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Jonathan Levy
Fax +1 202 478 1970

20 October 2020
Committee on Petitions
Reu Wiertz 60
B-1047 Brussels

Re: Petition 0421/2020 “Petition to Create Crypto Asset Fund for Victims of Crypto Crime”


Dear Sir/Madame:

The Petitioner and his clients as well as all victim crypto criminals everywhere are dismayed by the anti-
consumer sentiments expressed by the EU Commission to the Committee on Petitions opposing the
creation of a Crypto Crime Victim Superfund.

Crypto crime continues to be a major issue throughout the European Union exacerbated by a lack of
uniform regulation among member states. Crypto assets are uninsurable and highly mobile. Therefore,
any regulation scheme is only as viable as the least resolute member of the EU. If lack of past enforcement
is any indication of the future, consumers will continue to be victimized at an ever growing rate under the
illusion that crypto assets are now safe because they are regulated by the EU Commission’s emerging
crypto asset regime.

The EU Commission pleads a lack of competence to assist victims of crypto crime even while promulgating
a union wide regulatory scheme for crypto assets. The Commission administers billions of Euros in grants
and credits every year and has one of the most expansive and well trained bureaucracies in the world but
cannot administer a simple victim fund which is self-replenishing through a virtually unnoticeable .0001
cent per Euro transaction fee.

The EU Commission’s protests ring hollow. The EU Commission has invested over €100 million in
blockchain innovation awards and investments. Therefore, it must have some competency in overseeing
crypto assets unless it simply distributes the Union’s funds with no hope of oversight.

The EU claims, without any authority, that most crypto crime occurs outside the EU. This is speculation
at best. At least €4-5 billion in crypto asset fraud occurs annually in the EU according to the EUP’s own
findings. The world’s largest asset, Bitcoin, has it roots in the EU where the majority of its nodes are based.
In China, Russia, and the United States regulatory schemes are not conducive to crypto asset criminality
in the same way as the fragmented EU enforcement regime; therefore criminals know that certain EU
members are safe havens for the present and they need not fear prosecution for their criminal acts.
The EU Commission itself remains a host to crypto criminality in a major way with the European
Commission delegated ccTLD .EU being a continuing host to the One Coin/One Life pyramid scam which
has defrauded victims (including my clients) of well over €4 billion.

As I write this letter, despite my repeated warnings to the European Commission about One Coin/One
Life, this prototypical crypto crime firm continues to operate unimpeded from such EURID managed
domains as:


Therefore, I hope you will look through the anti-consumerism expressed by the EU Commission which
seems too close to the crypto asset industry it claims to regulate.

Warmest regards,

Dr. Jonathan Levy

Legal Representative for Crypto Crime Victim Petitioners