The proposed new industry guidelines are intended to address issues around AML and CFT rules. The European Union’s banking regulator, the European Banking Authority (EBA), wants to update existing Anti-Money Laundering and Combatting the Financing of Terrorism (AML/CFT) rules for crypto providers. In a consultation paper published on Nov. 24, the EBA explains that current…
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A group of 33 businesses and tech companies have signed a joint letter to EU regulators urging them not to over-regulate emerging AI technologies at the cost of innovation. 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…
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European Commission policy officer Ivan Keller highlights high-profile centralized exchange shortcomings as key reasons for the implementation of MiCA regulations in Europe. The collapse of FTX in 2022 and Binance’s recent $4.3-billion settlement with United States authorities provide a strong argument for the provisions of the European Union’s Markets in Crypto-Assets (MiCA) legislation, a European…
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The Italian Data Protection Authority has launched a “fact-finding” probe into the security practices of public and private websites to prevent AI data scraping. 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…
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The country’s government plans to accelerate the development of a European blockchain infrastructure during its presidency of the Council of the European Union. Belgium plans to accelerate the development of a European blockchain infrastructure during its presidency of the Council of the European Union in early 2024, according to the country’s government. The proposal aims…
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European Union lawmakers anticipate the arrival of the digital euro, but German politician Joana Cotar is pushing back against the currency and fighting in favor of Bitcoin. The European Union has been actively preparing for what it envisions as the future of money. In the past year, it finalized its landmark comprehensive crypto legislation, the…
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The European Parliament and the Council of the European Union (EU) have finalized the agreement that will allow the implementation of a continent-wide digital ID wallet program. The agreement, which needs to be ratified at the parliamentary level, would greenlight the issuance of the EU digital ID wallet in accordance with the “Europe’s Digital Decade”…
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The Act, inclusive of a clause necessitating “kill switches” on smart contracts, only now needs approval from the European Council to pass into law. 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…
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The country’s population doesn’t demonstrate as high a confidence level in the European Central Bank’s digital currency project as the government does, according to the survey. 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…
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The country said EU crypto rules will come into force in December 2025, ahead of the general deadline for implementing MiCA for all 27 member states of the EU. The 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…
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