EU Unveils New Payment, AI Rules; Spain Urged to Protect Open Internet
The European Commission has unveiled its proposals for new directives on payment services, electronic money services, and related regulations. Presented on September 27, 2023, these proposals aim to foster innovation, competition, and consumer trust in the digital realm. Meanwhile, Spain, as the current EU Council President, has been urged to prioritize protecting the open internet and reject network fees.
The EU is pushing for a risk-based approach to artificial intelligence (AI), aiming to harness its benefits while avoiding obstacles to innovation. The Commission emphasizes the need for EU digital policies to deliver innovation, openness, and flexibility that meet the expectations of today's Europeans.
In the realm of payments and open finance, the EU is encouraging innovation and competition through updated rules. These rules aim to boost consumer trust in sharing financial data. To ensure the effectiveness of the Digital Markets Act, sufficient resources and proportionate measures are deemed necessary.
As the world of work evolves, the EU is looking to adapt its social and employment policies. The goal is to preserve high-quality, flexible independent work. In the AI Act, clearer definitions and narrow classifications are sought to avoid blanket obligations on general-purpose AI systems.
Consumer habits and needs are rapidly changing, driving a more user-focused approach to EU digital policies. Network fees, which threaten net neutrality principles, are seen as a potential hindrance to Europe's digital economy. The Commission is exploring ways to allow platforms to provide insurance and protection, improving working conditions while maintaining consumer protections.
The European Commission's proposals for new directives on payment services and related regulations aim to foster innovation and consumer trust. Spain's EU Council Presidency is urged to protect the open internet and reject network fees. The EU is adopting a risk-based approach to AI and adapting its policies to a changing world, with a focus on preserving high-quality, flexible independent work and maintaining consumer protections.
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