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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.

coronavirus

EAPM and ESMO bring innovations to health policymakers

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For the eighth year in succession, the European Alliance for Personalised Medicine (EAPM) has held a high-level conference series alongside the annual ESMO Congress, writes EAPM Executive Director Denis Horgan.

The EAPM conference was opened with the announcement that the following article was published and contributed to by more than 40 experts across the EU on how to bring Greater Accuracy to Europe’s Healthcare Systems: The Unexploited Potential of Biomarker Testing in Oncology.  Please click here to have access.

Sessions include: Session I: Tumor Agnostic, Session II: Biomarkers and Molecular Diagnostics, and Session III: Utilising Real-World Evidence in a health-care setting.  The conference runs from 08.00 – 16.00. Here is the link to the agenda. The conference aims to bring  key recommendations to the EU level, so as to shape the EU Beating Cancer Plan, EU health Data Space, the updating EU Pharmaceutical Strategy as well as the EU Health Union. 

The conference is held following the first State of the Union address by European Commission President Ursula von der Leyen on Wednesday (16 September) – in her first annual address, von der Leyen said the coronavirus pandemic had underlined the need for closer cooperation, stressing that people were “still suffering”.

For me, it is crystal clear – we need to build a stronger European Health Union,” she said. “And we need to strengthen our crisis preparedness and management of cross-border health threats.” Von der Leyen said her commission would try to reinforce the European Medicines Agency and European Centre for Disease Prevention and Control.

And she also raised the importance of the European Beating Cancer Plan as well as European Health Data Space. “This will show Europeans that our Union is there to protect all,” she said.

Fabrice Barlesi, medical director of Gustave Roussy, said: “RCTs are no longer the way to go. A way ahead could be EU support for trialing a new drug and delivering data to a centralised registry, which could give good consolidated data from across Europe.”

Divided into three sessions, the EAPM conference at the ESMO Congress, as mentioned,  dealt with such diverse issues as tumour agnostics, biomarkers and molecular diagnostics and real-world evidence in a health-care setting. Concerning cancer, specifically tumours, the congress stated that  tissue-agnostic cancer drugs are antineoplastic medicines that treat cancers based on the mutations that they display, instead of the tissue type in which they appear.

These drugs include, for example, Entrectinib, Pembrolizumab and Larotrectinib. Former Spanish health minister and MEP Dolors Moseratt highlighted her support for the work of EAPM and looks forward to getting the recommendations of the outcomes from the conference.  “The European added value of health is obvious. It would avoid duplication and enable a better allocation of resources. And it will minimize the risk of fragmented access to therapy across member states.”

And the EAPM conference is at pains to seek the best ways forward for the implementation of Real-World Evidence (RWE) into health care in Europe – looking to find consensus with key decision makers, including at member state level, not least with representatives in the European Parliament, on how to proceed in this area. RWE for health care is a simple concept – harnessing various health data in real time to help make faster and better medical decisions.

Real-World Evidence is an umbrella term for different types of health-care data that are not collected in conventional randomised controlled trials, including patient data, data from clinicians, hospital data, data from payers and social data.

Rosa Giuliani, consultant in medical oncology at the Clatterbridge Cancer Center, said: “Key elements to advance the use of TACs is to conduct dialogue that transcends silos, and to explore re-engineering of the development pathway.” And, as far as biomarkers and molecular diagnostics are concerned, a lot has been said about testing, and often the lack of it, in terms of the COVID-19 outbreak, with different countries adopting different strategies and, also, having different resources when it comes to acquiring necessary kits.

The key focus in the ESMO session was on better and more equitable access to biomarkers and molecular diagnostics across Europe.  This is a must, but, as the attendees acknowledged, we’re a long way short of it. Access to personalised medicine and new diagnostic technologies can help resolve many inefficiencies, such as trial-and-error dosing, the potential for increased hospitalisation time due to adverse drug reactions and the problem of late diagnoses. It may also enhance the effectiveness of therapies through better tailored treatment administration.

In conclusion for the morning session, Giuseppe Curigliano, associate professor of Medical Oncology at the University of Milano, and head of the division of Early Drug Development, at the European Institute of Oncology said: “A real challenge to overcome is the different endpoints between investigators and payers. Policy frameworks and co-operation is essential.” The session in the afternoon will focus on utilizing real-world evidence in a health-care setting.

A report will be available next week. 

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Brexit

EU's Barnier still hopes trade deal with Britain possible, sources say

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The European Union’s Brexit negotiator told the bloc’s 27 national envoys to Brussels that he still hoped a trade deal with Britain was possible, stressing that the coming days would be decisive, diplomatic sources with the bloc told Reuters, write and

Michel Barnier addressed the gathering on Wednesday (16 September) and the three sources either participated in the discussion behind closed doors or were briefed on its content.

“Barnier still believes a deal is possible though the next days are key,” said one of the EU diplomatic sources.

A second diplomat, asked what Barnier said on Wednesday and whether there was still a chance for a new agreement with the UK, said: “The hope is still there.”

The first source said tentative concessions offered by the UK on fisheries - a key point of discord that has so far prevented agreement on a new EU-UK trade deal to kick in from 2021 - were “a glimmer of hope”.

Reuters reported exclusively on Tuesday (15 September) that Britain has moved to break the deadlock despite that fact that publicly London has been threatening to breach the terms of its earlier divorce deal with the bloc.

A third source, a senior EU diplomat, confirmed the UK offer but stressed it was not going far enough for the bloc to accept.

Brexit talks descended into fresh turmoil this month over Prime Minister Boris Johnson’s plans to pass new domestic laws that would undercut London’s earlier EU divorce deal, which is also aimed at protecting peace on the island of Ireland.

US Democratic presidential candidate Joe Biden warned Britain that it must honour the Northern Irish peace deal as it extracts itself from the EU or there would be no US trade deal for the United Kingdom.

The third EU source, who spoke under condition of anonymity, said that the bloc would take a more rigid line in demanding a solid dispute settlement mechanism in any new UK trade deal should Johnson press ahead with the Internal Market Bill.

“There is unease about what Britain is doing but Barnier has stressed he will keep negotiating until his last breath,” said a fourth EU diplomat, highlighting the bloc’s wariness about being assigned blame should the troubled process eventually fail.

Asked about an estimate by Societe Generale bank, which put at 80% the probability of the most damaging economic split at the end of the year without a new deal to carry forward trade and business ties between the EU and the UK, the person said:

“I would put it around the same mark.”

Barnier is due to meet his UK counterpart, David Frost, around 1400 GMT in Brussels on Thursday.

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Brexit

Biden warns UK on #Brexit - No trade deal unless you respect Northern Irish peace deal

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US Democratic presidential candidate Joe Biden warned the United Kingdom that it must honour the Northern Irish peace deal as it extracts itself from the European Union or there would be no US trade deal, write and

“We can’t allow the Good Friday Agreement that brought peace to Northern Ireland to become a casualty of Brexit,” Biden said in a tweet.

“Any trade deal between the US and UK must be contingent upon respect for the Agreement and preventing the return of a hard border. Period.”

Johnson unveiled legislation that would break parts of the Brexit divorce treaty relating to Northern Ireland, blaming the EU for putting a revolver on the table in trade talks and trying to divide up the United Kingdom.

He says the United Kingdom has to have the ability to break parts of the 2020 Brexit treaty he signed to uphold London’s commitments under the 1998 peace deal which ended three decades of sectarian violence in Northern Ireland between pro-British Protestant unionists and Irish Catholic nationalists.

The EU says any breach of the Brexit treaty could sink trade talks, propel the United Kingdom towards a messy exit when it finally leaves informal membership at the end of the year and thus complicate the border between Northern Ireland and EU-member Ireland.

The EU’s Brexit negotiator told the bloc’s 27 national envoys that he still hoped a trade deal with Britain was possible, stressing that the coming days would be decisive, three diplomatic sources told Reuters.

Michel Barnier addressed the gathering on Wednesday and the three sources either participated in the discussion behind closed doors or were briefed on its content.

“Barnier still believes a deal is possible though the next days are key,” said one of the EU diplomatic sources.

Johnson told The Sun that the EU was being “abusive” to Britain and risking four decades of partnership.

He said the UK must “ring-fence” the Brexit deal “to put in watertight bulkheads that will stop friends and partners making abusive or extreme interpretations of the provisions.”

Societe Generale analysts said on Thursday they now see an 80% chance that Britain and the EU will fail to strike a trade deal before the end of the year.

Biden, who has talked about the importance of his Irish heritage, retweeted a letter from Eliot Engel, chair of the Foreign Affairs Committee of the US House of Representatives, to Johnson calling on the British leader to honour the 1998 Good Friday peace deal.

Engel urged Johnson to “abandon any and all legally questionable and unfair efforts to flout the Northern Ireland protocol of the Withdrawal Agreement.”

He called on Johnson to “ensure that Brexit negotiations do not undermine the decades of progress to bring peace to Northern Ireland and future options for the bilateral relationship between our two countries.”

Engel said Congress would not support a free trade agreement between the United States and the United Kingdom if Britain failed to uphold its commitments with Northern Ireland.

The letter was signed by Representatives Richard Neal, William Keating and Peter King.

Johnson is pushing ahead with his plan.

His government reached a deal on Wednesday (16 September) to avert a rebellion in his own party, giving parliament a say over the use of post-Brexit powers within its proposed Internal Market Bill that breaks international law.

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