EU Parliament Receives Petition Seeking to Establish Crypto Crime Victims’ Fund

EU Parliament Receives Petition Seeking to Establish Crypto Crime Victims’ Fund

A petition to the European Parliament hopes to encourage the bloc to offer financial backing to sufferers of cryptocurrency crime.

The petition, submitted Wednesday by attorney Jonathan Levy, looks for the execution of a “regulatory scheme to compensate victims” that were wooled of electronic possessions by fraudulence, hacks and also extortion. To day, 44 advocates have actually authorized the petition.

Levy desires the EU to apply a. 0001 cent per euro charge on cryptocurrency purchases that would certainly be merged right into a “victim superfund,” according to a news release sent out to CoinDesk.

The attorney stands for customers that have actually endured losses going beyond EUR50 million (US$ 60.7 million) and also is signed up with by course agents for the 240,000 account owners captured up in the claimed departure fraud by Irish cryptocurrency exchange Bitsane.

At today’s costs, the sufferer’s funds shed to the Irish exchange would certainly deserve as long as EUR1 billion (US$ 1.2 billion), according to Levy.

“Victims of the collapsed  Irish cryptocurrency exchange Bitsane are still awaiting justice,” he stated, declaring that Irish authorities had “accomplished little or nothing” to locate Bitsane customers’ swiped funds.