German brands embrace NFTs, exploring new ways to engage with customers and build brand loyalty. 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…
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The digital euro will make electronic payments a vital piece of the financial system, the statement claims. Banco de España, Spain’s central bank, has joined a chorus of European banking institutions preparing their customers for the potential benefits of a digital euro. The central bank published a short text on Oct. 19 explaining the nature and…
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Mastercard ended its partnership in Latin America and Bahrain with Binance in September, possibly due to the regulatory environment. Binance Visa debit card services will close down in the European Economic Area (EEA) on Dec. 20, according to an announcement by the cryptocurrency exchange on Oct. 20. Binance exchange accounts will be unaffected. According to…
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The Greek prime minister created an AI advisory committee comprising some of the country’s top tech, ethics and science professionals. 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…
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The European Data Protection Board and the European Data Protection Supervisor issued a joint opinion statement on regulating a digital euro. On Oct. 18, the European Data Protection Board and the European Data Protection Supervisor issued a joint statement on regulating a digital euro, as proposed by the European Commission in July 2023. The regulators made several…
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The joint guidelines include granting authorization for ART and CASP issuance and conducting prudential assessments for potential acquisitions. 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…
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New EU rules will introduce automated exchange of information on crypto revenues reported by service providers in the sector. A new directive adopted by the Union expands existing registration and reporting obligations as well as cooperation between tax administrations across the bloc. Information Sharing Between National Tax Administrations in EU to Cover Crypto Assets The…
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Though the issuance of a digital euro is not a certainty, officials with the European Central Bank are moving to next phase of the project. The governing council of the European Central Bank (ECB) has announced it will begin the ”preparation phase” for the digital euro project following a two-year investigation. In an Oct. 18…
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The mere fact that the Deutsche Bundesbank, BIS and other financial incumbents want such information now suggests a tacit acceptance of crypto. The Bank for International Settlements’ (BIS) Project Atlas report offers yet another indication that the worlds of crypto and traditional finance may be converging. On the surface, this proof-of-concept project backed by some…
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The summit scheduled for Nov. 1–2 will place significant emphasis on the potential existential threat that AI represents, a concern shared by several legislators. The United Kingdom will be hosting the world’s inaugural international summit on artificial intelligence (AI) safety in November 2023. This event seeks to establish the U.K.’s presence as a mediator between…
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