THELOGICALINDIAN - The European Commission EC afresh apparent the new Startup and Scaleup Initiative Its aim is to access Europes competitiveness for entrepreneurs and avant-garde startups by abbreviation authoritative barriers
Also read: ECB to EU: Tighter Regulations, Less Anonymity on Digital Currencies
Problems for European Startups
According to the pan-European Trade Association EBAN, Europe has more entrepreneurs per capita than the United States.
“The problem, however, is that European companies hardly abound to scale,” EBAN wrote. Unlike U.S. startups such as Apple, Amazon, and Google, European startups generally abide one to three-person companies. Their avant-garde account hardly leave bounded economies, usually bedfast to aloof a distinct country.
Commissioner for Digital Economy and Society, Günther Oettinger, explained that abounding EU businesses abide small. They “fail afterwards a few years, or adjudge to move to added countries rather than borer into the EU’s abeyant of a 500 actor bodies chump base,” he said.
“The European Commission is bent to change that and advice start-ups bear their abounding addition and job conception potential,” the EC announced. Oettinger acclaimed that new businesses annual for about all of net job conception in the EU.
Regulatory Changes to Benefit Startups
Commissioner Elżbieta Bieńkowska, amenable for Internal Market, Industry, Entrepreneurship and SMEs, said:
Three authoritative changes are already in the works. Firstly, startups will accept bigger admission to finance. Secondly, the Commission will action a additional adventitious for entrepreneurs. It has already tabled a aldermanic angle on defalcation law to acquiesce companies in banking difficulties to restructure aboriginal on to anticipate defalcation and abstain laying off staff. Lastly, taxation will be simplified.
The Commission wants to “help start-ups break and abound in Europe,” said Vice-President Jyrki Katainen who is amenable for Jobs, Growth, Investment and Competitiveness.
Impact on Bitcoin and Blockchain Businesses
This action will account bitcoin and blockchain businesses starting out or ascent up in Europe. “There are now added and added acknowledged scale-up belief in Europe,” Oettinger revealed, citation the Luxembourg-based Blockchain as an example.
Bitcoin startups, however, may face a altered claiming back operating in Europe as the Commission has committed to ending anonymity associated with agenda currencies.
The EC has afresh adopted a angle by the European Parliament to accompany agenda bill operators and wallet providers aural the ambit of the absolute EU Anti-Money Laundering (AML) Directive.
“These proposals accommodate a admeasurement which would crave the platforms to undertake due activity back barter barter basic currencies for absolute ones,” according to the European Parliament website. “This would end the anonymity associated with such exchanges.”
EC Vice-President Valdis Dombrovskis afresh revealed that:
The Commission reiterates the accent of catastrophe anonymity associated with application agenda currencies but it is not alms any abstruse agency to do so. Dombrovskis wrote that “the Commission is not putting advanced any admeasurement apropos the blockchain technology.” Instead, it “is acclamation some key players that are absolutely articular as companies accouterment the targeted services,” he revealed.
He additionally antiseptic that some businesses are not targeted by the AML Directive. “Software or appliance providers for instance are not targeted by the Commission proposal,” he noted.
Do you anticipate the new action will allure added bitcoin and blockchain startups to Europe? Let us apperceive in the comments area below.
Images address of Shutterstock, European Commission, European Parliament
Bitcoin.com is the best different online destination in the bitcoin universe. Buying bitcoin? Do it here. Want to allege your apperception to added bitcoin users? Our forum is consistently accessible and censorship-free. Like to gamble? We alike have a casino.
