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EU Parliament’s Internal Market Committee Seeks to Reduce Dependency on Other Countries With Metaverse Strategy

"Europe cannot afford to lag behind in the next digital revolution nor can we repeat past mistakes," said Pablo Arias Echeverría, the rapporteur shepherding the initiative through the parliament. "As we step into Web 4.0 with the development of virtual worlds, we have to lay a foundation, rooted in strong

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Greece establishes AI advisory committee to create national strategy

Greek Prime Minister Kryiakos Mitsotakis announced the establishment of an advisory committee to create a national strategy for artificial intelligence (AI) in Greece on Oct. 19.The Greek government said the “exponential pace” of AI development has created the necessity for an advisory committee under the country’s prime minister. The object

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Basel Committee introduces draft guidelines on crypto asset disclosure

The Basel Committee on Banking Supervision has proposed standardized disclosure templates for major banking institutions regarding their crypto asset exposure, aiming for implementation by 2025. The Basel Committee on Banking Supervision (BCBS), an assembly of international banking regulators, unveiled draft guidelines on October 18 for the merge of traditional finance and

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Ad Hoc Committee of FTX.com non-US customers announces successful settlement agreement

The Ad Hoc Committee of Non-US Customers of FTX.com announces the successful execution of a Settlement and Plan Support Agreement (PSA) filed with the U.S. Bankruptcy Court in Delaware.  This PSA, achieved after extensive negotiations with various parties, establishes a framework for a consensus-based reorganization plan. Positive results Earlier in March, the Ad

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Banks Must Disclose Crypto Exposures, Global Regulator Basel Committee Says

Under the proposals, which would take effect in 2025, “banks would be required to disclose qualitative information on their activities related to cryptoassets and quantitative information on exposures to cryptoassets and the related capital and liquidity requirements,” said the committee, which is linked to the Bank for International Settlements, a

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House committee chairman threatens SEC chair with subpoena, but not over crypto

James Comer, chair of the United States House of Representatives Oversight and Accountability Committee, has threatened Securities and Exchange Commission (SEC) chair Gary Gensler with a subpoena. He wrote in the letter dated Oct. 12, that the committee will have “no choice” but to use compulsory measures to obtain documents

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Basel Committee to consider disclosure requirements for banks’ crypto assets

The fallout from the banking crisis earlier this year continues as the Basel Committee on Banking Supervision considers requiring banks to disclose their crypto asset holdings. The committee, which operates under the aegis of the Bank for International Settlements, identified holding crypto as one of the factors that led to

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Kenya’s Parliamentary Committee Calls for Shutdown of Worldcoin

Kenya’s parliamentary committee has advised Kenyan authorities to take action by shutting down Worldcoin’s virtual platforms and conducting a thorough investigation into the company. The iris biometric cryptocurrency project Worldcoin has recently come under the scanner as the parliamentary committee of the government in Kenya is now investigating the project.

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Parliamentary committee calls for shutdown of Worldcoin in Kenya

A parliamentary committee in Kenya’s government tasked with investigating Worldcoin has recommended that regulators shut down the project’s operations in the country.According to a report released on Sept. 30 by Kenya’s parliament, Worldcoin has continued to collect personal data of Kenya’s residents “in total disregard” of an order to stop

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