EU’s plan to dominate global markets with digital euro
The European Union’s (EU) strategic plan to revolutionize the world economy through the introduction of a digital euro is gathering steam. This move, fueled by the European Commission’s recent legislative proposal, is slated to reshape the global financial landscape, with the digital euro set to become the bloc’s universal payment medium. Digital euro: An economic […]
EU and Google on the verge of groundbreaking AI regulations
The tech titan, Google, is engaging in fruitful talks with the European Union authorities, focusing on trailblazing artificial intelligence laws and the safe and responsible deployment of AI technology. Google is keen on developing tools to quell the EU’s concerns about AI, one of which includes the difficulty in discerning human-generated content from that crafted […]
Legal battle erupts over EU’s groundbreaking digital rules
The vanguard legislation of the European Union (EU) crafted to impose stringent regulations on major technology companies, compelling them to intensify content monitoring on their platforms, is now caught in the crosshairs of its maiden legal tussle. The dispute arose from a claim made by Europe’s premier online fashion powerhouse that it is being disproportionately […]
EU and Meta set to face ultimate online content test
As we witness the digital world evolving at breakneck speed, pivotal players like Meta and institutions such as the European Union (EU) are preparing for what could be the ultimate litmus test of online content regulations. In July, the EU and Meta will come together for a comprehensive stress test, aiming to measure the robustness […]
Researchers expose flaws in EU’s AI guidelines
A recent investigation conducted by Stanford University researchers reveals that major tech companies, including OpenAI, the creators of ChatGPT, Meta (previously Facebook), and Google, might face conflicts with the EU’s draft regulations concerning the deployment and usage of artificial intelligence (AI). EU’s AI regulation drama The Stanford research study, led by AI researcher Rishi Bommasani, […]
EU’s crypto regulation implementation in jeopardy
At the helm of European cryptocurrency regulation stands the Markets in Crypto Assets (MiCA), a framework recently given the green light by the European Union (EU). However, its successful implementation across the continent may be fraught with obstacles, warns Christian Anders, CEO of cryptocurrency enterprise Btc.x. A hurdle race towards acceptance According to Anders, the […]
EU governments embrace strict crypto bank rules
In a significant move, EU governments appear to be rallying behind a new banking standard. This development could potentially classify cryptocurrencies that lack traditional financial backing as high-risk assets, a development that promises to revolutionize the way financial institutions handle digital currencies. The Riskiest Assets in the Banking Sector Under the proposed legislation, cryptocurrencies such […]
Social media giants face EU complaint over crypto ads
Under scrutiny, some of the world’s biggest social media platforms are on the brink of a showdown with the European Commission, spurred by a grievance lodged by the European consumer group, BEUC. Instagram, Twitter, TikTok, and YouTube, four giants in the industry, find themselves implicated in a dispute centered on accusations of deceptive advertising associated […]
U.S. and EU have meeting about China, AI, and trades
In the heart of Sweden, the freezing Arctic air buzzed with the warmth of diplomatic dialogue as high-ranking officials from the United States and the European Union congregated to discuss a broad range of issues. From trade complaints lingering from the Trump administration to the advent of artificial intelligence (AI) and the looming economic giant […]
EU and Google join forces for voluntary AI pact
In a remarkable leap towards defining the ever-changing landscape of Artificial Intelligence (AI), Google and the European Commission have announced plans to lay out a cooperative agreement for the emerging technology. This decision comes in light of the growing urgency for global oversight on AI’s societal and business implications. EU industry chief, Thierry Breton, took […]
Meta’s antitrust challenge rejected by EU court
Meta Platforms, the parent company of Facebook, suffered a blow on Wednesday when the General Court of Europe validated the European Commission’s requests for information pertaining to its investigation into Facebook’s data handling and online marketplace activities. This decision dealt a significant setback to the tech behemoth, which had been vocally critical of the Commission’s […]
EU and US join forces for AI standards interim solution
In an unprecedented move towards global collaboration in the realm of artificial intelligence (AI), the European Union (EU) and the United States are jointly addressing the pressing need for an interim solution to AI standards. The call for an expeditious response comes as new legislation governing the use of AI is on the horizon but […]
EU Council gives final approval to MiCA legislation
The European Union has significantly moved towards regulating cryptocurrencies, signaling a new era for digital assets across its 27 member states. The landmark Markets in Crypto Assets (MiCA) legislation, which seeks to harmonize cryptocurrency laws across the EU, has been given the final stamp of approval by the Council of the European Union. It is […]
EU and U.S. join forces in historic pledge against China
In a historic move, the European Union (EU) and the United States (U.S.) have announced a joint pledge to counter non-market practices and economic coercion, primarily focused on China. This groundbreaking decision comes ahead of the fourth edition of the EU-U.S. Trade and Technology Council (TTC), set to take place in Lulea, Sweden, on May […]
EU’s revised AI Act: Say goodbye to public facial recognition
The European Union (EU) has taken a significant step forward in regulating artificial intelligence (AI) with the revised AI Act. The act, which is expected to be the world’s first comprehensive legislation governing AI technology, introduces stricter rules surrounding the use of facial recognition and other AI applications. EU’s tougher regulations for AI tools Under […]
EU struggles to restore debt credibility amid worsening crisis
The European Union is grappling with escalating debt credibility concerns as borrowing costs soar and yield spreads widen. To regain investor confidence and narrow the gap between its jointly issued bonds and those of France, the EU must make good on revenue-raising promises and shift investor mindsets. EU borrowing costs have skyrocketed from 0.14% in […]
Estonia crypto firms face 80% decline amid stricter regulatory landscape
The number of registered crypto firms in Estonia has experienced an approximate 80% decrease due to enforcing the 2022 crypto law. This legislation requires companies to maintain significant capital reserves and establish genuine connections to Estonia. Data released by the country’s money-laundering regulator, the Financial Intelligence Unit (FIU), revealed that around 200 licenses were voluntarily […]
EU is angry at China over remarks on Ukraine – Details
The European Union (EU) has expressed anger over controversial remarks made by China’s ambassador to Paris, Lu Shaye, about the sovereignty of Ukraine and other former Soviet states. Lu’s comments have prompted calls for Beijing to clarify its stance, as EU foreign ministers label the statements “unacceptable.” Diplomatic tensions over Ambassador’s remarks Lu Shaye, known […]
Ukrainian grain ban triggers EU warning to Poland and Hungary
The European Union has warned its member states Poland and Hungary that unilateral action on trade is unacceptable after both countries announced bans on grain and other food imports from Ukraine. The move is designed to protect local agricultural sectors, but has raised concerns among European officials who stress the importance of coordinated action during […]
Breaking: EU finance ministers demand an unprecedented level of privacy with digital Euro
European finance ministers are seeking to create a digital euro that is both secure and accessible as several central bankers push forward with testing the project in 2022. The European Central Bank (ECB) began exploring the idea of a digital Euro in October 2020 and officially launched an investigation into the concept in 2021. The […]
Digital Euro: The ECB seeks to remove the anonymity of the transactions with the virtual currency
Recently the European Central Bank, ECB, showed a report based on the operations of the Digital Euro project developed for 2020. According to the European bank, the digital token anonymity must be analyzed and removed from the project because of the policies it shares with the EU. Since 2020 the ECB has discussed creating a […]
European Union plans to add NFTs to its crypto regulatory laws
With the growth of the crypto market in recent months, not surprisingly, European Union is considering using the virtual industry. The EU might be announcing the flexibility of its laws in MiCA, a regulatory scheme that has been in the negotiation stage since 2020. The EU would be adapting its laws due to the strong […]
European Union Lawmakers Support New ”Stifling” Crypto Laws
TL;DR Breakdown Members of E.U’s Parliament back the introduction of laws against crypto anonymity The crypto world kicks against this development. Lawmakers of the European Union have voted in support of new laws which aims at stripping crypto traders of their anonymity across Europe. On Wednesday, with 93 votes to 14 votes – and 14 […]
