European Union

The Secretary-General of Amnesty International, Anges Callamard, released a statement on Nov. 27 in response to three European Union member states pushing back on regulating artificial intelligence (AI) models. France, Germany and Italy reached an agreement that included not adopting ...

The Data Act — a contentious piece of European Union legislation that includes a clause requiring the ability to terminate smart contracts — has been approved by the European Parliament. If introduced, the legislation will require a smart contract to have a “kill switch.”In a Nov. 9 p ...

The European Union’s banking regulator, the European Banking Authority (EBA), wants to update existing anti-money laundering rules and focus on combatting the financing of terrorism (AML/CFT) for crypto providers. In a consultation paper published on Nov. 24, the EBA explains that cur ...

A group of businesses and tech companies have issued a joint letter to European Union regulators warning against over-policing powerful artificial intelligence (AI) systems at the expense of innovation. The letter, which was sent on Nov. 23 and undersigned by 33 companies working ...

The collapse of FTX in 2022 and Binance’s recent $4.3 billion settlement with U.S. authorities provide a strong argument for the provisions of the European Union’s markets in crypto-assets (MiCA) legislation, a European Commission official said in an interview.Ivan Keller, policy officer f ...

The Italian Data Protection Authority, a local privacy regulator, announced the launch of a “fact-finding” investigation on Nov. 22, in which it will look into the practice of data gathering to train artificial intelligence (AI) algorithms.The investigation aims to verify the adoption of a ...

Belgium plans to accelerate the development of a European blockchain infrastructure during its presidency of the EU Council in early 2024, according to the goveernm. The proposal aims to facilitate the secure storage of official documents like driving licenses and property titles. The ...

The European Union has been actively preparing for what it envisions as the future of money. Over the last year, it finalized its landmark comprehensive crypto legislation, the Markets in Crypto-Assets regulation (MiCA), which is due to take effect in 2024, after closing its second consultat ...

The European Parliament has voted to approve the Data Act — controversial legislation that includes a stipulation necessitating smart contracts have the ability to be terminated.In a Nov. 9 press release, the parliament said the legislation passed 481 votes to 31 against. To become law, it ...

Crypto exchange OPNX has obtained a virtual asset service provider license (VASP) in Lithuania, allowing it to provide spot crypto exchange services throughout the European Union, according to a Nov. 8 announcement seen by Cointelegraph.OPNX trading interface. Source: OPNXThe announcement ...

The aim of the new liquidity guidelines is to ensure that the stablecoin can be quickly redeemed even during turmoil market conditions to avoid the risk of any bank runs and contagion in a crisis situation.Under the proposed liquidity guidelines, stablecoin issuers must offer any stablecoi ...

As the Bank of Spain embraces the potential adoption of a digital euro, the country’s population doesn’t appear to have the same strong appetite for the European Central Bank’s digital currency project. This emerges from the results of a survey published by the Bank of Spain enti ...

Spanish Ministry of Economy and Digital Transformation reported that the first comprehensive European Union crypto framework, the Markets in Crypto Assets (MiCA) Act, will come into force on the national level in December 2025.As follows from the release published by the Ministry on Oct. 2 ...

The Group of Seven (G7) industrial countries are scheduled to agree upon an artificial intelligence (AI) code of conduct for developers on Oct. 30, according to a report by Reuters. According to the report, the code has 11 points that aim to promote “safe, secure, and trustworthy AI w ...

For the most part, nonfungible tokens (NFTs) have two primary use cases: Buying and selling digital products (digital art, virtual fashion items) and building digital communities (exclusive memberships, access to events). These use cases can be easily adopted by brands and companies, ...

The Central Bank of Spain joined a chorus of European banking institutions, preparing their customers for all the benefits of the “digital euro.” The Bank of Spain last week published a short text explaining the nature and uses of the European Union’s potential central bank digital currency (CBDC ...

Greek Prime Minister Kryiakos Mitsotakis announced the establishment of an advisory committee to create a national strategy for artificial intelligence (AI) in Greece on Oct. 19.The Greek government said the “exponential pace” of AI development has created the necessity for an advisory com ...

Binance Visa debit card services will close down in the European Economic Area (EEA) on December 20, according to an announcement by the cryptocurrency exchange on Oct. 20. Binance accounts will be unaffected.According to a Binance letter to customers posted online, the Binance card issuer ...

The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) on Oct. 20 jointly released a consultation paper featuring two drafts. These drafts encompass the assessment of the suitability of management body members and shareholders or members holding qualifying s ...

On Oct. 18, the European Data Protection Board (EDPB) and the European Data Protection Supervisor (EDPS) issued a joint opinion statement on the regulation of “digital euro,” proposed by the European Commission in July 2023. The regulators made several recommendations to enhance the personal data ...

Crypto exchange Binance has announced it has onboarded new partners to handle euro deposits and withdrawals, months after losing its previous fiat partner PaySafe in September. In an Oct. 19 statement, Binance announced that it had signed agreements with new fiat partners for euro pay ...

U.S. surveillance and facial recognition firm Clearview AI has won a court appeal in the United Kingdom after being accused of alleged infractions related to the U.K’s general data protection regulation (GDPR). Originally, the company was fined nearly $10 million for breaches of the U ...

Bank of Finland (BOF) is coordinating the creation of a Finnish instant payment solution compatible with European standards. BOF board member and member of the Governing Council of the European Central Bank (ECB) Tuomas Välimäki made the announcement on Oct. 19. Välimäki revealed that ...

The eighth iteration of the Directive on Administrative Cooperation (DAC8), a cryptocurrency tax reporting rule, was formally adopted by the Council of the European Union on Oct. 17. The regulation will enter into force after it's published in the Official Journal of the EU. DAC was s ...

The United Kingdom (U.K.) will be hosting the world's inaugural international summit on artificial intelligence (AI) safety in Nov. 2023. This event seeks to establish the U.K.'s presence as a mediator between the United States, China and the European Union in the critical field of technology, po ...

Last week, the FTX court saga had elements of a TV drama, with Sam “SBF” Bankman-Fried’s former business associate and girlfriend, Caroline Ellison, sharing some shocking stories about SBF’s rule over the company. Ellison admitted to fraud during her time as CEO at Alameda under Bankman-Fried’s d ...

Fraudsters in Ireland prefer targeting traditional banking customers instead of cryptocurrency investors amid a two-year-long bear market.The frequency of cryptocurrency scams is often directly proportional to the hype and profits around the ecosystem at a given time. It appears that the o ...

The United Nations and the Dutch government have unveiled plans to establish a framework for the ethical oversight of artificial intelligence (AI). The project, titled "Supervising AI by Competent Authorities," is a collaboration between the Dutch Authority for Digital Infrastructure and UNESCO (the ...

Canadian startup Tenstorrent has entered into a partnership with Samsung's chip manufacturing division, marking a significant development in the AI chip industry. The collaboration aims to bring the next generation of AI chiplets to market, revolutionizing chip production for data centers. The partn ...

Mário Centeno, the Governor of Banco de Portugal, has joined the growing number of regulators advocating for a global framework to regulate cryptocurrencies effectively. In his opening speech at the 2023 Banco de Portugal Financial Stability Conference on October 2, Centeno emphasized the need for i ...

Fintech innovations and emerging technologies have been rapidly evolving worldwide, prompting global regulators to adapt and establish regulatory frameworks. In this landscape, Latvia, a small Baltic country neighboring Estonia and Lithuania, has been quietly joining the efforts to understand and re ...

The European Union's financial services chief, Mairead McGuinness, believes there’s no reason to rush with the digital euro until after the next European elections in June 2024. In her opinion, the EU’s central bank digital currency (CBDC) project should be approached “quietly and slowly” by the ...

IBM has some ideas about what it will take to make the digital euro a success, which it shared in a recent blog post. It suggested five items for designers to help the European Central Bank digital currency “enter the highly competitive, multifaceted, and heterogeneous payments landscape in ...

While United States regulators such as Securities and Exchange Commission Chair Gary Gensler make bad-faith claims that “there’s been clarity for years” when it comes to cryptocurrency, the European Union took real action in April when it passed the Markets in Crypto-Assets (MiCA) regulatory fram ...

The first-ever spot Bitcoin ETF, launched on the European market, has been defined as an Article 8 fund by its issuer firm, London-based Jacobi Asset Management. Funds included under Article 8 of the European Sustainable Finance Disclosure Regulation (SDFR) are those that “promote environmental a ...

Agence France-Presse (AFP) announced a lawsuit against X, the company formerly known as Twitter, on Aug. 2, citing Europe’s “neighboring rights” legislation.According to a press release, AFP is asking the courts to force X — which the press release refers to as &ldq ...

An open letter from GitHub, Hugging Face, Creative Commons and other tech firms are calling the European Union to ease upcoming rules for open-source artificial intelligence models.The letter urges policymakers to review some of the provisions of the EU's Artificial Intelligence Act, claim ...

On July 11, the European Commission formally adopted its new strategy on Web4 and virtual worlds with the aim of ensuring “an open, secure, trustworthy, fair and inclusive digital environment” for European Union citizens. The strategy is based on four main pillars, revolving around th ...

The European Union has been vocal about its place in the rapidly expanding ecosystem of emerging technologies. It has been a leader in establishing clear crypto regulations with its long-awaited Markets in Crypto-Assets (MiCA) framework signed into law in late May. The EU has als ...

The future is bright for euro-denominated stablecoins, according to Patrick Hansen, European Union strategy and policy director at Circle. The United States dollar may preserve its first-mover advantage, but euro stablecoins will see increasing real-world use cases emerge to lift them above thei ...

The European Commission has tipped “extended reality” — technology that enables people to interact with virtual worlds — to create as many as 860,000 jobs in Europe by 2025. Extended reality or XR is an umbrella term for immersive technologies including virtual ...

Stablecoin use could be "stifled" by daily transaction caps in the European Union's Markets in Crypto-Assets (MiCA) legislation, with some calling for the framework to be revised.On May 31, MiCA was signed into law which paved the way for the world’s first regulatory guidance on cryp ...

The first batch of blockchain use cases to debut in Europe's regulatory sandbox was formally introduced on July 3, following a long wait and nearly 90 applications received in April. First disclosed in 2020, the initiative aims to bridge the regulatory gap between European nations and crypto comp ...

European Union (EU) lawmakers have agreed to move ahead with the controversial European Data Act, which has previously drawn criticism from the crypto community. The act, aimed at encouraging greater use of data resources to train algorithms, would update the EU’s rules on smart contracts to incl ...

The Australian Treasury’s token mapping of digital assets will adopt a “tech agnostic” and “principles-based” approach in order to define crypto assets, according to a Treasury official.Speaking to Cointelegraph on June 26 at the Australian Blockchain Week, Tr ...

The European Union debit card provider for Cryptopay has lost its Electronic Money Institution (EMI) license, according to a June 22 email sent to its customers. The company recommends to EU cardholders that they should immediately spend or transfer funds from their cards. Funds held in the app’s ...

CACEIS Bank, the asset servicing arm of Crédit Agricole and Santander, has received a crypto custody license in France, according to the regulator’s website on June 20. CACEIS claims to be a European leader in asset servicing, offering services from clearing and fund administrati ...

Consumer protection groups from the European Union (EU) have urged regulators to conduct investigations on artificial intelligence (AI) models behind popular chatbots. According to a report from the AP on Tuesday, 13 watchdog groups issued a warning to their national consumer, data pr ...

Slovakia will codify the right to use cash as a method of payment after a vote to amend the nation’s constitution passed in parliament on June 15. The new legislation was sponsored by the Sme Rodina party, also known as the “We Are Family” party, and was reportedly drafted as a precau ...

Once again, the United States Securities and Exchange Commission (SEC) became the week’s headliner. Its intention to freeze the entirety of Binance.US’s assets got a reality check from U.S. district court Judge Amy Berman Jackson, who advised the regulator and the crypto exchange to negotiate a d ...

The European Union signed the Markets in Crypto-Assets (MiCA) regulations into law on May 31, making way for the landmark regulatory guidance on crypto assets and service providers to come into effect.First drafted in 2020, the EU’s regulatory package will govern the issuance and sco ...

Christian Anders, the CEO of Btc. x has said that despite the Markets in Crypto Assets (MiCA) being signed into law, the European Union (EU) might need to do a lot of more lobbying of different regulators in Europe and work with the different governments.In an interview with Cointelegraph, ...

De-dollarization, the decline of the United States dollar as the world’s dominant reserved currency, is underway, and it’s gaining momentum. For over 100 years, the U.S. dollar has been the world reserve currency, which means it has been the dominant foreign currency held by central b ...

Venture capital firm Sequoia Capital announced an impending split that will see the company break into three distinct partnerships serving the United States, China, and Asian markets separately. The move, announced on June 6, is intended to decentralize back-office functions for ...

The European crypto scene has gained significant traction over the past few years, with a surge in the interest in and adoption of cryptocurrencies and blockchain technology. While the crypto industry is often associated with decentralization, innovation and financial freedom, it is not immune to ...

European Securities and Markets Authority (ESMA) has published an official warning about the risks of investing in cryptocurrencies, which remain relevant until the entry into force of the law on the regulation of cryptocurrencies in the European Union (MiCA). ESMA states t ...

They plan to open a representative office in the region And hire a staff of 100 people Krypto-exchange OKX has applied in France to become a digital asset service provider (DASP). The documents will be reviewed by the Autorité des Marchés Financiers and the Au ...

It will take place on May 23 and 24 It's a platform for dialogue between politicians, business and Web3 projects The EUROPEAN WEB3 SUMMIT BRUSSELS crypto summit will be the hub on Tuesday and Wednesday in Brussels. It will be attended by politicians from count ...

Cryptocurrency companies that move away from the uncertainty of U.S. regulation will be welcomed in France, local officials said. "In France, we are proud to be pioneers of the crypto-asset industry," said Benoît de Juvigny, secretary general of the F ...

On Tuesday, May 16, the European Council completed the procedure for harmonizing legislation on the regulation of the crypto-assets market in the EU. Finance ministers from the 27 countries that make up the European Union have unanimously supported the draft law on regula ...

Besides NFTs could tax foreign companies Law to be agreed in a week The European Union may introduce a law that would force cryptocurrency companies to provide detailed information about their customers' assets. Also, cryptocurrencies will be required to regis ...

U.S. Securities and Exchange Commission (SEC) Commissioner Esther Pearce believes that the recently passed European Union's Cryptocurrency Regulation Act (MiCA) would be a good model for oversight of the industry. Speaking at the Crypto and Digital Assets Summit in London, ...

The French Financial Markets Authority has outlined plans to align its existing regulations for licensing and supervising crypto companies with the new MiCA law recently adopted by the European Union. The AMF has announced that it has developed a transition plan following the approval of the draf ...

According to recent reports, the European Union's Council has passed a new amendment to data law which requires smart contracts to have the option of forced termination. Smart contracts are automated programs stored on the blockchain that can be executed without the need for a third party. The ...

Johan Van Overtveldt, the former Belgian Finance Minister and representative of the right-wing political party ECR in the European Parliament, has recently made headlines by urging EU authorities to immediately ban cryptocurrencies. The politician drew a comparison between cryptocurrencies and dr ...

The Committee for Industry, Research and Energy of the European Union has amended the European Digital Identification System (eID), namely a new zero-knowledge proof standard, which will work on the basis of a special application. 55 members of the committee voted for the innovations, only eight ...