The Japanese company Nintendo will comply with the new European Union regulations affecting its products and is ready for a special version of the Switch 2 with a removable battery, which will facilitate battery replacement.

This is precisely what the company must do to adapt to the new European Union rules, which will come into effect on February 18, 2027, and which “require manufacturers of electronic devices to facilitate the removal and replacement of integrated batteries by consumers.”

Although Nintendo has not made an official announcement of the change, it is an agreement to allow users to replace their batteries throughout the product’s lifespan. This will have a direct impact on the Nintendo Switch 2, whose current model is identified by the code BEE-001.

The company has also clarified that “devices currently using model codes beginning with BEE will be replaced in Europe by new versions identified with the OSM nomenclature, which will appear on product packaging.”

But the change or adjustment won’t be limited to the console, as it will also affect “official accessories, including the Joy-Con 2 and the Pro Controller, whose power systems must be made more accessible to facilitate future replacements.”

It’s important to note that European regulations also apply to the use of certain materials considered hazardous, so manufacturers must provide clear information on recycling and responsible disposal.

M.Pino

Source: merca20

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A group of 66 member countries of the World Trade Organization (WTO) agreed on March 28 to a provisional pathway for the Global Agreement on Electronic Commerce, which is currently 70 % complete.

The decision was announced in a statement during the 14th WTO Ministerial Conference (MC14), held in Yaoundé. In this regard, the provisional agreements “will facilitate the entry into force of the Agreement on Electronic Commerce while work continues on its formal incorporation into the WTO legal framework, a process that requires the full consensus of all Members of the organization.”

The initiative was supported by Australia, Japan, Singapore, Canada, China, the United Kingdom, Switzerland, the United Arab Emirates, Costa Rica, Peru, the Philippines, Mauritius, Gambia, the European Union — which participates as a WTO Member — and Argentina, along with other participants in the plurilateral initiative.

The WTO stated that “the Agreement on Electronic Commerce establishes rules that legally recognize digital transactions, facilitate paperless electronic trade and payments, promote interoperability and digital trust, and seek to expand the participation of developing countries in the digital economy.”

The agreement will enter into force for WTO members that complete their internal procedures. After this process, and once ratified by at least 45 countries, “it will begin to be effectively implemented, benefiting businesses, consumers, and developing economies.”

M.Pino

Source: aduananews

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The London Stock Exchange is analyzing the possibility of 24-hour trading in response to demand from investors who wish to trade outside of conventional trading hours.

The organization is evaluating the technological and regulatory aspects involved in a decision like this, which responds to the increase in requests from young investors.

According to the Financial Times, “this measure reflects a growing trend toward modernization driven by younger investors, who prefer to trade via their smartphones.”

According to the LSEG proposal, practical aspects are being considered, including “the technology required to maintain these continuous operations and regulatory implications. In addition, the effects on dual-listed companies and the potential impact on liquidity, which is currently concentrated in the opening and closing auctions of the trading day, will be considered.”

The request is related to the request by US exchanges — the New York Stock Exchange, Nasdaq, and CBOE Global Markets — to the US Securities and Exchange Commission to expand online trading with the approval of a 24-hour exchange called 24X.

For its part, “the Federation of European Stock Exchanges stated that while longer trading windows may attract retail investment, it is still uncertain whether these models will prove sustainable or beneficial in the long term.”

M.Pino

Source: capital.es

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Bank of America recently unveiled a strategy focused on the virtual currency segment, making clear the bank’s desire to launch its own stablecoin.

In this regard, BofA CEO Brian Moynihan confirmed last week that the company is in the process of developing a stablecoin, but is cautious about issues such as the regulatory framework and potential customer demand.

As one of the leading financial institutions in the United States, BofA is adjusting to the new dynamics of the financial market and is preparing “to act when the time is right.”

However, assessments are key, so the bank is still “trying to understand how big or small it is, because in some places there aren’t large movements of money,” said Moynihan.

According to the executive, they are considering launching a stablecoin “in partnership with other companies, and he emphasized that the determining factor will be specific customer demand,” demonstrating that BofA maintains a conservative approach to virtual currencies.

M.Pino

Source: diariobitcoin

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Apple has announced a change in its user policies, which has to do with the possibility of replacing Siri in the European Union with other assistants such as Alexa or Google Assistant.

In this regard, the company has said that users in Europe will be allowed to use another voice assistant instead of Siri, a measure that will allow Apple to comply with the new European Digital Markets Act, “which requires large technology companies to be more open and provide more options to users.”

The change in regulations forces the technology company to abandon its closed and “fully controlled” internal system.

It has been said that the “possibility of using different voice assistants could affect the integration of services like Apple Music, HomeKit, or iCloud, which are designed to work with Siri.” Furthermore, Apple could also “lose some control over how users interact with their devices, although the company continues to maintain high standards of security and user experience.”

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Source: impactonoticias

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Venezuela continues to advance in the application of digital technology in its banking system, where transactions in this modality are at 99.1 %.

The president of the Venezuelan Banking Association, Pedro Pacheco: “We are in an extraordinary moment,” when addressing the issue of new technologies, ethics and regulation.

He argued that although the country is lagging in the technological field, initiatives have been applied to counteract what he considers “a decade of disinvestment.”

Pacheco was optimistic about the digitalization of the banking apparatus, stating that there is “a rebirth and an awareness of the need to catch up” on technological issues and Banking has a fundamental role.

The national banking system “has been making strong progress on issues that we had lagged behind, such as contactless,” he added.

He noted that in June the Superintendency of Banking Sector Institutions (Sudeban) published regulations to regulate the opening of digital bank accounts, as well as electronic contracts, biometric security system, among others.

Pacheco highlighted that in Venezuela, “99.1 % of digital transactions exceed the in-person operation of going to an agency. The (transaction in) agency practically today means less than 1%.”

Regarding financial inclusion, the president of the Venezuelan Banking Association indicated that “84 % of Venezuelans have a bank account. “We are leaders in Latin America when it comes to inclusion and banking.”

It is estimated that by the end of 2024, 70 % of operations will have reached contactless points of sale.

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Source: eldiariodeguayana

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Customers of Bank of America, one of the largest in the United States, could soon have to pay a fee for previously free services if the bank decides to pass on the costs of new regulations from the Consumer Financial Protection Bureau to their accounts to limit overdraft and late payment fees.

According to Marianne Lake, executive director of Consumer & Community Banking (CCB) and member of the JPMorgan Chase Operating Committee, the most affected will be clients who cannot afford to pay these costs.

She added that “the Consumer Financial Protection Bureau proposes an $8 limit for late credit card payments and a $3 limit for overdraft fees.”

Additionally, the agency is considering setting a limit on debit card fees as well as the amount banks can charge companies like Venmo and CashApp to access and use customer data.

Lake stressed that it is very likely that services that users are accustomed to accessing for free, such as their “checking accounts, credit score trackers and planning tools,” will become paid.

M.Pino

Source: revistaeconomia

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Meta is in an extreme situation regarding the operation of WhatsApp in India, its main market, given that the authorities seem to want the elimination of end-to-end encryption.

This is a measure that would affect the privacy of the messaging platform and leave the door open to censorship, controls and cybersecurity risks.

The encryption of messages does not convince the authorities of several countries. As a background in India, it is known that the country wants to eliminate this feature due to the leak of a document “that showed the position of different member countries of the European Union (EU).” In 2021, the Government of India implemented the “Information Technology Rules”, with the aim of eliminating the limitations “that end-to-end encryption poses on access to certain content in the investigation of crimes. Therefore, if they force removing end-to-end encryption, WhatsApp will stop working in India.”

Some countries in the European Union and the United Kingdom have already tried to force the elimination of encryption of WhatsApp messages and communications with new legislation. “In an open letter, 32 European police chiefs recently urged the tech sector to boost security by design and abandon end-to-end encryption because they believe it undermines their ability to investigate serious crimes.”

In any case, if Meta were to withdraw WhatsApp from India, it would lose a significant market share, since it has 500 million users in the country, out of a total of 3 billion globally.

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Source: 20minutos

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The European Commission has announced that iMessage, Apple’s messaging service, and Bing, Microsoft’s search engine, will not be subject to stricter regulation under digital platform regulations.

In addition, two additional Microsoft products, the Edge browser and the Microsoft Advertising advertising system, also benefit from this exemption.

The new EU platform law stipulates that large companies, known as gatekeepers, will be subject to stricter regulatory rules. However, these two specific Microsoft products are excluded from that regulation.

The list of companies identified as “gatekeepers” by the European Commission includes Apple, Microsoft, Alphabet (Google’s parent company), Amazon, ByteDance (TikTok) and Meta (Facebook). These companies are subject to stricter rules.

The complete list includes four social networks (TikTok, Instagram, Facebook and LinkedIn), two messaging systems (WhatsApp and Messenger), three operating systems (Android, iOS and Windows), the Google search engine and the Chrome and Safari browsers.

The Commission announced that it had closed four ongoing investigations into these services.

Both Apple and Microsoft have praised the Commission’s decision. An Apple spokesperson said: “We thank the Commission for agreeing with us that iMessage should not be designated under the Digital Markets Act (DMA).”

For its part, a Microsoft spokesperson said the company will continue to “work with the Commission and the industry at large to ensure that Microsoft’s other designated platforms are fully compliant with the MDL”.

K. Tovar

Source: ElEconomista

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The Canadian Securities Authority (CSA) announced proposed changes to the regulations governing the management of crypto assets by public investment funds. These amendments, which are currently under consideration, aim to restrict the operations of such funds in the field of cryptocurrencies and to establish specific criteria for their custody.

Under the proposal, only AIFs and non-redeemable funds would be allowed to directly acquire, sell or hold crypto assets. The other mutual funds would be able to invest in crypto assets exclusively through these specialised funds. In addition, assets selected for investment must be listed on a stock exchange recognized by a securities regulator in Canada and be fully fungible.

The new provisions also stipulate that assets must be insured and stored in cold purses. An annual review of the custodian’s internal management practices, conducted by a public accountant, will be implemented.

These amendments will be incorporated into National Instrument 81-102 on Investment Funds and its Complementary Policy. It should be noted that a national instrument in Canada represents a regulation or mandate adopted at the provincial and territorial level across the country.

In the words of the CSA: “These measures seek to facilitate the development of new products in the crypto-asset space, ensuring the incorporation of appropriate risk mitigation strategies into the regulatory framework of investment funds.”

These amendments are part of a draft that was announced in July. Proposals will be subject to a 90-day public consultation period, following which a consultation paper will be drafted and a broader regulatory framework for cryptoassets will be assessed.

K. Tovar

Source: Cointelegraph

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