Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»TRADING NEWS»European Union unveils global benchmarks for AI regulation
TRADING NEWS

European Union unveils global benchmarks for AI regulation

By Crypto FlexsFebruary 3, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
European Union unveils global benchmarks for AI regulation
Share
Facebook Twitter LinkedIn Pinterest Email

The European Union (EU) has set a precedent by introducing AI law that focuses on high-risk areas of the use of AI technologies.

The bill, praised as “historic” by EU Commissioner Thierry Breton, will introduce a risk-based approach to AI oversight.

The bill adopts a risk-based approach focusing on high-risk areas, such as the government’s use of AI for biometric surveillance. It also throws a regulatory net over ChatGPT and similar systems, requiring transparency before they can be brought to market. The landmark vote follows a December 2023 political agreement and caps months of careful textual coordination for legislative approval.

This agreement means that negotiations will be concluded through a vote by permanent representatives of all EU member states on February 2nd.

This important step sets the stage for the bill to progress through the legislative process, including a vote in a pivotal committee of EU lawmakers scheduled for February 13 and an expected vote in the European Parliament in March or April.

AI law’s approach revolves around the principle that the higher the risk of an AI application, the greater the liability of its developers. This principle is important in important areas such as employment and educational admissions.

Margrethe Vestager, Executive Vice President of the European Commission for a Europe fit for the digital age, emphasized that the focus is on high-risk cases to ensure that the development and deployment of AI technologies is in line with the EU’s values ​​and standards.

Meanwhile, the AI ​​Act is expected to come into effect in 2026, with certain provisions scheduled to come into effect earlier to facilitate the gradual integration of the new regulatory framework.

The European Commission actively supports the EU’s AI ecosystem beyond establishing a regulatory foundation. These efforts include the creation of an AI Secretariat responsible for monitoring compliance with the law, with a particular focus on high-impact underlying models that present systemic risks.

The EU’s AI law is first A comprehensive AI law that aims to regulate the use of artificial intelligence in the EU, ensuring better conditions for deployment, protecting individuals and promoting trust in AI systems.

The bill provides a clear and easy-to-understand approach to regulating AI based on four levels of risk. This will be implemented through national competent market surveillance authorities, with the support of the European AI Secretariat within the European Commission.

“Historical, world-first, pioneering… ”

that much #AI Act It aroused great passion… Yes!

All 27 member states today approved the political agreement reached in December, acknowledging the perfect balance negotiators found between innovation and safety.

ME stands for AI!🇪🇺 pic.twitter.com/dPNeOpLBnT

— Thierry Breton (@ThierryBreton) February 2, 2024

Stricter cryptocurrency regulations

The EU has proposed classifying cryptocurrencies as financial instruments and imposing stricter regulations on non-EU cryptocurrency companies. This new proposal will help curb unfair competition and standardize regulations for cryptocurrency companies operating within the EU.

The proposed measures include restrictions on non-EU cryptocurrency companies serving customers in the bloc, in line with existing EU financial laws that require foreign companies to establish branches or subsidiaries within the EU.

Additionally, the European Securities and Markets Authority (ESMA) introduced a second set of guidelines to regulate non-EU-based cryptocurrency companies, emphasizing the importance of regulatory clarity and investor protection.

The EU’s move is part of a broader plan to establish regulatory clarity in the cryptocurrency sector, protect investors and foster the growth of cryptocurrency services within the EU.

Follow us on Google News

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Next Binance Coin (BNB) Price Rally 3 Catalysts that can supply fuel

September 24, 2025

Buying NFT is like buying a Mickey Mouse T -shirt and an IP.

September 23, 2025

In the CFTC crackdown, OKX’s perps dex lunch stops: What is the following?

September 22, 2025
Add A Comment

Comments are closed.

Recent Posts

ChainUp Wins Top Crypto Compliance Technology Honor At Thomson Reuters-Presented Awards

September 24, 2025

Fitell Corporation Launches Solana (SOL) Digital Asset Treasury With $100M Financing Facility, With Focus On Yield And On-Chain DeFi Innovation

September 24, 2025

Nebeus Overfunds Equity Crowdfunding Campaign With €3.6M Raised, Reflecting Growing Demand For Regulated Crypto–Finance Solutions

September 24, 2025

Next Binance Coin (BNB) Price Rally 3 Catalysts that can supply fuel

September 24, 2025

Ether Leeum World Fair Announcement

September 24, 2025

SOL Leverage Longs Jump Ship, is it $ 200 next?

September 24, 2025

Navigating Policy & Regulation in Blockchain

September 23, 2025

Flipster Debuts Market’s First USD1 Perps For BTC, ETH, SOL, XRP, And DOGE

September 23, 2025

BYDFi Joins Korea Blockchain Week 2025 (KBW2025): Deepening Web3 Engagement

September 23, 2025

MEXC Brings Immersive Experience With ‘0 Fee Lounge’ To Token2049

September 23, 2025

Moonbirds And Azuki IP Coming To Verse8 As AI-Native Game Platform Integrates With Story

September 23, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

ChainUp Wins Top Crypto Compliance Technology Honor At Thomson Reuters-Presented Awards

September 24, 2025

Fitell Corporation Launches Solana (SOL) Digital Asset Treasury With $100M Financing Facility, With Focus On Yield And On-Chain DeFi Innovation

September 24, 2025

Nebeus Overfunds Equity Crowdfunding Campaign With €3.6M Raised, Reflecting Growing Demand For Regulated Crypto–Finance Solutions

September 24, 2025
Most Popular

Bitcoin Plunges Below $55,000 Amid Jump Crypto Movement and US Election Uncertainty, Ether Drops Below $2,400

August 5, 2024

Coinbase Violation: The attacker requires a ransom of $ 20 million

May 17, 2025

Decoding a Crypto Analyst’s Bold XRP 800% Rally Prediction

December 18, 2023
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.