Tag: EU

The European Union (EU) has taken a significant step towards regulating artificial intelligence (AI) with the passage of the draft legislation known as the A.I. Act by the European Parliament.  This milestone bill, which aims to impose limitations on risky AI applications, could serve as a model for legislators worldwide ...

The European Union's Markets in Crypto-Assets (MiCA) Regulation, designed to establish a consistent regulatory framework for crypto assets across member states, has been published in the Official Journal of the European Union (OJEU) on June 9, 2023. The regulations were initially introduced in 2020 and ratified on May 31, 2023. ...

The European Consumer Organization (BEUC), Europe's top Consumer rights group, has raised concerns about the prevalence of misleading information and inadequate risk disclosure surrounding cryptocurrency ads on social media platforms. TikTok, Instagram, Twitter & YouTube are responsible for allowing misleading advertisements of crypto to multiply through ads & influencers. This ...

Vera Jourova, the deputy head of the European Commission, has called for companies utilizing generative AI tools such as ChatGPT and Bard, which have the capability to generate disinformation, to label their content. Jourova made these remarks during a press conference on June 5, 2023. Jourova emphasized that companies that ...

The European Systemic Risk Board (ESRB) issued a set of recommendations on May 25, 2023, aimed at preventing potential shocks in the crypto sector from endangering financial stability in the European Union (EU).  ESRB's recommendations include implementing rules for investment funds, exchanges, and other businesses dealing with cryptoassets, as well ...

The Economic and Financial Affairs Council of the European Union granted final approval to the Markets in Crypto-Assets (MiCA) legislation on May 16, 2023, following unanimous support from the finance ministers of all 27 member states. In addition to the approval of MiCA, the European Council also approved two other ...

The European Union is making significant progress towards implementing the AI Act, which is poised to become the world's first comprehensive legislation governing the use of AI technology.  On May 11, 2023, European legislators approved a stricter draft of legislation that aims to regulate various aspects of artificial intelligence tools. ...

The European Parliament has approved the first set of EU regulations called Markets in Crypto Assets (MiCA), designed to prevent money laundering, track transfers of digital assets, and address customer protection and supervision.  According to the statement by the National Security and Stock Market Commission of Ukraine, MiCA will encompass ...

After two consecutive delays, the European Parliament has finally held a final vote on the Markets in Crypto-Assets Act (MiCA). The regulation, originally proposed in 2020, now needs to be approved by the European Council to become an official regulation.  Following the vote on April 20, Stefan Verger, MiCA's rapporteur ...

The European Commission has created a new research unit to investigate the effects of algorithms used by prominent online platforms and search engines such as Facebook and Google.  On April 18, 2023, the European Centre for Algorithmic Transparency (ECAT), a research organization, began its operations with the aim of helping ...