An international financial watchdog group based in France is urging stronger global actions against the risks associated with crypto assets. In a newly published study , the International Financial Action Task Force (FATF) – established in 1989 to promote policies that protect the global financial system – says that stronger actions are needed by crypto service providers to ensure safety. According to FATF, while virtual asset service providers (VASPs) overall have made headway in terms of developing anti-money laundering protocols, progress still needs to be made on this front, highlighting the challenges associated with overseas providers. “Progress has been made in jurisdictions requiring licensing and registration of VASPs. Nevertheless, further progress is required in licensing and registration in practice and jurisdictions continue to face difficulties in identifying natural or legal persons that conduct VASP activities. Jurisdictions have reported challenges with mitigating the risk of offshore VASPs, with more than a third of jurisdictions with a licensing or registration framework applying a more extensive approach and requiring offshore VASPs (that are not created or located in their jurisdictions) to also be licensed/registered.” According to FATF, many jurisdictions are in the process of creating “travel rules,” or rules set in place to ensure the transparency of cross-border crypto transfers. “Jurisdictions have made progress on implementing the Travel Rule. For the 2025 survey, 73% of respondents (85 of 117 jurisdictions, excluding those that prohibit or plan to prohibit VASPs explicitly) have passed legislation implementing the Travel Rule… Jurisdictions that have not yet introduced legislation or regulation to implement the Travel Rule should urgently do so [while] jurisdictions that have introduced the Travel Rule should rapidly operationalize it, including through effective supervision and enforcement in case of non-compliance.” FATF concludes by noting that since digital assets are international by nature, a regulatory failure in one jurisdiction, such as North Korea, can have severe global consequences. “The DPRK this year carried out the largest single VA theft in history, stealing $1.46 billion from the VASP ByBit. Only 3.8% of the stolen funds have been recovered, highlighting the need to address asset recovery challenges and improve international cooperation.” Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post International Financial Action Task Force (FATF) Urges Global Action on Crypto Risks appeared first on The Daily Hodl .
BitcoinWorld Unprecedented: Germany’s Critical DeepSeek AI Ban Ignites EU Data Privacy Debate In an era increasingly defined by digital interactions and the pervasive influence of artificial intelligence, the protection of personal data has become a paramount concern. For many in the cryptocurrency and blockchain space, the principles of decentralization and user control over data resonate deeply. It is against this backdrop that Germany’s recent directive to tech giants Apple and Google to remove the Chinese AI app, DeepSeek, from their national app stores sends a significant ripple through the global tech landscape. This move, rooted in stringent EU data privacy laws, underscores a growing global tension between technological innovation and national sovereignty over digital information. It’s not just about an app; it’s about setting a precedent for how nations, particularly in Europe, intend to safeguard their citizens’ data in the face of cross-border data transfer challenges and the rise of powerful AI technologies. Why the DeepSeek AI Ban? Unpacking Germany’s Concerns The core of Germany’s decisive action against DeepSeek AI lies in fundamental concerns over data protection and national security. Meike Kamp, Germany’s data protection commissioner, publicly stated that DeepSeek failed to provide “convincing evidence” that it adequately protected user data as mandated by European Union laws. This is not a trivial accusation; it strikes at the heart of the EU’s robust regulatory framework designed to protect individual privacy. The primary apprehension stems from DeepSeek’s operational base and ownership in China. German authorities, echoing sentiments from other EU nations, highlighted that Chinese laws grant their government far-reaching access rights to personal data held by companies within their jurisdiction. This creates an inherent conflict with the EU’s strict data protection standards, which demand that data transferred outside the bloc receives a level of protection “essentially equivalent” to that within the EU. Lack of Transparency: DeepSeek reportedly did not offer sufficient assurances regarding its data handling practices. Jurisdictional Conflict: Chinese national security laws potentially compel companies to share data with authorities, overriding user consent or privacy safeguards. Precedent from Italy: Italy had already banned DeepSeek earlier in the year for similar data protection concerns, signaling a coordinated European stance. This DeepSeek AI Ban is a clear message: adherence to EU data protection principles is non-negotiable for any entity operating within its borders, regardless of its origin or technological sophistication. Understanding the Bedrock of EU Data Privacy: GDPR and Beyond To fully grasp the gravity of Germany’s action, one must delve into the comprehensive framework of EU Data Privacy regulations, primarily the General Data Protection Regulation (GDPR). Enacted in 2018, GDPR is arguably the world’s strictest data protection law, setting a global benchmark for how personal data is collected, processed, and stored. Its extraterritorial reach means it applies to any organization, anywhere in the world, that processes the personal data of EU citizens. Key principles of GDPR relevant to the DeepSeek case include: GDPR Principle Relevance to DeepSeek Lawfulness, Fairness, and Transparency Data processing must be lawful, fair to the individual, and transparent about how data is used. DeepSeek’s lack of convincing evidence suggested a breach of transparency. Purpose Limitation Data collected for specified, explicit, and legitimate purposes. Concerns arise if data is accessible by foreign governments for undisclosed purposes. Data Minimization Only necessary data should be collected. The scope of DeepSeek’s data collection was a concern. Storage Limitation Data should not be kept longer than necessary. Integrity and Confidentiality Data must be processed in a manner that ensures appropriate security, including protection against unauthorized or unlawful processing and against accidental loss, destruction, or damage. This is where the core issue of Chinese government access comes into play. Crucially, GDPR Chapter V (Articles 44-50) specifically governs Cross-Border Data Transfer . It stipulates that personal data may only be transferred outside the EU if adequate safeguards are in place. These safeguards include: Adequacy Decisions: The European Commission determines if a non-EU country offers an adequate level of data protection. China does not currently have such a decision with the EU. Standard Contractual Clauses (SCCs): Legally binding contracts between data exporters and importers, ensuring data protection. Binding Corporate Rules (BCRs): Internal rules for multinational companies for transfers within their corporate group. Derogations: Specific exceptions for certain situations, which are generally very limited. The landmark Schrems II ruling by the European Court of Justice further tightened these rules, emphasizing that even with SCCs, organizations must verify that the laws of the recipient country do not undermine the protections offered by the SCCs. This ruling directly impacts companies transferring data to jurisdictions like China, where state access to data is mandated by law. The Implications of AI App Removal: A Ripple Effect Germany’s directive for AI App Removal extends far beyond DeepSeek itself. It sends a strong signal to the global technology industry, particularly to developers and providers of artificial intelligence services, that compliance with EU regulations is paramount for market access. The implications are multi-faceted: For Users: While potentially restricting access to certain AI services, this move aims to enhance user trust and data security. It empowers consumers by ensuring their personal information is not subject to foreign government surveillance or misuse. For Apple and Google: The directive places these tech giants in a challenging position. As gatekeepers of the app ecosystem, they are tasked with enforcing national and regional regulations. Their response will set a precedent for how platform providers navigate conflicts between global reach and local legal frameworks. Failure to comply could lead to significant fines and reputational damage. For AI Developers and Startups: This incident serves as a stark reminder that innovation must go hand-in-hand with robust compliance. AI companies, especially those dealing with personal data, must prioritize legal counsel and invest in understanding the complex tapestry of international data protection laws. It may necessitate regionalizing data storage and processing, potentially increasing operational costs but ensuring market access. For Chinese Tech Companies: The DeepSeek AI ban highlights the increasing scrutiny faced by Chinese tech firms operating in Western markets. Concerns over state influence and data access are likely to intensify, potentially leading to more barriers to entry or requirements for significant structural changes to comply with foreign regulations. This could accelerate a trend towards a more fragmented global internet. The removal of DeepSeek AI could also catalyze further regulatory actions across Europe and other jurisdictions, prompting a re-evaluation of how AI models, especially generative AI, handle and process user data across international borders. Navigating Cross-Border Data Transfer: A Global Challenge The DeepSeek case epitomizes the complex and often contentious issue of Cross-Border Data Transfer in the digital age. As data flows seamlessly across national boundaries, legal frameworks often struggle to keep pace, leading to conflicts of law and jurisdiction. The EU’s stance, reinforced by Germany’s action, reflects a broader global trend where nations are increasingly asserting their Digital Sovereignty . Consider the varying approaches to data governance globally: EU Model (GDPR): Strict, rights-based, emphasizing individual control and high standards for international transfers. US Model: Sector-specific, generally more industry-led, with less comprehensive federal privacy laws, though states like California are leading with stricter rules. Chinese Model: State-centric, with significant government oversight and access to data for national security and surveillance purposes. This divergence creates significant challenges for multinational corporations and global digital services. Companies must navigate a labyrinth of regulations, often leading to increased compliance costs, operational complexities, and the need for localized data centers or processing capabilities. For AI models that rely on vast datasets, the inability to freely transfer data globally can impede development and deployment, potentially leading to a bifurcation of AI capabilities along geopolitical lines. The debate around cross-border data transfer is not merely legal; it is geopolitical, economic, and ethical. It touches upon national security, trade relations, and the fundamental rights of individuals in the digital realm. As AI becomes more integrated into daily life, the rules governing its data flows will increasingly shape global power dynamics. The Future of AI Regulation Europe and Digital Sovereignty Germany’s move against DeepSeek AI is a significant marker in the ongoing evolution of AI Regulation Europe . It signals a proactive and firm approach by European regulators to ensure that AI development and deployment align with European values, particularly privacy and fundamental rights. This incident comes amidst the finalization of the EU AI Act, which aims to be the world’s first comprehensive legal framework for artificial intelligence. The EU AI Act categorizes AI systems by risk level, imposing stricter requirements on high-risk AI applications. While the AI Act focuses on the safety and ethical implications of AI, it inherently relies on robust data governance, making it intrinsically linked to GDPR and cross-border data transfer rules. The DeepSeek case highlights that even before the AI Act fully comes into force, existing data privacy laws are being vigorously applied to manage AI’s impact. The pursuit of Digital Sovereignty is a driving force behind these regulatory efforts. European nations aim to reduce their reliance on foreign tech giants and data infrastructure, fostering a more independent and secure digital ecosystem. This involves: Data Localization: Encouraging or mandating that data generated by EU citizens be stored and processed within the EU. Development of European Tech Champions: Supporting homegrown AI and cloud computing companies. Strengthening Regulatory Enforcement: Demonstrating a willingness to enforce existing laws with significant penalties. The implications for the broader generative AI market are profound. Companies developing large language models or other AI applications that collect user data must now seriously consider their data architecture, privacy policies, and compliance strategies, especially if they aim to operate in the lucrative European market. The era of ‘move fast and break things’ without regard for data privacy is unequivocally over in Europe. Actionable Insights for Businesses and Users For businesses operating globally, particularly those in the AI and tech sectors, the DeepSeek AI ban offers crucial lessons and actionable insights: Prioritize Data Governance: Conduct thorough data audits to understand where personal data is stored, processed, and transferred. Map out all data flows. Understand Regional Regulations: Do not assume a one-size-fits-all approach to data privacy. Invest in legal expertise to navigate GDPR, CCPA, and other evolving global privacy laws. Implement Robust Safeguards: Ensure technical and organizational measures are in place to protect data. For cross-border transfers, utilize approved mechanisms like SCCs and regularly assess their effectiveness in light of local laws. Transparency is Key: Be clear and comprehensive in privacy policies, explaining to users how their data is collected, used, and protected, especially regarding international transfers. Consider Localized Infrastructure: For sensitive applications or those targeting specific regions, consider deploying localized data centers and processing capabilities to minimize cross-border data transfer risks. Engage with Regulators: Proactively seek guidance from data protection authorities if unsure about compliance requirements. For individual users, this incident highlights the importance of digital literacy and vigilance: Read Privacy Policies: Understand what data apps collect and where it goes. Review App Permissions: Grant only necessary permissions to apps. Be Mindful of Origin: While not a definitive indicator, understanding where an app is developed and operated can inform your privacy risk assessment. Advocate for Stronger Privacy: Support policies and organizations that champion robust data protection laws. A Precedent-Setting Stance in the Digital Age Germany’s order to remove DeepSeek AI from app stores is more than just a regulatory action against a single app; it is a powerful statement about the future of data privacy and AI regulation in Europe and, by extension, globally. It solidifies the EU’s unwavering commitment to its stringent data protection standards, even when faced with the complexities of global AI development and cross-border data transfer. This DeepSeek AI Ban serves as a critical reminder that while artificial intelligence offers immense potential, its deployment must always respect fundamental rights and adhere to the rule of law. As nations increasingly assert their Digital Sovereignty , we can expect more such decisive actions, shaping a future where technological advancement is inextricably linked with ethical considerations and robust regulatory oversight. This ongoing saga underscores the crucial need for transparency, accountability, and user-centric design in the rapidly evolving world of AI. To learn more about the latest AI Regulation Europe trends, explore our article on key developments shaping AI models’ features and institutional adoption. This post Unprecedented: Germany’s Critical DeepSeek AI Ban Ignites EU Data Privacy Debate first appeared on BitcoinWorld and is written by Editorial Team
Robinhood has broadened its crypto services by introducing micro futures contracts for Bitcoin, Solana, and XRP, enabling traders to engage with derivatives at lower capital thresholds. This strategic move complements
US President Donald Trump has reacted strongly to Canada's decision to impose a digital services tax on American technology companies. In a statement on Truth Social today, Trump said, “We are terminating all trade negotiations with Canada immediately.” Trump accused Canada of carrying out a “clear and brazen attack” on American technology firms by imitating the European Union. The tariff decision suddenly put long-standing trade relations with Canada, a close U.S. ally, at risk. Related News: List of the Most Discussed Words in the Cryptocurrency Community in the Last 24 Hours Published - Two Altcoins Are Trending “We will notify Canada within the next seven days of the tariffs they will have to pay to trade with the United States,” Trump said, adding that the country has been imposing tariffs of up to 400% on dairy products on American farmers for years. According to the Office of the US Trade Representative, the volume of goods trade between the two countries was approximately $762 billion last year. With this new development, economic balances in North America are expected to be shaken. *This is not investment advice. Continue Reading: JUST IN: Donald Trump Does It Again, Delivers Another Surprise on Tariffs
Hasbulla’s BULLA token has experienced a remarkable 50% price surge, yet skepticism about its legitimacy continues to dominate the crypto community. The token’s volatile price history, marked by sharp declines
Bitcoin’s price is at a pivotal moment, with prediction markets showing increasing bullish sentiment despite technical indicators urging caution. Investor confidence is bolstered by Bitcoin’s dominance in the crypto market,
What’s next for the price of Bitcoin? Prediction markets show growing bullish sentiment despite technical indicators suggesting caution.
Robinhood continues to expand its crypto services offering with micro futures contracts on leading assets.
BitcoinWorld Bitcoin ETFs: Calamos Launches Revolutionary Protection Funds Are you an investor intrigued by the potential of Bitcoin but wary of its notorious volatility? The wait for a more structured approach to digital asset investing might finally be over. Calamos Investments, a prominent U.S. asset management firm, is set to revolutionize how investors gain exposure to cryptocurrencies with the launch of three innovative Bitcoin ETFs . These new funds promise a unique blend of upside potential and crucial downside protection, marking a significant step forward in the institutional adoption of digital assets. Understanding the New Era of Bitcoin ETFs On July 8, Calamos will introduce three distinct Bitcoin-structured ETFs: CBOY, CBXY, and CBTY. These aren’t your typical spot Bitcoin ETFs. Instead, they fall under the category of ‘defined outcome’ ETFs, designed to offer investors a predictable range of returns over a specific period. This structure is particularly appealing for those seeking to participate in Bitcoin’s growth while mitigating some of its inherent risks. CBOY, CBXY, and CBTY: Each ticker represents a unique level of downside protection, allowing investors to choose the risk profile that best suits their financial goals. One-Year Protection Period: The downside protection is offered over a defined one-year period, providing clarity and a structured investment horizon. Annual Reset Feature: At the end of each year, the ETFs will reset, establishing new upside caps and downside protection levels based on market conditions, offering continuous adaptability. The Innovative Approach of Calamos Investments This strategic move by Calamos Investments highlights a growing trend among traditional financial institutions to cater to the increasing demand for regulated and sophisticated crypto investment vehicles. Unlike direct Bitcoin ownership, these ETFs provide a wrapper that simplifies access for traditional brokerage accounts and offers a layer of professional management. The management of these groundbreaking funds will be overseen by Co-CIO Eli Pars and the dedicated Alternatives Team at Calamos. Their expertise in managing complex financial products is expected to provide robust oversight and strategic adjustments, ensuring the ETFs align with their stated objectives of offering defined outcomes. Why Crypto Protection is a Game Changer For many potential investors, the wild price swings of Bitcoin have been a significant deterrent. The concept of crypto protection embedded within these ETFs directly addresses this concern. By offering varying levels of downside protection, Calamos aims to attract a broader audience, including risk-averse investors, institutional clients, and financial advisors looking for more stable ways to allocate capital to the digital asset space. This innovative structure provides a sense of security, allowing investors to participate in Bitcoin’s potential appreciation without the constant fear of sudden, significant losses. It’s a bridge between the high-growth potential of cryptocurrencies and the risk management principles common in traditional finance. Navigating the Upside Caps in Defined Outcome ETFs While the downside protection is a major draw, it’s crucial for investors to understand the trade-off: the ETFs come with defined upside caps. This means that while you’re protected from significant losses beyond a certain point, your potential gains are also limited. These caps are set at the beginning of each one-year period and reset annually. This characteristic is fundamental to all defined outcome ETFs . They are designed to offer a known range of potential returns, making them suitable for investors who prioritize predictable outcomes over unlimited upside potential. It’s about managing expectations and providing a more controlled investment experience in a notoriously volatile market. The Future of Digital Asset Investing The launch of these Calamos ETFs signifies a maturing landscape for digital asset investing . It reflects a growing sophistication in product development, moving beyond simple spot exposure to more nuanced, risk-managed strategies. As more traditional firms enter the space with diverse offerings, it paves the way for greater institutional adoption and wider accessibility for retail investors. This evolution is critical for integrating cryptocurrencies into mainstream investment portfolios, offering investors more choices and tailored solutions to meet their unique risk tolerances and financial objectives. It underscores the long-term viability and increasing legitimacy of digital assets as a recognized asset class. Conclusion: A New Horizon for Bitcoin Exposure Calamos Investments’ forthcoming launch of CBOY, CBXY, and CBTY on July 8 marks a pivotal moment for the cryptocurrency investment landscape. By offering defined downside protection coupled with upside caps, these innovative Bitcoin ETFs provide a compelling option for investors seeking a more controlled and predictable way to gain exposure to the world’s leading digital asset. This move not only expands the accessibility of Bitcoin but also sets a new standard for risk-managed investment products in the evolving digital asset ecosystem. It’s an exciting development that promises to reshape how many approach their crypto portfolios. To learn more about the latest Bitcoin ETFs and digital asset investing trends, explore our article on key developments shaping Bitcoin institutional adoption. This post Bitcoin ETFs: Calamos Launches Revolutionary Protection Funds first appeared on BitcoinWorld and is written by Editorial Team
The post Bitcoin Price Analysis: Low Speculative Urgency Signals More Pain In the Midterm appeared first on Coinpedia Fintech News Bitcoin (BTC) price has experienced faded bullish sentiment in the recent past as traders factor in external factors led by the Middle East crisis and the U.S.-led trade wars. The flagship coin has struggled to rally beyond $108k in the weekly timeframe, thus signaling possible midterm weakness. Although institutional investors, led by Strategy and Metaplanet , have continued to relentlessly accumulate more BTCs, market data shows the appetite for long exposure has faded over time. According to market data from Glassnode, Bitcoin’s spot volume has hovered at around $7.7 billion in the recent past, far below the prior peaks. Why Traders Are Cautious About Bitcoin Price Consolidation Bitcoin price has failed to record similar bullish gains as Gold (XAUUSD) in the past few months despite the U.S. dollar losing around 10 percent in value since President Donald Trump took office earlier this year. The short-term market uncertainty caused by the sharp differences between the Federal Reserve and the government of the day on Interest rates has reduced the overall BTC speculation. According to Aksel Kibar , a popular classical chart trader, the BTC price has gradually formed a potential head and shoulders (H&S) pattern in the weekly timeframe. Although the buyers have been attempting to push higher in the recent past, Kibar highlighted that BTC price must consistently close above $109k in the weekly timeframe to confirm bullish momentum. With the poor performance of the trade negotiations between the United States and other nations led by Canada, Japan, and the European Union, the BTC price faces a midterm bearish outlook. As Coinpedia reported, BTC price is likely to retest $92k before reaching $120k in the near term.