Crypto Exchange Kraken Mulls Pulling Support for Top Stablecoin USDT in the EU: Report

May 18, 2024 The Daily Hodl

Altcoins

The San Francisco-based crypto exchange Kraken is reportedly mulling whether to pull support for the stablecoin USDT in the European Union (EU). Bloomberg reports that Kraken is “actively reviewing” its European support for the Tether-issued stablecoin. European digital asset trade associations and think tanks have warned that the EU’s Markets in Crypto-Assets Regulation (MiCA) could […]

The post Crypto Exchange Kraken Mulls Pulling Support for Top Stablecoin USDT in the EU: Report appeared first on The Daily Hodl.

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Blockchain adoption in healthcare faces serious obstacles in Germany

May 12, 2024 Coin Telegraph

Coin Telegraph

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.

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EU Regulator Considers Crypto Inclusion in €12 Trillion UCITS Funds

May 9, 2024 Bitcoin.com

bitcoin.com

The European Securities and Markets Authority (ESMA) has initiated a call for evidence to explore the potential inclusion of new assets, including cryptocurrencies, in UCITS funds, which represent a major share of EU retail investments. UCITS, an acronym for Undertakings for Collective Investment in Transferable Securities, is a regulatory framework of the European Union that […]

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EU crypto regulations undermined by lack of enforcement, say observers

May 7, 2024 Coin Telegraph

Coin Telegraph

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.

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Central banks must revise business model, embrace CBDCs — ECB member

May 6, 2024 Coin Telegraph

CBDC

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:

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OpenAI hit with privacy complaint in Austria, potential EU law breach

April 29, 2024 Coin Telegraph

accuracy

Austrian data rights group Noyb filed a privacy complaint against OpenAI, accusing its ChatGPT of providing false information and potentially breaching EU privacy regulations.

The prominent artificial intelligence (AI) developer OpenAI has been placed at the center of a new privacy complaint launched by a data rights protection advocacy group in Austria.

On April 29, Noyb opened the complaint alleging that OpenAI has not fixed false information provided by its generative AI chatbot ChatGPT. The group said these actions, or lack thereof, could breach privacy rules in the European Union.

According to the group, the complainant of the case, an unnamed public figure, asked OpenAI’s chatbot for information about himself and was consistently provided with incorrect information.

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Europe needs ‘Airbus for the metaverse’ to become global Web4 leader

April 28, 2024 Coin Telegraph

Coin Telegraph

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.

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EU DeFi regulations set to welcome big banks, challenge crypto natives

April 26, 2024 Coin Telegraph

Coin Telegraph

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:

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EU touts health benefits for children in the metaverse despite risks

April 26, 2024 Coin Telegraph

Augmented Reality

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.

European Union