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By the end of 2024, a new international body to oversee the development and deployment of a blockchain to connect European citizens to public services — and in the long run, other private applications — will likely be in operation.
In other words, the EU is going big on blockchain. On Thursday, the European Commission is launching a new European Digital Infrastructure Consortium (EDIC), dedicated to scaling up efforts to compete with other large-scale blockchain groundworks, like South America’s Lacchain and China’s Blockchain-based Service Network
The European Union’s blockchain strives to integrate a host of public applications, like holding citizens’ digital identities and wallets, tracing and verifying goods, storing licences to more easily transfer between countries and more. Behind the scenes, there are already talks with other jurisdictions on how to integrate blockchains for certain use cases.
The full law, published alongside related legislation requires crypto wallet providers to identify their customers when they transfer funds, offers crypto companies, such as exchanges and wallet providers, a license to operate across the bloc, and introduces new governance and financial requirements for stablecoin issuers.
The European Union’s Markets in Crypto Assets law (MiCA) was published in the Official Journal of the European Union (OJEU) and it will take effect as of December 30, 2024.
An announcement from the European Parliament on June 14 said that members advanced an Artificial Intelligence (AI) Act to the next stage.
The relevant vote saw 499 votes in favor, 28 against, and 93 abstaining. This does not enact the legislation into law; rather, it adopts a negotiating position.
If the Artificial Intelligence Act eventually comes into force, it would ban certain applications of AI. The law would specifically ban discriminatory uses of AI, such as predictive policing applications and some types of biometric applications.
Bloomberg reported June 14 that it obtained a copy of a draft proposal from the European Commission. That proposal could require the European Central Bank (ECB) to set limits on the use of a digital euro as far as financial stability is concerned.
Those limits could not block transactions that do not pose a risk to financial stability, and the limits would need to be applicable across the eurozone.
Paying interest on or surcharges for using a digital euro would be banned under a draft law seen by CoinDesk, and set to be proposed by the European Commission on June 28.
The proposed central bank digital currency (CBDC) would have to be available for cash-style offline payments from day one, and users shouldn’t be able to program it to limit onward use, the leaked bill said.
a reply to: G005E
But THEN. I was at work this morning and I get a post from Disclose.TV that this morning “US Federal Government agencies hit in global cyber attack. CISA working urgently to understand impacts”
BlackRock, the world's biggest asset manager, is close to filing an application for a Bitcoin ETF (exchange traded fund), according to a person familiar with the matter.
BlackRock will be using Coinbase (COIN) Custody for the ETF and the crypto exchange’s spot market data for pricing, the person said. Coinbase declined to comment.
BlackRock began working with Coinbase to make crypto directly available to institutional investors midway through last year.
Strike, the global money app, has announced the expansion of its payment service, "Send Globally," to Mexico, the largest market for cross-border payments from the United States. This move comes as cross-border payments from the U.S. to Mexico reach historic highs, with Mexico receiving a record $60 billion in remittances from the U.S. alone in 2022.
By leveraging Bitcoin's Lightning Network, Strike aims to provide a faster, cheaper and more accessible alternative to traditional money transfer providers in Mexico. With Send Globally, users will be able to enjoy instant payments to a Mexican bank account without added transaction fees. In a press release shared with Bitcoin Magazine, Jack Mallers, founder and CEO of Strike, stated, "We're excited to bring fast, low-cost cross-border payments via the Lightning Network to Mexico, enabling more people to send money home."
To facilitate these transfers, dollars are converted into bitcoin, which is sent via the Lightning Network to a third-party partner. The partner then converts the bitcoin into local currency and sends it directly to the recipient's bank account. Strike has partnered with Relampago in Mexico to enable transfers from U.S. dollars that are received as local currency in a recipient's bank account.
Roger Bayston, head of digital assets at Franklin Templeton, told Blockworks the company is working with the SEC to unlock “a rich set of features” that blockchain tech enables for mutual funds, including efficiency gains and, in turn, potential lower fees.
Going forward, such funds could be used alongside stablecoins, or even an alternative to them, he added.
Blockchain technology is set to be “transformational” for other capital markets going forward, Bayston said.
Bayston, who began working at Franklin Templeton, noted his deep familiarity in mortgage-backed securities, which comprise a collection of home loans and other real estate debt.
While NFTs are often thought of as digital art, Bayston said, each individual loan issued in the economy could be an NFT.
A pioneering move in the industry, the NFT series aims to take fan engagement to a new level by leveraging the features of blockchain technology. This, of course, is not Snoop Dogg’s first foray into NFTs, as the rapper has remained considerably active in the space over the years, even becoming a prominent figure in the development and endorsement of many NFTs and crypto-related ventures.
Notably, the Snoop Dogg Passport Series was conceived as a collaboration between Denver-based NFT development studio Transient Labs and talent agency WME. Although the full supply of the passport has not been announced, each NFT is available for approximately $42 or 0.025 ETH via NFT payment processor Crossmint or transacting with a crypto wallet.
As the world of finance increasingly migrates towards digital currencies, two major jurisdictions, Hong Kong and the U.S., are poised to implement regulatory frameworks for stablecoins within their respective economies.
Navigating the complexities of digital currencies, these financial behemoths aim to balance innovation with risk mitigation, showcasing contrasting strategies for fostering growth and ensuring protection within their borders.
The chief executive of stablecoin issuer Circle is urging the United States to maintain the competitiveness of the dollar by creating clear guidelines for stablecoins.
During the U.S. House Financial Services Committee’s latest hearing on stablecoin legislation, Jeremy Allaire says the stakes are too high to ignore and that the US must ensure the dollar is the most competitive fiat currency on the internet.
Access to dollars is not only about America’s economic competitiveness and international stature, but also about deepening the role of the dollar as a store of value and reliable medium of exchange in a global economy powered by smart devices and software. Digital dollars should freely and widely circulate on the internet for all lawful uses.”
In a major blow to Tesla, Mercedes-Benz has become the first carmaker to be given permission to sell or lease its auto-driven vehicles to the public in California, which is Tesla’s largest market.
The California Department of Motor Vehicles (DMV) has approved the luxury automobile company’s SAE Level 3 Drive Pilot system on designated highways and under certain conditions without the active control of a human driver, said the state agency in a press release.
Mercedes-Benz is the fourth company to receive an autonomous vehicle deployment permit in California and the first authorized to sell or lease vehicles with an automated driving system. A deployment permit authorizes a company to make its autonomous technology commercially available outside of a testing program.
Mercedes-Benz and Microsoft are partnering to test in-car ChatGPT artificial intelligence, available to more than 900,000 vehicles in the U.S., the companies announced Thursday.
The luxury automaker said the emerging technology will be used for audio requests through its Hey Mercedes voice assistant, which is expected to greatly expand the system's capabilities. It is the first implementation of ChatGPT in a vehicle, according to a Microsoft spokesperson.
Crypto exchange Bybit is integrating a ChatGPT-based artificial intelligence (AI) tool in its trading platform to automate market data analysis.
The new feature, called ToolsGPT, is an AI chatbot that users can query for "technical analysis, backtested price data, and other essential metrics," the firm said in a press release on Thursday. For example, Bybit traders will be able to analyze future price trends based on past data and technical indicators using the tool.
Scientists have created synthetic human embryos using stem cells, in a groundbreaking advance that sidesteps the need for eggs or sperm.
Scientists say these model embryos, which resemble those in the earliest stages of human development, could provide a crucial window on the impact of genetic disorders and the biological causes of recurrent miscarriage.
However, the work also raises serious ethical and legal issues as the lab-grown entities fall outside current legislation in the UK and most other countries.
The structures do not have a beating heart or the beginnings of a brain, but include cells that would typically go on to form the placenta, yolk sac and the embryo itself.
“These new results are both compelling and biologically fascinating. bit.bio's opti-ox approach seems to remove interfering sources of stochasticity, thereby enabling deterministic reprogramming of iPSCs into somatic cells of any lineage. The homogeneity achieved by opti-ox is amazing, and I would never have thought such a high level of control over differentiation was possible. This is a true disruptive innovation in stem cell biology, much as CRISPR has been for genetics.”
bit.bio is an integral partner within the Cambridge Stem Cell community, where they have pushed the boundaries of what the field thought was possible with regards to consistent differentiation of human stem cells. From what I have seen, the data are astonishing. If this can be generalised to other cell types, these data will be seen as a landslide moment for the human stem cell field, which demonstrate that it is possible to industrialise the manufacture of human cells.”
Brazil’s executive branch has designated the country’s Central Bank and its Securities Commission as responsible for overseeing the crypto market, according to a decree published on Wednesday.
The Securities Commission will exercise control over assets considered securities, while the Central Bank will determine the rules that exchanges must follow, including licensing requirements to operate, the decree detailed, finance news outlet InfoMoney reported.
Brazilian digital bank Nubank, Latin America’s biggest fintech company, will invest up to a further 700 billion pesos ($159 million) in its Colombian operations by 2025, its financial director for Colombia said on Wednesday.
Nubank, the largest Brazilian digital bank, reached the mark of 1 million active users in Mexico, just one month after launching its savings accounts product in the country. The bank will also launch a Mexican debit card for customers to withdraw cash from ATMs.
Colombia's central bank, Banco de la República, has partnered with blockchain firm Ripple to explore the use of blockchain technology.
According to Ripple, Banco de la República, in conjunction with the Ministry for the Information and Communications Technologies (MinTIC), will pilot Ripple's CBDC platform to improve its high-value payments system. The initiative is part of a blockchain experimentation phase conducted by MinTIC.
Demand for tether (USDT) in Turkey has been high since early May despite an ongoing crackdown on crypto assets around the world, Bloomberg noted. While the prices of major cryptocurrencies are falling, the Turkish lira has fared even worse, the report points out.
With the lira having lost 80% of its value since the previous election in 2018, it’s down 20% against the dollar in 2023 alone, Turks have been turning to crypto assets, especially stablecoins like the U.S dollar-pegged tether. According to data from Kaiko, lira transactions peaked in May at 18% and accounted for 10% of total crypto trading volumes in early June.
Student-athletes from around the world will get the chance to use China’s digital yuan in July, with the CBDC put to use at the Summer World University Games in Chengdu.
Per the Chinese media outlet The Cover, the games will become the first “major international sports event” to “officially use the digital yuan following the Beijing Winter Olympics.”
Burisma Energy Accountant, Who Blew Whistle on Biden Bribery Scheme, Found Dead
Now, 20 new countries are reportedly set to apply to join the BRICS alliance. Indeed, the number is reportedly continuing to increase, according to Russian official Sergey Ryabkov. Interstingly, how those countries are seen by the alliance will largely determine how they factor into the bloc’s expansion plans set to be enacted this summer.
Chinese President Xi Jinping and Russian President Vladimir Putin are convincing developing nations to accept the soon-to-be-released BRICS currency. Therefore, the expansion of the alliance could soon become a reality making the bloc more financially secure and stable.
BRICS sees Europe as a competitor but also a potential investor that can open up avenues for the new currency. Europe is the gateway for BRICS to capture the Western markets and usher in a new financial era. If Europe accepts the soon-to-be-released BRICS currency, it could make the U.S. dollar lose its global reserve status. The supply and demand mechanics will fail to keep the U.S. dollar alive sending it on a path of decline.
According to French media reports, French President Emmanuel Macron has asked South African President Cyril Ramaphosa for an invitation to the BRICS Summit scheduled for August.
The New Development Bank, also known as the BRICS bank, has received a formal application from the government of Honduras to be part of the financial institution.
Kenya’s President William Ruto delivered a speech calling for African countries to ditch the U.S. dollar for international trade. The speech was met with applause from lawmakers as the country seeks to join BRICS and accept the new currency. Ruto mentioned that Kenya “has no reason” to pay with the U.S. dollar for trade between African nations. He stressed that their local currency, the Kenyan Shilling, should be the preferred tender for cross-border transactions.
Saudi Arabia’s Ministry of Investment has signed a $5.6 billion deal with Chinese electric car maker Human Horizons. The two will collaborate on the development, manufacture, and sale of vehicles. This is according to a statement by the Saudi state news agency. The new agreement may also strengthen Saudi Arabia and Chinese relations as the middle eastern nation looks to join BRICS.
Pakistan has paid for its first government-to-government import of Russian oil in the Chinese yuan. Moreover, the development has seen the country take yet another step toward ditching the US dollar in international trade settlements.
the bank has argued that the Virgin Islands government was actually “complicit” in Epstein’s criminal activities. And a legal brief filed by JP Morgan on Thursday offers chilling evidence of this.
Said legal brief shows Cecile de Jongh, who served as first lady of the Virgin Islands from 2007 to 2015, actively aided Epstein in carrying out his sex trafficking ring within the U.S. territory. It includes a string of email communications between de Jongh and Epstein as evidence of this. In emails from 2011 (three years after Epstein pleaded guilty to soliciting prostitution of a minor), de Jongh appears to consult Epstein for his approval on proposed sex offender legislation in the Virgin Islands. The legal brief filed by the bank also shows de Jongh helped Epstein’s victims receive visas and English-language classes.
Further, JP Morgan notes that de Jongh worked for Epstein since at least 2000 (before becoming first lady in 2007) and was on his payroll with an annual salary of more than $100,000 for running his business operations on the islands and helping him maintain positive relationships with Virgin Islands law enforcement. De Jongh also reportedly solicited political donations from Epstein to her husband, former Gov. John Percy de Jongh Jr.
As recently as December 2014, de Jongh wrote in an email to Epstein, “It is important to me that you know that I take this job, my management of your team and our implementation of your requests very seriously and that they be done in the most confidential of ways.”
The former first lady of the U.S. Virgin Islands helped Jeffrey Epstein’s victims get visas and lined up English-language classes for them, facilitating his alleged sex-trafficking scheme, JPMorgan Chase said in a new court filing.
originally posted by: RookQueen
a reply to: RelSciHistItSufi
This man will be piloting you craft so I'd better find out if Andrew Lincolin had a stunt double........
Tesla got a carve-out.
It’s a good day for auto dealers in the Sunshine State, and not so great for motorists who’d prefer a more direct route for buying a new coupe, sedan or SUV.
Gov. Ron DeSantis signed a measure (HB 637) Tuesday banning most direct-to-consumer vehicle sales, solidifying the future viability of car-selling operations across the Sunshine State.
Anonymous ID: pGukiFmX No.147581516 📁
Nov 1 2017 23:57:23 (EST)
They are the true Patriots. We will never forget. Let these coming days be remembered in our history as the time we fought to recapture the republic from those evil bad actors who for so long have sacrificed the good people of this land for their own personal gain.
Fight the good fight.
LET JUSTICE BE SERVED.
Anonymous ID: ac1ea3 No.139691 📁
Dec 21 2017 11:42:17 (EST)
Trip entered but not showing.
Q
Anonymous ID: pGukiFmX No.147586045 📁
Nov 2 2017 00:48:52 (EST)
Four carriers & escorts in the pacific?
Why is that relevant?
To prevent other state actors from attempting to harm us during this transition? Russia / China?
Or conversely all for NK? Or all three.
Think logically about the timing of everything happening.
Note increased military movement.
Note NG deployments starting tomorrow.
Note false flags.
Follow Huma.
Prepare messages of reassurance based on what was dropped here to spread on different platforms.
The calm before the storm.