Following Directive 2011/83/EU, Porsche created a new precedent in the NFT world by excluding the 14-day return policy from the contract terms on their first NFT collection. The European Parliament and Council’s Directive 2011/83/EU of October 25, 2011, on Consumer Rights, has ruled in Article 9, I that “Save where the exceptions provided for in Article 16 apply, the consumer shall have a period of 14 days to withdraw from a distance or off-premises contract, without giving any reason, and without incurring any costs other than those provided for in Article 13(2) and Article 14.”

FTX's collapse may have added fuel for those seeking stricter crypto rules, but even the good guys may get it wrong, financial services commissioner Mairead McGuinness told CoinDesk.

The European Union’s landmark crypto regulation, Markets in Crypto Assets (MiCA), won’t see a final vote in the European Parliament until April, stalling the process for the new rules to be enforced. 

Starting with a pilot phase in 2023, every member state must by 2024 offer citizens a Digital ID Wallet that can be used throughout the EU.

Financial service behemoth PayPal has announced expanding its crypto service to Luxembourg soon in its first foray into the European Union (EU).

A recent attempt by the&nbsp;European Commission’s foreign aid department to get young people excited about the EU with a virtual party in the <a href="https://zycrypto.com/metaverse-market-size-to-grow-by-107-06-billion-by-2027-asia-pacific-region-to-lead-report/">metaverse</a> backfired after only five attendees showed up.

This is in large part an amendment to AML (Anti-Money Laundering) rules that were drafted last year and would further tighten the screws on privacy-based projects.