Activities of Cătălin Sorin IVAN related to 2016/2007(INI)
Plenary speeches (1)
Virtual currencies (A8-0168/2016 - Jakob von Weizsäcker)
Amendments (3)
Amendment 6 #
Motion for a resolution
Recital A
Recital A
A. whereas virtual currencies (VCs) are privately governed digital representations of value denominated in their own unit of account and referred to as private digital cash, most notably based on distributed ledger technology (DLT), the technological basis for more than 600 VC schemes18 , the most prominent of which to date is bitcoin, which was first used in 2009, with a market share of almost 90 % and a market value of the outstanding bitcoins of around EUR 5 billion19 ; __________________ 18 19but has not yet reached a critical mass and do not have the nature of a highly liquid asset; __________________ 18 http://www.bis.org/cpmi/publ/d137.pdf http://www.bis.org/cpmi/publ/d137.pdf 19 http://coinmarketcap.com/ http://coinmarketcap.com/
Amendment 21 #
Motion for a resolution
Paragraph 1 – introductory part
Paragraph 1 – introductory part
1. Stresses that VCs and DLT have the potential to contribute positively to consumer welfare and economic development, as well as bringing changes to the banking sector by means of:
Amendment 39 #
Motion for a resolution
Paragraph 2 – point a
Paragraph 2 – point a
(a) the potential for money laundering, financing of criminal activities, terrorist financing24 and tax fraud based on the ‘pseudonymity’ and ‘mixing services’ that some such services offer, bearing in mind that the traceability of cash transactions tends to be much lower still; __________________ 24 While there is potential for use of VC for terrorist financing, Europol has recently (18 January 2016) pointed out that ‘despite third party reporting suggesting the use of anonymous currencies like Bitcoin by terrorists to finance their activities, this has not been confirmed by law enforcement’.