First introduced in 2020, MiCA aims to create a consistent regulatory framework for crypto assets among the European Union member states. Officials with the European Union have signed the Markets in Crypto-Assets, or MiCA, bill into law following final approval from finance ministers. On May 31, Sweden’s minister for rural affairs, Peter Kullgren, and European…
Read more
The EU tech chief spoke to members of the EU-U.S. Trade and Technology Council about the need for a voluntary code of conduct prior to the forthcoming laws. Lawmakers in the European Union are seeking to implement a code of conduct for the development and implementation of artificial intelligence (AI) prior to their forthcoming EU…
Read more
The European Central Bank exercise looked at a variety of use cases, most of which were quite satisfactory, as well as the use of self-custodied wallets. The European Central Bank (ECB) has published a summary of the results of its digital euro central bank digital currency prototyping exercise. The exercise investigated offline use of a…
Read more
Italian officials are setting aside $33 million to enhance the development of digital skills for workers at risk termination due to automation and AI. Italy’s back and forth with the emergence of artificial intelligence (AI) continues, after lawmakers in the country announced funds for those at risk of losing their jobs to automation. On May…
Read more
The Council of the European Union has given its final approval to new regulations for crypto assets and markets in the EU. The decision completes a lengthy and complex legislative process for what’s considered to be the world’s first comprehensive legal framework for digital assets like bitcoin. EU Finance Ministers Give Final Nod to Markets…
Read more
Making the European Central Bank accessible to payment companies other than traditional banks would allow users to redeem their stablecoins directly for cash. Within 11 days in March, four banks in the United States and one in Switzerland collapsed. First Republic Bank followed in May. Three of the four largest-ever U.S. bank failures occurred in…
Read more
Analysts have criticized the new ‘de-risking’ strategy that the U.S. is currently using against China, explained by U.S. National Security Advisor Jake Sullivan in April, clarifying that national security was over economic costs. These de-risking policies might affect bilateral trade, which fell by 11.2% to $217.9 billion during the first four months of 2023. ‘De-Risking’…
Read more
Regulators in the EU concluded another round of voting, adding a new ban on the public use of biometric surveillance into its forthcoming AI Act. Lawmakers in the European Union have forwarded legislation concerning artificial intelligence (AI) to the next phase after concluding a vote from two lawmakers’ committees. In a vote on May 11, Members…
Read more
The European Union’s Markets in Crypto-Assets regulation could stifle innovation and increase compliance costs for the crypto industry. The European Union has become the first major jurisdiction to pass a comprehensive crypto law, the Markets in Crypto-Assets (MiCA) regulation, which aims to provide legal certainty for the crypto industry and investors by establishing standard regulations…
Read more
High-risk tools will not be banned entirely, though they will be subjected to stricter transparency procedures. Legislators in the European Union have pushed forward with a draft of a new bill designed to keep artificial intelligence technology in check. According to the bill, the high-risk tools will not be banned entirely, though they will be…
Read more
