Today in TechREG news, the European Commission will see the results (June 13) of a public consultation on the digital Euro and according to the comments already received, EU citizens may not be thrilled. Amazon suggests sharing data with sellers and boosting the visibility of rivals on its platforms to end EU antitrust investigations.
EU Faces Citizens’ Opposition In Race For Digital Euro
The European Commission will close a public consultation on the digital euro on Tuesday (June 14) after feedback from EU citizens indicated that a central bank digital currency (CBDC) may not be as welcomed as regulators had hoped.
A day before closing the consultation, regulators received 16,299 responses, 98% of those from EU citizens and just 0.3% from companies or 0.03% from business associations. The overwhelming majority of comments from EU citizens show their opposition to the adoption of a digital Euro. Many respondents argue that with a CBDC they would lose privacy in their transactions and the government would have more control over their finances and eventually over their lives.
Apple Complies With Dutch Regulators, Allows Other Payment Methods on Dating Apps
Apple now plans to allow other methods of payment for Dutch dating apps, after intervention from the Netherlands Authority for Consumers and Markets (ACM), a report from ACM said. This will see a change to the old rules, in which customers of dating apps were only able to pay using payment methods imposed by Apple.
ACM said Apple had abused its dominant position — and now dating-app providers will let customers pay in more varieties of ways. ACM’s judgment came with an order subject to periodic penalty payments, totaling 50 million euros.
Australia, EU May Take the Lead in BNPL Regulation
Australia, the European Union, the United Kingdom and the U.S., are a few of the countries that are looking at regulating the Buy Now Pay Later (BNPL) sector. Last year, all these countries announced initiatives that sought to bring these, mostly unregulated products, into a legal framework that could offer more protection to consumers. Unlike in 2021, when the U.S. and the U.K. seemed to lead a regulatory push, Australia and the European Union may be now the countries taking more steps toward designing a new regulatory framework.
Amazon Pushes for End to European Commission Probe with Data Sharing, Rival Boosting
Amazon has offered to share marketplace data with sellers and boost the visibility of rival products on its platform, trying to persuade EU antitrust regulators to close their investigations without a fine by the end of the year, people familiar with the matter told Reuters.
UK Regulator Puts Scandal-Plagued Credit Suisse Under the Microscope
The U.K. Financial Conduct Authority has put Credit Suisse on a watchlist of companies needing tougher supervision, a Financial Times (FT) report said. According to the FCA, Credit Suisse may not have done enough to “improve its culture, governance and risk controls.”
Regulators reportedly thought the bank needed to provide evidence of what it would do to prevent misconduct and improve accountability, along with addressing what it said were “persistent” cultural issues like a lack of internal challenges for risky transactions.
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