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EU set to introduce new legislation for safe #Cryptocurrency exchange

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According to a report by the Cyprus Mail, a new cryptocurrency legislation for safe cryptocurrency exchange could be introduced in the EU countries. By this new legislation, under the new guidelines, Bitcoin and other digital currencies will be named monetary instruments all through Europe. This means legal cryptocurrency exchange will be more transparent than ever. Moreover, it is said that this new legislation will encourage the innovation associated to crypto and blockchains sector, writes Graham Paul.

The European Union has been working to make an exchange regulatory and legal framework on cryptocurrencies for almost a year. In this regard, the European Commission opened a consultation in December 2019 during which it publicly asked about comments on crypto regulation. The consultation was attended by top private companies such as Google and PayPal. In is the consultation the EU commission discussed on how to make the regulation more feasible, the obstacles that they may face while implementing those regulation and how to tackle those obstacles in an organized and efficient way.

At the end of the long consultation, European Commission Executive President Valdis Dombrovskis said that it was the lack of legal certainty which was the main blockade in the development of a strong crypto asset market in EU. He also added that, with European companies as the leading front in the innovation for digital finance, there is a good chance for Europe to become a global standard setter and toughen its international standing with this new legislation.

Cryptocurrencies are to be categorized as financial objects

Bruno Schneider-Le Saout, the president of the Brussels-based Blockchain Federation said, the new enactment will uphold European computerized finance for a long time to come. He believes that this new legislation will bring legal certainty which is crucial for both crypto assets as well as for implementation of DLT (distributed ledger technology) services and tokenization of financial instruments. Schneider-Le Saou also added that, it is pivotal that cryptographic forms of money will be recognized as financial instruments. This would permit this benefit class to be included for the European Union's lawful instruments managing the business sectors. This new regulation will have a great impact over the previous one.

It is seen that often people shy away from using cryptocurrencies due to its ambiguous legal credibility. While exchange of cryptocurrencies is completely legal in Europe, some people still have the idea that, cryptocurrencies are mostly used for illegal exchange. The reason behind this is people’s misconception of crypto. A clear legislation that applies solid regulation will change people perspective of crypto. Bitcoin and other cryptocurrencies are being used for legal day to day transactions now more than ever and it’s uses will multiply significantly in the near future.

A new study by Bitfury’s analytics platform Crystal has revealed that the US has the most cryptocurrency transaction record between Jan 1 2013 and June 30 2019. Followed by UK and Honk Kong. The EU countries are also in the top list. It can be expected that this new legislation will shape the number of exchanges of currencies for EU countries to the peak.

Cryptocurrency is a currency system that does not require a third party to exchange money. Cryptocurrency reaches the recipient directly from the sender. This system is called ‘peer-to-peer’ network system. The transaction is completed using cryptography which is a very secure process. Since no third-party entity controls the transaction process, it is not possible to determine the transaction dynamics of cryptocurrency. This means that no one can know who is sending money to whom. Cryptocurrency transactions can be done with complete anonymity.

Bitcoin is currently the most popular and valuable cryptocurrency in the world. Ethereum, Dash, Litecoin, XRP, Tether, EOS are cryptocurrencies with a great potential. It can be expected that people in EU will engage in buying bitcoin and other cryptocurrencies more once this new legislation is passed.

With the use of cryptocurrency being more prominent day by day it would be useful to know some of its advantages.

Advantages of using cryptocurrency

  • Cryptocurrency is a completely decentralized currency system. Neither the govt nor any authority controls it. As a result of the peer-to-peer system, every user here is the real owner of their cryptocurrency. Nobody else can take ownership of their bitcoin network. Eliminates the chances of fraud or deceit.

  • The whole process of cryptocurrency transactions is anonymous. A crypto user can open multiple crypto accounts. No personal information, like username, address, etc. is required to open these accounts. As a result, the important identity of the user remains secret. This means no identity theft.

  • Creating a cryptocurrency account is very easy. During this case, there's no got to fill any troublesome form like opening a traditional checking account. No extra fees are required. No paperwork is required. The crypto transaction process is extremely fast. regardless of where the bitcoin is shipped from, it'll reach the recipient during a matter of minutes. This makes immediate settlement.

  • The cryptocurrency transaction process is completed very transparently. Records of every transaction are stored during a blockchain that anyone can view from any a part of the planet.

  • Since cryptocurrency removes the middle man in the transaction, no need of transaction fees.

Safe cryptocurrency exchange

One of the main concerns that people have about exchange of cryptocurrencies is safety. Safe cryptocurrency exchange can only be ensured from a licensed cryptocurrency exchange company or site or organization. Safety being one of the top objectives of this new cryptocurrency legislation, people can except a safer and easier use of cryptocurrencies. It will set a global standard and will possibly have a big positive impact in the days to come. No doubt legislations and security measures will make safe cryptocurrency exchange easier and more credible.

With the use of cryptocurrency increasing day by day more, people will more and more engage in buying bitcoin and other cryptocurrency. But before buying and investing in cryptocurrency it is crucial to understand its values and trends. There are a few precautions that needs to taken before buying or investing in cryptocurrencies. There are many paths can can lead you to unsure line which could you in trouble. There are a lot of ways safe ways to buy cryptocurrencies but there are also many which are unsafe.These unsecured sources can lead to malware scams, fake bitcoins, ponzi scheme, ICO scam.So it is best to do know about the seller’s credibility. It is highly essential to buy bitcoin from a licensed cryptocurrency exchange site or company. It is necessary that the owner, site, or company has a legal credibility.

No one can predict the future. Some of the famous economists think that in the future cryptocurrency will run the world, paper notes will not exist. There is no doubt that the graph of importance of blockchain and bitcoin in the world is upward.Considering it’s great potential, buying and investing in crypto might be a step in right decision for a profitable future.

EU

#Nagorno-Karabakh - Presidents of the US, France and Russia call for an immediate cessation of violence

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In a joint statement on the situation in Nagorno-Karabakh the Presidents of the United States, France and Russia condemned in the strongest terms the escalation of violence along the line of contact in the conflict zone. The leaders have called for an immediate cessation of violence. 

The Organization for Security and Co-operation in Europe (OSCE) Minsk Group was established in 1992 to encourage a peaceful, negotiated resolution to the conflict between Azerbaijan and Armenia over Nagorno-Karabakh.

The statement comes as a special European Council meets in Brussels to discuss taking a more strategic approach to relations with Turkey. Turkey has been accused of intervening in the conflict by the French President Emmanuel Macron.

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NATO brokers' de-confliction mechanism between Greece and Turkey

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Following a deterioration of relations in the Eastern Mediterranean, particularly between Greece and Cyprus, NATO has just announced the creation of a bilateral military de-confliction mechanism.

NATO Secretary General Jens Stoltenberg has led a series of technical meetings between the military representatives of Greece and Turkey at NATO Headquarters in Brussels. The mechanism is designed to reduce the risk of incidents and accidents in the Eastern Mediterranean. It includes the creation of a hotline between Greece and Turkey, to facilitate de-confliction at sea or in the air.

Stoltenberg said, “I welcome the establishment of a military de-confliction mechanism, achieved through the constructive engagement of Greece and Turkey, both valued NATO Allies. This safety mechanism can help to create the space for diplomatic efforts to address the underlying dispute and we stand ready to develop it further. I will remain in close contact with both Allies.”

Military de-confliction between Allies is a role NATO has played before. In the 1990’s, NATO helped establish a similar mechanism in the region, which was effective in helping to reduce tensions and provide the space for broader diplomatic talks. 

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Armenia

Terror threat in South Caucasus can spread to Europe

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During the whole period of conflict between Azerbaijan and Armenia the escalation has never reached to such critical point. Even in April 2016 when the Armenian side started massive operations against Azerbaijan, the two sides have never openly talked about a war so confidently. The army mobilization of both sides is an alarming fact that should be taken seriously by the international community.

International organization such as OSCE are failing to solve the problem by peaceful means which causes a decline in public trust in them. The Azerbaijani side openly claims that OCSE’s efforts are useless and highly non-effective -  writes Galib Mammadov, an independent expert and MA in International Relations from Washington University in St. Louis.

Even Azerbaijani government officials refer to photos of OCSE Minsk Group co-chairs having a party in Nagorno Karabakh instead of conducting conflict resolution and peacekeeping activities.1 This serves to public anger in Azerbaijani side and makes a war inevitable. On the other hand, any probability of war creates security issues for Armenia and as a last resort their government is aiming to use their relations with regional terror organizations such as ASALA (Armenian Secret Army for the Liberation of Armenia) and PKK as a guarantee for their security. When going back to 70s, 80s and 90s, it becomes evident that Armenia has a tendency of collaborating with terror organizations and using them as a hard power for achieving their goals. Involvement of such organizations in the region is a huge threat for the whole World. Thus if they get reinforced in the region, they may get aligned with other terroristic agencies in the Middle East which would boost a global terror.

Brief Background of Nagorno Karabakh Conflict

Relations between two countries worsened after ethnic Armenia forces occupied Azerbaijani territories between the years of 1988 and 1994. Since the 1994 ceasefire, the Karabakh conflict has remained frozen despite international mediation. Armenia occupied 20 percent of Azerbaijani territories as a result of the Nagorno Karabakh conflict, displacing approximately 800,000 Azerbaijanis from their territories. Additionally, the United Nations recognizes the territorial integrity of Azerbaijan Republic and has four resolutions that call on withdrawal of Armenian forces from occupied districts of Azerbaijan.2

Background of ASALA’s Terror

Terrorist organizations like the ASALA and the armed wing of the Armenian Revolutionary Federation (ARF) were one of the most dangerous terrorist movements in Europe during the early 1970s. ASALA launched in Lebanon Beirut in 1975 for the purpose of Approximately 90 individuals were killed and hundreds were wounded through a terrorist attack by these organizations. Such attacks covered North America, Europe, the Middle East and the south Pacific regions targeting ethnic Turks (mostly diplomats).3 But they also took lives of American, French, Italian and Yugoslav people. Taking into account the fact that, 1981 Armenian terrorists accounted for the highest number of documented international terrorist attacks, the U.S. government defined Armenian terrorists as the most dangerous group in the World at that time. 4

Major terror operations of ASALA were explosion at the Consulates General of the Republic of Turkey in the cities of Frankfurt, Cologne and Essen, Germany, explosion at Yeşilköy Airport in Istanbul, killing 5 and injuring 42, hostage crisis at Esenboga Airport in Ankara, killing 10 and injuring 82, explosion at an international trade fair in Marseilles, France, killing one and injuring 26, Explosion at the Turkish Airlines office at Orly airport in Paris, killing 8, and injuring 55. 5

Armenian political violence peaked between the fall of 1979 and the summer of 1983. By the end of July 1983, assassinations, armed assaults and bomb attacks took the lives of many Turkish Foreign Ministry officials, dependents and employees, as well as French, American, Italian, Yugoslav, Swiss and German nationals. The period was marked by the particularly brutal automatic weapon assaults at the Esenboğa Airport, the Istanbul Covered Bazaar, and Turkish Embassy and Ambassadorial Residence in Lisbon in the summers of 1982 and 1983, and the premature detonation of a bomb designed to explode in mid-air at the Orly Airport in Paris in July 1983. Eight people were killed, including four French citizens, two Turks, an American, and a Swedish, and close to sixty others were wounded.6 Former CIA director of counterterrorism commented the situation as following: “They [Armenians]’re brutal… They don’t take hostages to negotiate. It’s just out-and-out murder.” 7 Armenian terror was a nightmare for both Europeans and Americans and ASALA was a unique case that shall not be forgotten as a lesson by International community.

Armenia – ASALA relations

Armenia’s prior president Ter-Petrosyan attended ASALA member’s Monte Melkonian's funeral in 1993. It clearly means ASALA regarded as a legitimate entity in Armenia. Armenia showed their support to terrorist organization which took lives of many people all around the World. In addition, Members of ASALA are officially regarded as national heroes. Thus, after death Monte Melkonian was awarded with the highest military honors of Nagorno Karabagh and the Republic of Armenia, including the Military Cross, First Degree and the Golden Eagle medal.8 Armenia openly promotes terror activities and gives legitimacy to such actions. That shall be an alarm not just for the region, also for the whole World. Thus, terror operations of ASALA affected not just Turks and Azerbaijani people in the region, also affected Europe and the United States of America taking lives of many people.

In addition, according to legitimate Armenian media sources Armenian government started a program on settlement of Lebanese Armenians to occupied territories of Azerbaijan. In august 2020 Armenian media declared two Lebanese-Armenian families move to Nagorno-Karabakh.9 In September 2020 the number reached to one hundred people.10 Armenian sources describe such settlement as humanitarian help to Lebanese Armenians regarding the catastrophe happened in Beirut. On the contrary Azerbaijani sources recall it as an intentional provocation aiming settle terrorist to Karabakh and revive so-called ASALA terror organization which was a nightmare for Europe. According to Azerbaijani sources director of Russia’s Political Researches Institute, philologist Sergey Markov in his interview with APA’s Moscow correspondent called Armenia’s actions as an attempt to a terror by saying “Through Pashinyan’s deeds, terror experience in Middle East may spread to the South Caucasus”. 11 Another Russian expert Andrey Petrov in his statement to APA’s Moscow correspondent alarmed Russian government about danger of terror: “By deploying terrorists to Azerbaijan’s occupied territories, Armenia creates great problem for Russia”. 12Armenia’s policies for achieving of its goals by means of terror and war would jeopardize peace not just in the region also in Europe.

Conclusion

Both Armenia’s respect to country’s terrorist leaders in government level and its settlement plan regarding Armenians of Lebanon gives a basis to build a hypothesis that Armenia is aiming to revive its historical terror organizations like ASALA. International community shall use its all means (sanctions, notes and etc.) to prevent Armenia using a terrorism as a tool for their political goals, like they did in 70s, 80s, and 90s. Deployment of terrorist groups like PKK and ASALA to Nagorno Karabakh and other occupied territories of Azerbaijan, will take lives not just Azerbaijani or Turkish people, also, European, American, Russian and even Armenian people may be victims of their operations like it happened in the near history. The message shall be clear that any goal shall not be achieved by assault, terror, assassinations and massacres. If Such organizations succeed, it will motivate many other terror organizations to act which will jeopardize global peace and security. Sanctions and relevant measures by international community shall be imposed to any government that supports act of terror.

The opinions contained in this article are personal to the author.

2 http://www.un.org/News/Press/docs/2008/ga10693.doc.htm

3 Gunter M.M. (2011) Armenian Terrorism in the Twentieth Century. In: Armenian History and the Question of Genocide. Palgrave Macmillan, New York. https://doi.org/10.1057/9780230118874_3

4 “Armenian Terrorists,” January 10, 1983, CIA, CIA-RDP88-01070R000100520004-4; “Patterns of International Terrorism: 1981,” in Department of State Bulletin Vol. 82, No. 2065 (August 1982): 16; and Gunter, “Pursuing the Just Cause of their People”

5 Christopher Gunn (2014) Secret Armies and Revolutionary Federations: The Rise and Fall of Armenian Political Violence, 1973-1993

6 ABC News, July 15, 1983; Greg MacArthur, AP, Paris, July 15, 1983; “5 Killed, 60 Hurt by Paris Bomb; Armenian Extremists Take Blame,” Los Angeles Times, July 15, 1983; Peggy Turbett, UPI, Paris, July 15, 1983; Brigid Phillips, UPI, Paris, July 15, 1983; “5 Killed in Orly Airport Bombing; Armenians Claim Responsibility,” New York Times, July 16, 1983; “A Long History of Vengeance,” NYT, July 16, 1983; “Armenian Blast Kills 5m Hurts 56 at Paris Airport,” LAT, July 16, 1983; Claire Rosemberg, “American student killed in bomb explosion,” UPI, Paris, July 16, 1983; UPI, Paris, July 16, 1983; Greg MacArthur, AP, Paris, July 16, 1983; “Armenians Claim More Victims,” NYT, July 17, 1983; “Death Toll Climbs to 6 in Orly Bombing,” NYT, July 17, 1983; “American Among Dead in Orly Blast,” Washington Post, July 17, 1983; “Turkish Press Review: July 16-18, 1983,” ANKARA 06192, July 18, 1983, DOS; “Orly Blast Claims Seventh Victim, New Threats,” Associated Press, July 21, 1983; Death Toll Rises to 7 After Terror at Orly,” NYT, July 22, 1983; “ASALA Bombing of Orly Airport Takes Heavy Toll; Paris Police, in Major Sweep, Detain Over 50 Suspects,” Armenian Reporter, July 21, 1983; and “ASALA-planned blast at France’s Orly Airport,” Armenian Weekly, July 23, 1983

7 “Terrorist Group Baffles Experts in Armenian Tactics,” Washington Post, July 26, 1983

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