This article co-authored with guest blogger Peter Wainman, a partner with Mills & Reeve LLP

Transfers of personal data from most European countries to the U.S. have been exposed to legal attack since October 2015, when privacy campaigner Max Schrems successfully sued the Irish authorities over data transfers made by Facebook Ireland.  The main objection

Bitstamp, the third largest Bitcoin exchange in the world and located in Luxembourg, announced on April 25, 2016, that it has obtained a payment institution license from Luxembourg, which means it is the first nationally licensed Bitcoin exchange in the world.

The license was obtained through the European Union’s passport program, which gives reciprocity for