EU specific DLT actions to address relevant EU challenges.”

Ansip also said that the Commission will collaborate with the Parliament to organize blockchain events and workshops.

“The Commission will organise a kick-off conference with the European Parliament on Demystifying Blockchain and a series of workshops to look at Blockchain developments and use case applications”.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

Change Bitcoin Euro: how to sell crypto in Europe

People who decide to invest in crypto often have to change Bitcoin Euro, but the main problem is always the same: where? which platform should I use in order to have low fees and instant conversion?

We at HolyTransaction have found a solution for these issues and we have launched HolyTransaction Trade, an instant exchange that allows you to change Bitcoin Euro in a few steps.

Through our new service you can instantly convert Bitcoin into Euro and vice versa, buying and selling your cryptocurrencies at any time.

We have a few options to do so: Bitcoin to Virtual Credit Card, Bank Transfer, and Halcash ATM ( the latest one option is available in Poland and Spain).

Or Bitcoin to EasyPay, TeleIngreso and PayNet if you live in Greece, Mexico or Spain.

Change Bitcoin Euro: step-by-step guide

By clicking on the links below you can read step-by-step guides to change your Bitcoin into Euro:

How to convert bitcoin into euro in a few steps

Bitcoin virtual credit card: how to create it

Bitcoin euro: withdraw with ATM machines

Also, if you don’t know exactly how a Bitcoin Virtual Credit Card works and which benefits it has, you can read the insightful article below to understand why you might need a virtual credit card to do shopping online.

Virtual Credit Card Bitcoin and its benefits


Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

Yacht with Bitcoin: how to rent it in Europe

A yacht with Bitcoin in Europe? Read this article and find out how to rent or buy it.

A few months ago you might remember about a € 100 000 Tesla sold with Bitcoin in Finland, where Auto Outlet Helsinki Oy managed this transactions for a private citizen.

Users can buy everything they want with digital currencies, thanks to platforms such as OpenBaazar, GiftOff and more.

But from now one people can also buy and rent luxury yacht with bitcoin, as NAMI integrated bitcoin as a payment option.

NAMI is a company that rents luxury yachts and its director, Miika Toivonen is the same person who works for the Auto-Outlet Helsinki and sold the Tesla I previously mentioned.

Now Toivonen is is willing to allow users to buy luxury yacht with bitcoin. 

“We’ve always willing to take part on everything that is new, like selling Teslas with bitcoin, so why wouldn’t we also rent yachts as well. So far we’ve sold a nice amount of Tesla electric cars around Europe, so I believe the same thing will work with luxury yachts as well.”, explained Director of NAMI Miika Toivonen in a press release.

With over 100000 merchants worldwide that accept bitcoin as a payment option, Bitcoin is the faster growing payment option and currency in the world.

And Finland, where NAMI works, is one of the top countries on Bitcoin usage if we count the number of bitcoin currency exchanges and BTMs.

“Meanwhile when numbers and numbers financial operators are getting more and more interested about bitcoin, we’ve noticed that demand for expensive luxury brands bought with bitcoin is rising. This is simply because there is more wealthy players on board. We were launching bitcoin payments for Luxury Collection and in the future we want to help more companies to benefit from Bitcoin-teknology and phenomenom.” explained us Aleksi Vitakoski from Bitcoinkaupat.

“In my opinion selling luxury cars like Tesla with bitcoin is some remarkable sales in bitcoin space, in Finnish and in European scale. It’s nice to see that adding one payment option can lead to purchases like that and it’s also very natural move by NAMI to extend bitcoin payments to yachts as well.”, commented Prasos Oy CEO Henry Brade.

<img src="/images/yachtwithbitcoin.jpg" alt="Yacht with bitcoin" height="264" width="350" />

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

Blockchain Europe: Europol studies the ledger


Europol, or the European Union major law enforcement agency, has started a new working lab to study the blockchain and digital currencies. 
This program sees also the participation of Interpol, one the most important organizations focused on law enforcement problems, and the Basel Institute on Governance, a non-profit organization focused on financial issues.
According to a press release published a few days ago, this lab will organize workshops with a global network of experts.
“Internet technologies become continuously more advanced, and so do the ways in which criminals utilize them for their illicit and illegal activities. Among these technologies, digital currencies are already transforming the criminal underworld.”
Europol and Interpol collaborate on digital currency issues since the beginning of 2016, and these two groups already organized a few conferences and training sessions for the global law enforcement representatives in the past.
Also, earlier this year, Europol started a partnership with Chainalysis with the aim of expanding its power of tracking cryptocurrency transactions.

Blockchain Europe

Europe has always been interested in blockchain and cryptocurrencies since the beginning.
Recently a European Parliament representative suggested to start studying the blockchain and investing €1m in a task force focused on the distributed ledger.

Open your free digital wallet here to store your cryptocurrencies in a safe place.


Europe Blockchain: € 1m to study the distributed ledger

The European Parliament might start to study the blockchain technology with a task force of € 1m. 
A member of the European Parliament, in fact, suggested to create a program focused on studying digital currencies and the distributed ledger. 

Europe Blockchain: a legislative objective

This news comes a few months after the legislative arm of the European Union approved a task force proposed previously this year by Jakob von Weizsäcker.
Von Weisäcker now asks for financial support to fund the program.
He explained that the task force should be organized in order to position the European Commission at the forefront of an innovative technology.
“This pilot project aims at creating a Task Force, staffed with regulatory and technical experts, in order to build up technical expertise, regulators capacity and develop use cases, especially for governmental applications, in the field of distributed ledger technology (DLT) as proposed in the Resolution of the European Parliament on virtual currencies.”
The task force project is one of the most important legislative efforts that came from Europe about the blockchain. 
“Too early hard regulatory measures would stifle innovation and hamper its potential. Waiting too long might lead to a materialization of systemic risks,” commented Von Weisäcker. 

Open your free digital wallet here to store your cryptocurrencies in a safe place.

bitcoin regulation

A task force to control digital currency in Europe

<img src="/images/kibongo.jpg" alt="Task force to control Digital currency" height="264" width="350" />
Last month we talked about how the European Parliament defined the blockchain as the “perfect technology” and aimed at realizing new rules related to the distributed ledger.
During a speech given by the Lithuanian representative Antanas Guoga, in fact, he defined the blockchain that way.
His speech was held before the Internal Market for Consumer Protection Committee, that advanced a new proposal for cryptocurrencies. 

Task force creation: yes or not?

A voting on the proposal was held on April 26th and the result was 542-to-51 members who want the creation of a cryptocurrency task force.
So, now the task force will turn into reality and will “monitor technology developments ahead of any concrete regulatory proposals”.
Von Weizsäcker said in a statement:

“To avoid stifling innovation, we favour precautionary monitoring rather than pre-emptive regulation. But IT innovations can spread very rapidly and become systemic. That’s why we call on the Commission to establish a taskforce to actively monitor how the technology evolves and to make timely proposals for specific regulation if, and when, the need arises.”
It is likely that the creation of this task force will be done in the next few months.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

Twitter, Bitstamp, European Parliament: Monthly Recap about Bitcoin

men working at the pc bitcoin

Welcome to HolyTransaction’s fifth monthly recap for the 2016! Thanks for this month together. 
April has been marked by continued interest in bitcoin technology from all around the world; during that time, the bitcoin price rose from a high of $469.31 on April 21st to a low of $435.08 on April 28th, according to Bitcoin exchange Bitstamp.

6 amazing pictures about Bitcoin

Bitcoin is the money of Internet and what is the best way to communicate through the web?
Pictures, of course.
Thanks to pictures, in fact, we can communicate things that are very difficult to explain in words. 
So, let’s see the top 6 of the best pictures about Bitcoin.

15 oddest places where Bitcoin is accepted

Nowadays you can buy almost everything with bitcoin.
As well as lots of e-commerce and famous worldwide brand that accept Bitcoin all around the world. 
Also, you will find out there are several other shops where you can buy your favorite items with Bitcoin. 
Click on the title to read the full list of the oddest places where bitcoin is accepted (for several of them you can buy a gift card for bitcoins on gyft.com).

That’s why $400 Bitcoin price is low

Today Daniel Masters, ex trader at JP Morgan, published an interesting article about the bitcoin price on Linkedin. 
In this article, Masters comments the upcoming halving of rewards for the miners and its impact on the current bitcoin price.

Blockchain is the perfect technology according to the European Parliament

During the last week, a European parliament member gave a speech about consumer protection for the latest campaign that aims at realizing new rules related to the blockchain.

How Twitter can teach you everything you need to know about Bitcoin

Twitter is one of the most popular social networks in the world and there are over 307 million people that actively use Twitter.
Also, the greatest part of Bitcoin experts has a Twitter account; and this is a fact.
So, this is why you will find lots of info about Bitcoin on Twitter; you just need to follow the right people and bloggers.

Click on the title to read the full list of influencers you may need to follow on Twitter to deeply understand bitcoin and the blockchain.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

Blockchain is the “perfect technology” according to the European Parliament

european parliament bitcoin

During the last week, a European parliament member gave a speech about consumer protection for the latest campaign that aims at realizing new rules related to the blockchain.

The perfect technology

In fact, the Lithuania representative Antanas Guoga defined the blockchain a “perfect technology” during a speech before the Internal Market for Consumer Protection Committee, which is thinking about advancing a new proposal for cryptocurrencies. 
Guoga explained:
“I’m sure a lot of us politicians haven’t got any bitcoins at the moment and we’re trying to make laws for something we don’t understand. I would suggest everyone to get some bitcoins and really learn about the system. It’s a huge leap forward and a huge opportunity.”
Guoga wants the European Commission to open a task force to monitor digital currencies. 

The committee said yes

A voting on the proposal was held on April 26th and the result was 54-to-1 members that want the creation of a cryptocurrency task force.
This proposal will be voted by the entire European Parliament in the near future. 

Watch the full video of the speech

Click here to listen to the entire Antanas Guoga’s speech.

Multicurrencies Wallet 

Bitcoin is the most popular cryptocurrency all around the world. 
To store your bitcoin you will need a secure wallet where you can also hold Ethereum, Dogecoin, Litecoin and more digital currencies.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio