Europe Financial News

The European Parliament has passed the EU AI Act, a sweeping legislative framework for governance and oversight of artificial intelligence technologies in the European Union.

The European Union signed the Markets in Crypto-Assets (MiCA) regulations into law on May 31, making way for the landmark regulatory guidance on crypto assets and service providers to come into effect.

The Irish Data Protection Commission (DPC) has reportedly blocked the launch of Google’s generative artificial intelligence (AI) service, Bard, in the European Union over privacy concerns. 

The Bitcoin (BTC) community in Europe continues to be a voice in combatting social problems affecting the continent, according to podcast host Erik Dale.

The European Consumer Organization (BEUC) has released a report accusing leading social media platforms including Instagram, TikTok, Twitter, and YouTube of enabling scams related to digital assets. 

The European Commission has made moves to implement blockchain technology to transform the way educational and professional credentials will be verified across borders.

The United States could run the risk of an exodus of major Web3 and cryptocurrency service providers as the Securities and Exchange Commission (SEC) takes action against Coinbase and Binance.

The largest European consumer rights group alleges crypto marketers in popular social networks the misleading promotion and thus exposing consumers to serious harm. A certain complaint was filed with the European Commission. 

Officials in the European Union have discussed additional measures that would make artificial intelligence (AI) tools, such as OpenAI’s ChatGPT, more transparent to the public.

Web3, the latest iteration of the internet that leverages the power of decentralization, is very much about building trustless ecosystems that naturally present credible services to its communities. Trust is a fundamental pillar of Web3. Communities should feel safe when it comes to their data and transactions, especially as the responsibility is transferred from centralized entities to decentralized networks ruled by code alone.

Digital asset infrastructure provider Taurus is stepping up its tokenization efforts in Europe through a full integration with the Polygon blockchain, the company announced on June 2. 

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

The European crypto scene has gained significant traction over the past few years, with a surge in the interest in and adoption of cryptocurrencies and blockchain technology. While the crypto industry is often associated with decentralization, innovation and financial freedom, it is not immune to various political ideologies and influences, and right-wing movements are no exception.

A senator in Italy spoke before members of the Italian parliament with, unbeknownst to parliament members, a speech entirely composed by artificial intelligence (AI). 

Lawmakers in the European Union are seeking to implement a code of conduct for the development and implementation of artificial intelligence (AI) prior to their forthcoming EU AI Act. 

Cryptocurrency is going to become less private in Europe as the major exchange Binance is preparing to delist all privacy tokens in countries like France and Italy.

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

Millions of American television viewers, including those watching the NBA Finals, will soon see a new national ad campaign run by Coinbase. Titled “Moving America Forward,” the campaign is focused on explaining crypto and illustrating how it can help “update the system.” The ads add to the increasing pressure the company is putting on the United States Securities and Exchange Commission for clarity on digital assets. But no company can operate without a backup plan, which explains why Coinbase also secured a license in Bermuda in April to operate an offshore exchange.

Despite a «wild year» of scandal and failure in 2022 when the FTX exchange and a number of crypto dealers collapsed, Peter Smith, chief executive of London-based Blockchain.com, told the Qatar Economic Forum that there is now «real growth» in the crypto community. Smith, who said nearly a decade as head of Blockchain.com had left him with «no nerve endings», told how other countries were taking advantage of the void left by the US where some regulators were «openly negative about crypto». While some US legislators want to see rules for a cryptocurrency market, regulators there have taken a tough line because of fears of money laundering and scams such as the FTX collapse. Former FTX chief Sam Bankman-Fried is due to go on trial in New York in October.

French lawmakers have agreed to tone down the restrictions on a bill first proposed in March that would have severely restricted locally-registered cryptocurrency companies from using influencer marketing.

Crypto exchange Gemini has selected Dublin as the headquarters for its European operations, amid a backdrop of crypto companies seeking expansion outside of the United States.