European parliamentarians from the Green Party and socialist representatives propose to reform the law on Cryptoactive Markets, better known as the MiCA Law, to include non-fungible tokens (NFT) within the new regulatory framework, since the regulation does not contemplate issues related to digital collectibles.

The intention of the legislators, in reforming the regulation, is to incorporate NFT buying and selling platforms so that they can be regulated and protected “against money laundering (AML) in the European Union.”

According to what is expressed in the documentation presented by the group of legislators, it is necessary to consider it because “the regulations of the MiCA Law are designed to be complied with by service providers with cryptocurrencies.”

Assembly members also believe that it is important to regulate “decentralized autonomous organizations (DAO) and towards hardware wallets or cold purses.” The current legislation maintains “that the transfers made by the owners of the wallets with the exchanges must be notified to the regulatory entities.”

As will be recalled, the MiCA law was recently agreed by European negotiators with the fundamental purpose of “regulating issuers and service providers with crypto assets.” However, the new law must be sanctioned by the Committee on Economic and Monetary Affairs, with a full vote, and once it is approved, its general implementation in the eurozone will begin 18 months after it comes into force.

M. Rodríguez

Click the link to subscribe free to our news and media group on Telegram: https://t.me/G_ELSUMARIO_News

Source: noticiasdebariloche.com.ar

La entrada European Parliament proposes to reform the MiCA law apareció primero en Bitfinance.

European countries and legislators in Parliament have agreed to adopt a universal charger for smartphones, tablets and wearable devices starting in the fall of 2024.

The standard establishes that all devices will have a USB-C port with the purpose of “limiting the toxic waste of thousands and thousands of cables of various formats, and defending the right of consumers, forced for now, to accumulate various chargers.“

Thierry Breton, European Commissioner for Industry, stressed that the agreement was reached after nine months of negotiations, which in his opinion means “that we can move quickly when there is a political disposition.” He also indicated that the general interest of the European Union has prevailed.

The legal agreement must be formally ratified by the European Parliament, as well as by the 27 states of the block, before it can enter into force.

Sustainable products for the EU

In an official statement, the European Parliament explained that these legal regulations are part of a broad effort being made by the eurozone to obtain more “sustainable” products, reduce electronic waste and make life easier for consumers.

With the use of the universal charger, users will not need different cables to charge their new devices since they can use the same charger for all “small and medium portable electronic equipment.”

The Parliament also highlighted that the charging speed will be “harmonized for devices that support fast charging, allowing users to charge their devices at the same speed with any compatible charger”.

For his part, MEP Andrey Kovatchev indicated that the regulations will make life easier for consumers in the eurozone and improve the environment. “It’s time to put an end to the bundles of cables that we all have in our drawers, and reduce about 11,000 tons of electronic waste per year,” he affirmed.

The figures that the EU manages indicate that they “spend a total of about 2,400 million euros (about 2,800 million dollars) annually on cables and adapters to charge their mobile devices.”

Defeat for Apple

When the project was presented, the technological giant Apple presented its disagreement, saying that it was “hugely disproportionate to any problem that could be perceived”, in addition to limiting the “options of European consumers by removing older and cheaper models from the market”. The company defends its lightning connection and charging technology.

For 2009, the European Commission promoted agreements with technology companies to voluntarily adopt the reduction of cables. however, it failed to convince Apple. The company considers that the “adoption of a single charger is a brake on innovation.”

With the approval of the norm, MEP Alex Agius Saliba assured that the law must be applied equally to all, therefore “If Apple (…) or any other wants to market its products, abd sell them in our internal market, it will have to follow the rules and their device must have a USB-C port,” he said.

M. Rodríguez

Click the link to subscribe to our news and media group on Telegram: https://t.me/G_ELSUMARIO_Noticias

Source: france24.com

La entrada EU establishes universal charger for mobile devices apareció primero en Bitfinance.

The National Integrated Tax and Customs Administration Service (Seniat) explained that transactions carried out through payment gateways such as Zelle, PayPal, Reserve and other similar ones will be taxed by the Tax on Large Financial Transactions (IGTF in Spanish) because they are carried out without the intervention of the Venezuelan financial system.

The General Manager of Legal Services of the Seniat, Carlos Ernesto Padrón Rocca, spoke about the direct consultation of Edwuard Rafael Sucre Guzmán, inspection manager of the tax authority, related to the most common doubts that arise around the reform of the Income Tax. the Large Financial Transactions (IGTF). The new tax imposes a 3 % tax on payments with foreign currency and cryptoactives other than the petro.

The document was cited by different accounts through the instant messaging social network Twitter and although the measure directly impacts the consumer, who must pay more to use foreign currency, the businesses are the ones that have to adapt to this new tax mechanism.

Businesses are “going through a torment” to be able to collect the tax, because they must adapt their systems and that has some technical implications. In addition, the lack of information and the “gaps in the regulation” did not allow businesses to fix their systems before the tax came into effect.

All this situation has caused that 75 % of the companies in the commercial sector do not have the capacity to collect the tax in dollars. According to data provided by the National Council for Commerce and Services (Consecomercio).

Limitations for the collection of the IGTF

Tiziana Polesel, president of Consecomercio, highlighted that the main limitation that merchants are experiencing in collecting the tax is the impossibility of replacing or updating the fiscal machines, in order to be able to reflect the amount of the IGTF on the invoice.

According to Polesel, solving this situation requires a significant investment that many businesses, especially small ones, are not able to do in “a short time”. “They do not even have the possibility of resorting to loans,” she stressed.

The president of Consecomercio highlighted: “We are convinced that we must correct it. We have to understand how the sector works and what the weaknesses are in order to incorporate this contribution. We are not denying compliance, we are just asking for more time to make it work.“

The representative of the commercial sector highlighted that there is the possibility of an “increasing degree of informality, since businesses that cannot comply with the regulations will not stop operating but will migrate to that unregulated market that even affects the State, since VAT would not be paid either”.

M. Rodríguez

Source: primicia.com.ve

La entrada Transactions with Zelle, PayPal and Reserve must pay the IGTF tax apareció primero en Bitfinance.