Tag: EU
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EU adopts 13th sanctions package against Russia
On March 15, 2022, the European Union announced that it has adopted its 13th sanctions package against Russia in response to the ongoing conflict in Ukraine. The sanctions were imposed following Russia’s invasion of Ukraine and the subsequent humanitarian crisis in the region. The EU has taken a strong stance against Russia’s actions in Ukraine,…
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$1.95B Apple fine is eye-catching, but EU faces tough road collecting
In a significant move, the European Union has fined tech giant Apple a record-breaking $1.95 billion for anti-competitive practices. While this fine is eye-catching, the EU now faces a tough road ahead when it comes to collecting the money. The fine was imposed by the European Commission after it found that Apple had violated antitrust…
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EU fine challenges Apple’s payments business
Recently, the European Union fined tech giant Apple €1.1 billion for antitrust violations related to its App Store monopoly. This significant fine is expected to have far-reaching implications for Apple’s payments business and may lead to changes in how the company conducts its operations. One of the key issues in the EU’s case against Apple…
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EU Parliament moves forward with payment services reforms
The European Union Parliament has taken a significant step towards modernizing the payment services industry with the recent approval of a package of reforms aimed at improving the efficiency, security, and competitiveness of payment services within the EU. The package, known as the Payment Services Directive 2 (PSD2), builds upon the original Payment Services Directive…
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IDnow joins EU crypto compliance consortium
August 25, 2022 – IDnow, a leading provider of digital identity verification solutions, has announced its membership in the EU Crypto Compliance Consortium. This strategic move demonstrates IDnow’s commitment to enhancing the security and compliance aspects of cryptocurrency transactions within the European Union. The EU Crypto Compliance Consortium is a collaborative initiative composed of industry…
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EU updates rules for Big Tech antitrust assessment
EU Updates Rules for Big Tech Antitrust Assessment The European Union (EU) has introduced new rules for assessing antitrust issues concerning Big Tech companies. This decision underpins the EU’s commitment to maintaining fair competition and ensuring that powerful tech giants do not stifle innovation or engage in anti-competitive behavior to their advantage. The new regulations…
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Apple opens up payments under EU pressure
Apple Opens Up Payments Under EU Pressure In response to mounting pressure from the European Union (EU), tech giant Apple has made a significant announcement today. The company will be opening up payments on its devices to other payment apps in the EU, a move that aims to promote fair competition and increase consumer choice…
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EU to implement cash payment limit
EU to Implement Cash Payment Limit Recently, the European Union (EU) has announced its decision to implement a cash payment limit as part of its efforts to combat money laundering and illicit financial activities. The new regulation aims to further strengthen the EU’s Anti-Money Laundering (AML) framework by imposing greater restrictions on cash transactions. It…
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EU tightens AML rules for crypto and luxury markets
EU tightens Anti-Money Laundering (AML) rules for cryptocurrency and luxury markets In recent developments, the European Union (EU) has significantly strengthened its Anti-Money Laundering (AML) regulations for both the cryptocurrency and luxury markets. With the intention to combat illicit financial activities and enhance financial transparency, these measures aim to impose stricter rules and obligations on…
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Coinbase advances expansion with EU MiFID licence acquisition
Entering a New Market In a major move, leading cryptocurrency exchange Coinbase has announced its acquisition of a European Union (EU) Markets in Financial Instruments Directive (MiFID) licence, signaling its advancement and expansion into the European market. This strategic acquisition allows Coinbase to offer its services and products to clients across the EU, bringing a…
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The CJEU issues a landmark EU data protection ruling
In a groundbreaking decision, the Court of Justice of the European Union (CJEU) has issued a landmark ruling regarding data protection laws in the European Union (EU). This ruling sets a significant precedent and will have far-reaching implications for individuals, businesses, and governments alike. The Impact of the Ruling …
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EU nears approval of artificial intelligence regulations
EU Nears Approval of Artificial Intelligence Regulations The European Union (EU) is on the verge of approving groundbreaking regulations on the use of artificial intelligence (AI). These regulations aim to establish a legal framework that safeguards fundamental rights, ensures public safety, and fosters innovation and trust in AI technologies. Under the proposed rules, high-risk AI…
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Robinhood expands crypto trading to EU
Robinhood Expands Crypto Trading to EU Robinhood, the popular commission-free trading platform, has announced its expansion into the European Union (EU) market, allowing customers based in the EU to now trade cryptocurrencies. This move comes as no surprise, given the increasing popularity and demand for cryptocurrency trading globally. Robinhood’s expansion into the EU represents a…
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Brighty App launches EU payment platform
Revolutionizing payments in Europe with Brighty App Brighty App, the leading fintech company, has made a remarkable debut in the European Union with the launch of its intuitive and versatile payment platform. With this latest innovation, Brighty App is set to change the way people in Europe handle their financial transactions…
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Wise stops accepting new UK and EU customers due to capacity issues
Capacity Constraints Force Wise to Temporarily Stop Accepting New Customers in UK and EU London, UK – In a surprising turn of events, financial technology company Wise has announced that it will no longer be accepting new customers from the UK and the European Union (EU) until further notice. This decision comes as a result…
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EU Proposes stringent rules for stablecoin issuers
The European Union (EU) has recently put forth a proposal for the implementation of more stringent regulations aimed at stablecoin issuers. Stablecoins, which are cryptocurrencies designed to maintain a stable value by pegging them to another asset like fiat currencies, have gained significant attention in recent years and are increasingly being used as a medium…