While the assessment remains ongoing, OpenAI appears to have made little in the way of progress since 2023.
The European Data Protection Board (EDPB) published the first progress report from its “GPT taskforce” and the news isn’t good for ChatGPT.
OpenAI’s efforts to bring its flagship AI model, ChatGPT, into line with European Union (EU) rules including the comprehensive General Data Protection Regulation (GDPR) were noted by the EDPB, but ultimately deemed insufficient.
Per the EDPB document:
Kraken, a U.S.-based cryptocurrency exchange, insists it will keep USDT listed in European markets as long as regulations regarding stablecoins are not finalized. Mark Greenberg, Global Head of Kraken’s Asset Growth and Management Business, clarified they will “continue to look at all options to offer USDT under the upcoming regime.” Kraken Will Keep Tether’s USDT […]
The Redmond company could be fined as much as 1% of its annual revenue if it doesn’t respond by May 27.
Microsoft faces a fine in the European Union of up to 1% of its annual revenue if it doesn’t respond to a request for information by May 27.
The threat stems from a request made under the E.U.’s Digital Services Act concerning the company’s Bing search engine and its associated generative artificial intelligence services.
A post on X.com compelling Microsoft to “provide information under the Digital Services Act on generative AI risks on Bing” was sent on May 17 disclosing the news to the public.
Blockchain technology could enhance healthcare digitalization, but privacy concerns are hampering adoption.
Blockchain technology has expanded beyond cryptocurrency and is now used in a number of applications, including decentralized databases, which can prevent counterfeiting through transparency and security.
This ability to secure data is particularly valuable to the healthcare sector, where blockchain tech can secure data, enhance data integrity and empower patients to control their data more effectively.
It can also improve transparency in supply chains and verify the authenticity of medicine. Additionally, blockchain aids in healthcare identification and has the potential to enhance biomedical research by simplifying data storage and exchange.
The European Union’s Markets in Crypto-Assets Regulation is being phased in, but regulators have reportedly been inconsistent in enforcing existing laws.
The European Union’s flagship crypto legislation, passed in 2023, is coming into effect this year, but pre-existing legislation has not been enforced evenly.
This is according to Jon Helgi Egilsson, chair and founder of Monerium, a licensed e-money issuer operating in the region.
According to Egilsson, the new regulations — the Markets in Crypto-Assets Regulation (MiCA) — are built upon the EU’s Electronic Money Directive (EMD II), which has been flouted for years.
Bundesbank’s president Joachim Nagel urged central banks to revamp their business models and adopt digital currencies during the BIS Innovation Summit.
Central banks’ future depends on a revision of their business model and speedy adoption of central bank digital currencies (CBDCs), said Joachim Nagel, president of the Bundesbank and member of the European Central Bank (ECB).
Nagel reportedly warned about the uncertainty surrounding central banks during a panel session at the Innovation Summit hosted by the Bank for International Settlements on May 6.
“If you would have asked me 20 years ago if the central bank business model” was “destroyable or not, I would have said no,” he reportedly stated in Basel, Switzerland. Nagel continued:
Analysts from the London School of Economics and Political Science say a pan-European industrial cluster is necessary for the EU to compete in Web4.
LSE Consulting, a firm anchored within the London School of Economics and Political Science (LSE), recently released a report detailing a potential path towards European dominance in the emerging Web 4.0 sector.
According to the team, the formation of an Airbus-style industrial conglomerate dedicated to fostering innovation and growth in the metaverse is the EU’s best bet to compete with the U.S., China, and other global sector leaders, and potentially exploit Europe’s current technological and economic potential.
Airbus is a multinational conglomerate that was formed when a trio of French, German, and Spanish aerospace companies merged in 2000. Since 2019, it’s been the world’s leading manufacturer of both airliners and helicopters.
New rules under the MiCA framework may encourage big banks to enter the DeFi space, potentially complicating compliance for native crypto projects.
Inoming rules for decentralized finance protocols in Europe could raise significant barriers to crypto-native projects while encouraging licensed traditional financial institutions to get on board, predicts Marina Markezic, executive director of the European Crypto Initiative.
During an interview with Cointelegraph, Markezic discussed the European Commission’s upcoming DeFi report, which is due Dec. 30, 2024. The report is under the Markets in Crypto-Assets (MiCA) framework and will examine the feasibility of specific regulations for the DeFi ecosystem.
“We think that this regulation will facilitate those [traditional] players to come into this crypto space. We know that some banks are already thinking of issuing stablecoins,” Markezic said in response to the expected impacts of a DeFi regulatory framework, adding that:
The European Union’s in-house think tanks says the metaverse can help children heal from diseases.
The European Parliamentary Research Service (EPRS), a government think tank for the European Union, recently published a letter discussing the opportunities and challenges for children in the metaverse.
According to the post’s author, EPRS policy analyst Maria Niestadt, the metaverse can “boost children’s creativity and motivation to learn and even help them heal from diseases” and enable cultural and social experiences they may not otherwise be able to experience.
However, there are numerous challenges that the EU must face, according to the EPRS, including protecting children from adverse mental and physical outcomes related to the use of virtual, augmented, and/or mixed reality headsets as well as security and privacy issues.
The United States hosted its first 1,000 crypto ATMs in November 2017, while Canada achieved the same in January 2021.
Australia, the third-largest hub for Bitcoin (BTC) and crypto ATMs, recorded a new milestone with 1,000 active crypto-fiat machines now in operation.
As of April 24, Australia hosts an active network of 1,002 Bitcoin ATMs, making it the third country after the United States and Canada to achieve this feat. The nation represents 2.7% of the global Bitcoin ATM network.
According to Coin ATM Radar data, the U.S. hosted its first 1,000 crypto ATMs in November 2017, while Canada reached the same in January 2021.
