Yazılar

European Commission says MiCA rules already tackle stablecoin risks

/in /tarafından

The European Commission said on Friday that the EU’s landmark crypto regulation, MiCA, already provides a robust framework to handle risks linked to stablecoins, pushing back against the European Central Bank’s call for stricter safeguards.

Stablecoins—digital tokens tied to fiat currencies like the U.S. dollar or euro—have grown rapidly in recent years, prompting debate over how they should be regulated. While the United States has moved to promote their use, the ECB has warned that some models could threaten financial stability.

At the center of the dispute is whether multinational stablecoin issuers can treat tokens created inside and outside the EU as interchangeable under MiCA’s “multi-issuance” model. In a letter to EU Commissioner Maria Luis Albuquerque this week, six crypto trade groups, including Circle, urged Brussels to clarify that such structures are allowed.

A Commission spokesperson told Reuters that MiCA already provides “a proportionate framework for addressing risks” and said guidance confirming how multi-issuance operates will be published “as soon as possible.”

The ECB’s Systemic Risk Board, chaired by Christine Lagarde, argues that cross-border token issuance could lead to runs on EU reserves if holders outside the bloc attempt to redeem with EU entities during market stress. Stablecoin issuers, however, maintain that adequate reserve management can prevent such instability.

Analysts at J.P. Morgan said this week that 99% of all stablecoins are pegged to the U.S. dollar, noting that the sector’s global expansion could further boost demand for the greenback.

OpenAI warns EU regulators of Big Tech dominance in AI market

/in /tarafından

OpenAI has raised competition concerns with European Union regulators, warning that entrenched tech giants such as Google are using their market power to dominate the fast-growing artificial intelligence sector.

The company confirmed Thursday that its arguments to EU officials last month “mirrored its public positions” on the need to ensure fair competition in AI. During a September 24 meeting with EU antitrust chief Teresa Ribera, OpenAI said it faced major hurdles competing against vertically integrated platforms that control both infrastructure and distribution, according to meeting notes cited by Bloomberg News.

The firm urged regulators to prevent large companies from “locking in users” through their ecosystems — a reference to concerns that firms like Alphabet and Microsoft could tie AI products to existing search, cloud, and software services.

The European Commission has already been investigating how major technology platforms are extending dominance into AI through intercompany agreements and exclusive data access. Neither the Commission nor Google responded to requests for comment.

OpenAI’s outreach to EU authorities comes as it cements its own global influence. Following a secondary share sale last week, the ChatGPT-maker is now valued at $500 billion, making it the world’s most valuable startup with over 800 million weekly users.

Analysts say the move signals that OpenAI wants to shape the regulatory debate in Europe — not only to challenge rivals like Google and Anthropic, but also to secure its place in a market increasingly defined by antitrust scrutiny and AI sovereignty policies.

EU Probes SAP Over Software Practices That May Hinder Competition

/in /tarafından

The European Commission has launched an antitrust investigation into SAP, saying the German software giant’s business practices may have unfairly restricted rivals in the enterprise resource planning (ERP) market.

SAP is the global leader in ERP software, which companies use to manage finance, HR, supply chains, sales, and procurement. The probe focuses on SAP’s aftermarket practices, raising concerns that customers may be locked into its services and face higher costs.

“We are concerned that SAP may have restricted competition in this crucial aftermarket, by making it harder for rivals to compete, leaving European customers with fewer choices and higher costs,” said EU antitrust chief Teresa Ribera.

The investigation leaves SAP exposed to potential fines of up to 10% of its annual global sales.

Reuters previously reported that SAP had offered concessions to ease regulators’ concerns after complaints from European businesses about its ERP policies.

The Commission highlighted several practices under scrutiny:

  • preventing customers from switching to rival support and maintenance providers,

  • blocking customers from ending support for unused licenses,

  • extending initial on-premises ERP license terms to prevent early termination,

  • charging reinstatement and back-maintenance fees when customers return after leaving.

SAP said it does not expect any financial hit from the probe. “We do not anticipate the engagement with the European Commission to result in material impacts on our financial performance,” the company said, while adding that it was working closely with regulators.

SAP defended its policies as being based on long-standing global software standards and compliant with competition rules.