Europe
9 best things to do in Kazbegi, Georgia
We share the best things to do in Kazbegi, Georgia’s spectacular northern frontier hiding in the clouds of the Caucasus After trekking the Highlander Svaneti, I headed for Kazbegi in northeastern Georgia. Surrounded on three sides by Russia and occupied South Ossetia, the nature-packed borderland is famed for its rich medley of deep green gorges, snow-capped summits and implausibly-placed medieval churches. The region’s main town is Stepantsminda (more commonly known as Kazbegi), huddled in the lee of the imposing Mt Kazbek which at 5,054m (16,581ft) is Georgia’s third-highest peak and the seventh-highest in the Caucasus Mountains. Unsurprisingly, hiking takes centre stage in this dramatic destination, with Stepantsminda the perfectly positioned gateway to the region’s mountains and valley...
Trekking the Highlander Svaneti in Georgia
Trekking the Highlander Svaneti offers an authentic taste of Georgia’s unspoilt northwest, a region as beautiful as it is remote Just 20 years ago, Svaneti was considered a danger zone. Today, with an embarrassment of snow-capped 4,000m peaks, enchanting villages dotted with tower houses and gleaming glaciers standing sentry over meadows of wildflowers, Svaneti is a paradise for hikers. Located in the remote northwest of Georgia, on the slopes of the mighty Caucasus Mountains near the border with Russia, wild and mysterious Svaneti has seen a tumultuous history including marauding Mongols and murderous blood feuds. Following independence in 1991, after the fall of the Soviet Union and the ensuing Georgian Civil War, the frontier region became a safe haven for criminals on the run. Atlas &a...
The state of crypto in Northern Europe: Hostile Scandinavia and vibrant Baltics
Despite the turbulence that broke out in the crypto market this summer, there is an important long-term marker that should be considered in any complex assessment — the combination of adoption and regulation. The latest report by EUBlockchain Observatory, named “EU Blockchain Ecosystem Developments,” tries to measure this combination within the European Union, combining the data on each and every member country from Portugal to Slovakia. As the original report counts more than 200 pages, Cointelegraph prepared a summary with the intent to capture the most vital information about the state of crypto and blockchain in Europe. Cointelegraph started from a group of countries that are usually labeled as Western European and continues with a review of Northern European states. Sweden Numbe...
Binance still serving Russians while seeking clarity on EU crypto sanctions
In the weeks following new sanctions from the European Union, Binance has kept its doors open for non-sanctioned Russian nationals, but that does not mean that the firm isn’t complying with EU sanctions, according to Binance’s newly-appointed sanctions executive. Western sanctions against Russia have been a major challenge for Binance from day one, and the firm has been working hard to comply, Binance’s global head of sanctions Chagri Poyraz told Cointelegraph in an interview. Since the start of Russia’s invasion of Ukraine, Binance has comprehensively blocked several non-government-controlled territories of Ukraine, including annexed regions like Donetsk and Luhansk, Poyraz said. “There is still an active war going on in the region,” he noted, adding that Binance continu...
Spain overtakes El Salvador to become third largest crypto ATM hub
The European country of Spain is officially home to the third-largest network of Bitcoin (BTC) and cryptocurrency ATMs after the United States and Canada. Spain currently hosts 215 crypto ATMs, pushing El Salvador — wi 212 crypto ATMs — down to the fourth position after surpassing the country by 3 crypto ATMs. Data from CoinATMRadar confirms that Spain represents 0.6% of the global crypto ATM installations. Crypto ATM distribution by continents and countries. Source: CoinATMRadar Moreover, the revelation places Spain as the highest contributor to crypto ATMs in Europe, which represents 14.65% of total installations in the continent, followed by Switzerland (144 ATMs), Poland (142 ATMs) and Romania (135 ATMs). Crypto ATM installation growth in Spain. Source: CoinATMRadar In 2022 alone...
Low hash price, soaring energy costs spell tough Q3 for Bitcoin miners
Energy problems in North America and Europe and prevailing market conditions have spelled another bleak quarter for Bitcoin (BTC) mining operators on both continents. The latest Q3 mining report from Hashrate Index has highlighted several factors that have led to a significantly lower hash price and higher cost to produce 1 BTC. Hash price is the measurement used by the industry to determine the market value per unit of hashing power. This is measured by dividing the dollar per terahash per second per day and is influenced by changes in mining difficulty and the price of BTC. As Hashrate Index reports, Bitcoin’s hash price was afforded some reprieve in the middle of Q3 as heat waves during the American summer led to a drop in hash rate, which corresponded with a slight BTC price recov...
The state of crypto in Western Europe: Swiss powerhouse and French unicorns
Despite the turbulence that broke out in the crypto market this summer, there is an important long-term marker that should be considered in any complex assessment — the combination of adoption and regulation. The latest report by EUBlockchain Observatory, named “EU Blockchain Ecosystem Developments,” tries to measure this combination within the European Union, combining the data on each and every member country from Portugal to Slovakia. As the original report counts more than 200 pages, Cointelegraph prepared a summary with the intent to capture the most vital information about the state of crypto and blockchain in Europe. We started from a group of countries that are usually labeled as “Western European.” Austria Numbers: 50 blockchain solution providers, $48.72 million (50 m...
EU regulators ban cross-border payments from Russian crypto accounts
In a statement released on Oct. 6, the European Union introduced another set of sanctions against Russia due to the prolonged and recently escalated conflict in Ukraine. The new sanctions include a complete ban on cross-border crypto payments between Russians and the EU. This statement includes the prohibition of, “all crypto-asset wallets, accounts, or custody services, irrespective of the amount of the wallet.” New sanctions were installed as a response to Russia’s annexation of Ukrainian territory as the result of what the EU calls a “sham” referendum, along with troop mobilization and threats of nuclear escalation. The previous sanctions capped crypto payments from Russian to EU wallets at 10,000 euros (approximately $9,900). However, this new total ban on cross-border crypto...
Crypto startup to save iconic fiat money sculpture with 1M euros in funding
The paths of traditional finance and the cryptocurrency industry have intersected again, with a crypto startup coming to save the iconic “Euro-Skulptur” monument in Frankfurt. Frankfurt-based crypto startup Caiz Development will provide 1 million euros, or about $961,000, in funding over the next five years to rescue the famous sculpture depicting the symbol for the Euro. Announcing the news on Tuesday, Caiz said that the firm saw a good marketing opportunity in supporting the sculpture by obtaining unique exposure. Through the funding, the firm was able to put its product board next to the 14-meter-high art installation bearing 12 yellow stars, which represent the original members of the currency union. Euro monument and Caiz’s marketing program. Source: Caiz Development The iconic euro s...
The European Union is stifling stablecoin adoption
The digital asset landscape in the European Union is evolving ahead of the passage of the Markets in Crypto-Assets (MiCA) regulation framework that aims to instill regulatory clarity around crypto assets. While well-intentioned, the current structure of MiCA may throttle innovation. But if a revised version of this policy passes, it could see the European Union become one of the leaders in the digital payment space. If not, then there is a genuine possibility of the continent falling behind. MiCA aims to set a regulatory framework for the crypto asset industry within the EU. At this point, much still needs to be codified and clarified, but the broad strokes are now known. Simultaneously, financial technology firm Circle launched a stablecoin called Euro Coin (EUROC). Euro Coin impleme...
Crypto investment product firm 21.co raises $25M to reach $2B valuation
21.co, the new parent firm of exchange-traded products (ETP) provider 21Shares, has become “Switzerland’s largest crypto unicorn,“ the firm announced on Tuesday. It raised $25 million in a funding round led by London-based hedge fund Marshall Wace. The new funding brings the firm’s valuation to $2 billion. 21.co is designed to unite 21Shares with third-party token provider Amun and other upcoming crypto projects aiming to build bridges into the crypto world, 21.co founder Hany Rashwan told Cointelegraph. All crypto ETP products launched by 21Shares will maintain the same nomenclature, Rashwan said. He also said that the new name won’t change much about the way 21Shares does business. According to Rashwan, the newly raised funds will help 21.co to continue expanding its business...
Eurozone hits record inflation of 9.1% amid gas and energy crisis
August marks the ninth consecutive month of rising inflation for the Eurozone at 9.1%. In July, the official inflation numbers landed at 8.9%. The Eurozone consists of 19 countries, including Germany, France and Belgium. This comes as the European Union (EU) faces a massive energy and gas crisis, largely as a result of the ongoing conflict in Ukraine. Current prices for daily necessities such as food, gas and electricity have soared across the continent. Over the last month, energy prices made up the largest price push, up by an annual rate of 38.3%, While food, alcohol and tobacco all rose by an annual rate of over 10%. Former EU member the United Kingdom also hit a 40-year-high inflation rate of 10.1% in July, as reported by the Organization of National Statistics (ONS). Eurozone countri...
