EU watchdog warns about the risk of a bank run on stablecoins
The European Systemic Risk Board suggests more disclosures, more monitoring to fight the risks of the crypto market. Go to Source Powered by WPeMatico
European Union
Auto Added by WPeMatico
G7 discusses crypto, supports CBDC — Law Decoded, May 15–22
The European Council has approved updated rules that extend tax reporting requirements to include transfers of crypto assets. Go to Source Powered by WPeMatico
Italy sets aside millions for workers at risk of AI replacement
Italian officials are setting aside $33 million to enhance the development of digital skills for workers at risk termination due to automation and AI. Go to Source Powered by WPeMatico
EU Council Adopts New Rules for Europe’s Crypto Markets
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
There’s a growing case for allowing crypto firms to bypass banks
Making the European Central Bank accessible to payment companies other than traditional banks would allow users to redeem their stablecoins directly for cash. Go to Source Powered by WPeMatico
Updated European tax directive requires reporting on all crypto asset transfers
DAC8 extends tax reporting procedures to crypto transfers in line with the OECD crypto reporting framework and EU AML rules. Go to Source Powered by WPeMatico
EU Council approves MiCA for clear crypto regulation
European Union Council finance ministers vote to adopt the continent’s Markets in Crypto-Assets legislation following unanimous approval of new legal frameworks. Go to Source Powered by WPeMatico
De-Risking or Decoupling? China- US Bilateral Trade Falls More Than 10% This Year
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
EU draft AI Act updated with public facial recognition ban
Regulators in the EU concluded another round of voting which added a new ban on the public use of biometric surveillance into its forthcoming AI Act. Go to Source Powered by WPeMatico
3 takeaways from the European Union’s MiCA regulations
The European Union’s Markets in Crypto-Assets regulation could stifle innovation and increase compliance costs for the crypto industry. Go to Source Powered by WPeMatico
