#eu

Lawmakers in the European Union are weighing the option of calculating fines for X by factoring in the revenue streams from Elon Musk’s other enterprises, such as SpaceX and Neuralink. This could lead to a steep rise in potential financial penalties for Musk over breaches in content moderation.

In response to the MiCA regulations that took effect in the EU on July 1, 2024, Tether has revealed it’s working on a game-changing solution, specifically created for the European market. This bold move comes as Coinbase sets strict deadlines for compliance, with rumors swirling about a possible delisting of USDT within the European Economic Area.

The European Commission criticized Internal Market Commissioner Thierry Breton for bypassing protocol by sending an official warning to Elon Musk without prior consultation with Commission President Ursula von der Leyen.

Today, the European Commission has announced the initiation of an investigation into Apple and Alphabet (Google) concerning the alleged illegal preferences extended to their app stores, as reported by the Financial Times.

The legal firm MANIMAMA has released a report analyzing cryptocurrency tax systems worldwide, including the EU, Switzerland, the UAE, and more. Notably, the UAE, particularly Dubai, emerges as one of the most favorable locations for crypto trading and earnings, as it imposes no capital gains or income tax.

The European Commission is rolling out a comprehensive package of measures to encourage the development of artificial intelligence (AI) among startups, alongside small and medium-sized enterprises. This strategic plan is consistent with EU principles and guidelines.

According to official registries, this year has seen the emergence of nearly 1,000 new cryptocurrency companies in the European Union. It is anticipated that by the end of the year, the total count of registered firms involved with decentralized technologies will reach approximately 11,600.

ESMA, the European Securities and Markets Authority, recommends that crypto companies perform regular cybersecurity audits. The regulator is urging EU lawmakers in Brussels to modify the regulatory documents for the sector to secure consumer funds more effectively.

Telegram founder Pavel Durov made his first public statement since being detained in France. He thanked users for their support and described the accusations as 'misguided,' noting that Telegram has an official representative in the EU and a hotline with French security services to combat terrorism.

The European regulator may impose a fine equivalent to 6% of the total revenue on Elon Musk’s social media platform X for its failure to address illegal content. This measure will be considered if the company does not implement the necessary changes following its next official warning.

The non-profit European Center for Digital Rights (NOYB) has filed a complaint against the AI developer OpenAI for breaching GDPR. As it turns out, ChatGPT can still provide inaccurate information about individuals due to AI hallucinations, contravening EU legislation that mandates accuracy in personal data.

The European Securities and Markets Authority (ESMA) has published its first final report on the regulatory framework for the crypto market under the Markets in Crypto-Assets Regulation (MiCA). This document presents ESMA's recommendations regarding the criteria for the proper registration of crypto service providers and the procedure for handling complaints. The report has now been submitted to the European Commission, with ESMA set to assist the government in implementing these recommendations as a consultant.

The Irish Council for Civil Liberties (ICCL), backed by organizations such as Foxglove and Mozilla, has called for an EU regulatory probe into the Microsoft-OpenAI partnership, speculating it could amount to a de facto merger.

European Securities and Markets Authority (ESMA) published drafted regulatory guidelines under the MICA framework.

The European Council and Parliament have tentatively agreed to bring the cryptocurrency market under the purview of EU anti-money laundering (AML) and anti-terrorism financing laws.

The government is set to leverage ChatGPT to translate extensive volumes of EU legal documentation into the Albanian language (shqip).