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French Government Faces $17 Billion Loss Following Pavel Durov's Arrest📢
🇫🇷French Government Faces $17 Billion Loss Following Pavel Durov's Arrest..
😱In a shocking turn of events, the French government has reported a staggering $17 billion financial loss, following the recent arrest of Pavel Durov, the Russian entrepreneur and founder of Telegram. This incident, which has sent ripples through the global financial and tech sectors, stems from a series of complex financial maneuvers and investment missteps linked to Durov’s business dealings.
Durov's arrest has raised significant concerns among investors and regulators, particularly regarding the security and stability of investments tied to his ventures. The French government's substantial financial loss is attributed to exposure in various high-stakes investments, including technology and cryptocurrency sectors where Durov had substantial influence. The fallout has triggered a re-evaluation of risk management strategies and investment protocols among European financial institutions.This development underscores the volatile nature of the tech and crypto markets, and highlights the critical importance of due diligence and robust financial oversight. The French government is now faced with the challenging task of mitigating the impact of this unprecedented loss and reassessing its financial and investment strategies to prevent future occurrences. As the situation unfolds, the broader financial community remains on high alert.#French #PavelDurov #CryptoNewssCommunity #VOTEme
😱In a shocking turn of events, the French government has reported a staggering $17 billion financial loss, following the recent arrest of Pavel Durov, the Russian entrepreneur and founder of Telegram. This incident, which has sent ripples through the global financial and tech sectors, stems from a series of complex financial maneuvers and investment missteps linked to Durov’s business dealings.
Durov's arrest has raised significant concerns among investors and regulators, particularly regarding the security and stability of investments tied to his ventures. The French government's substantial financial loss is attributed to exposure in various high-stakes investments, including technology and cryptocurrency sectors where Durov had substantial influence. The fallout has triggered a re-evaluation of risk management strategies and investment protocols among European financial institutions.This development underscores the volatile nature of the tech and crypto markets, and highlights the critical importance of due diligence and robust financial oversight. The French government is now faced with the challenging task of mitigating the impact of this unprecedented loss and reassessing its financial and investment strategies to prevent future occurrences. As the situation unfolds, the broader financial community remains on high alert.#French #PavelDurov #CryptoNewssCommunity #VOTEme
France Bans Influencers From Direct And Indirect Promotion Of Cryptocurrency
The French parliament has been making moves to regulate the cryptocurrency industry in the country, with a bill that will require cryptocurrency companies to register with regulators from January 2022. However, it seems that France is not stopping there in its efforts to regulate the industry, as a new amendment has been agreed upon to ban influencers from advertising cryptocurrency.
According to reports, the Economic Committee of the French National Assembly agreed to the amendment, which will ban influencer direct and indirect promotion of cryptocurrency without permission. This move is seen as part of the country’s strict regulation of the industry, despite being positive towards it.
It is worth noting that currently, there is not a single cryptocurrency company officially licensed by the French financial authorities, effectively banning influencers from promoting cryptocurrency altogether. The bill will go into effect after getting the consent of the Senate and the House of Representatives.
The bill requiring cryptocurrency companies to register with regulators from January next year was passed earlier this year, with 109 votes in favor and 71 against. The registration process will include proof of compliance with governance and anti-money laundering regulations.
The main objective of the bill is to force French cryptocurrency companies to acquire cryptocurrency operator licenses until the announcement of MiCA, a cryptocurrency regulation that covers the entire European Union, by the end of 2024.
French senator Herve Maury, who is part of the French Finance Committee, explained the purpose of the bill, stating that “French cryptocurrency companies have to obtain licenses before October of this year, but no one has done so.” This means that local cryptocurrency companies that are not registered with the French Financial Markets Authority (AMF) will have to obtain a license from 2024.
As the regulation of the cryptocurrency industry becomes more important around the world, it is likely that more countries will follow in France’s footsteps in making strict laws for related regulations.
#French #MiCA #crypto2023 #BTC #azcoinnews
This article was republished from azcoinnews.com
According to reports, the Economic Committee of the French National Assembly agreed to the amendment, which will ban influencer direct and indirect promotion of cryptocurrency without permission. This move is seen as part of the country’s strict regulation of the industry, despite being positive towards it.
It is worth noting that currently, there is not a single cryptocurrency company officially licensed by the French financial authorities, effectively banning influencers from promoting cryptocurrency altogether. The bill will go into effect after getting the consent of the Senate and the House of Representatives.
The bill requiring cryptocurrency companies to register with regulators from January next year was passed earlier this year, with 109 votes in favor and 71 against. The registration process will include proof of compliance with governance and anti-money laundering regulations.
The main objective of the bill is to force French cryptocurrency companies to acquire cryptocurrency operator licenses until the announcement of MiCA, a cryptocurrency regulation that covers the entire European Union, by the end of 2024.
French senator Herve Maury, who is part of the French Finance Committee, explained the purpose of the bill, stating that “French cryptocurrency companies have to obtain licenses before October of this year, but no one has done so.” This means that local cryptocurrency companies that are not registered with the French Financial Markets Authority (AMF) will have to obtain a license from 2024.
As the regulation of the cryptocurrency industry becomes more important around the world, it is likely that more countries will follow in France’s footsteps in making strict laws for related regulations.
#French #MiCA #crypto2023 #BTC #azcoinnews
This article was republished from azcoinnews.com
French President Emmanuel Macron Dismisses ‘False Information’ on Pavel Durov’s Arrest; ‘It Is in No Way a Political Decision’
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Emmanuel Macron, President of France, has disregarded what he qualified as “false information” regarding the arrest of Telegram CEO Pavel Durov. In a social media post, Macron stressed that the arrest was part of an investigation carried out by the judiciary and that it was “in no way a political decision,” as some reports claimed.
Emmanuel Macron, President of France, has clarified his responsibility in the recent arrest of Pavel Durov, founder and CEO of Telegram, a popular messaging and content distribution app. Macron took to social media to disregard what he called “false information” regarding the legal actions exerted against Durov and his involvement in this process.
Macron reinforced that the arrest was part of an investigation led by the country’s judiciary and that he played no part in it. He declared:
Macron explained that in a state under the rule of law, that’s how these processes progress. Macron stresses that freedoms were upheld under a legal framework to protect citizens and respect their fundamental rights.
Furthermore, he concluded by stating that France was “deeply committed to freedom of expression and communication, to innovation, and to the spirit of entrepreneurship,” and that it would remain so.
Macron’s statements were received with incredulity by some cryptocurrency industry members. Chris Pavlovski, CEO of Rumble, an online video distribution platform facing the French state in court, blasted Macron’s take after leaving Europe.
#TelegramCEO #PavelDurov #French #CryptoNews $TON $BTC $BNB
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Emmanuel Macron, President of France, has disregarded what he qualified as “false information” regarding the arrest of Telegram CEO Pavel Durov. In a social media post, Macron stressed that the arrest was part of an investigation carried out by the judiciary and that it was “in no way a political decision,” as some reports claimed.
Emmanuel Macron, President of France, has clarified his responsibility in the recent arrest of Pavel Durov, founder and CEO of Telegram, a popular messaging and content distribution app. Macron took to social media to disregard what he called “false information” regarding the legal actions exerted against Durov and his involvement in this process.
Macron reinforced that the arrest was part of an investigation led by the country’s judiciary and that he played no part in it. He declared:
Macron explained that in a state under the rule of law, that’s how these processes progress. Macron stresses that freedoms were upheld under a legal framework to protect citizens and respect their fundamental rights.
Furthermore, he concluded by stating that France was “deeply committed to freedom of expression and communication, to innovation, and to the spirit of entrepreneurship,” and that it would remain so.
Macron’s statements were received with incredulity by some cryptocurrency industry members. Chris Pavlovski, CEO of Rumble, an online video distribution platform facing the French state in court, blasted Macron’s take after leaving Europe.
#TelegramCEO #PavelDurov #French #CryptoNews $TON $BTC $BNB
Nvidia Faces Data Theft Allegations from Valeo. 💻🇫🇷
Nvidia, known for its advancements in artificial intelligence, is now embroiled in a legal battle with Valeo, a French automotive technology company. The dispute revolves around allegations of data theft by a former Nvidia employee.
Accusations by Valeo:
Valeo claims that Nvidia's senior executive, Muhammed Müniruzzaman, engaged in data theft while working for the company in Germany in 2021. The alleged theft was unveiled during a video meeting between Nvidia and Valeo executives in 2022, where Müniruzzaman inadvertently shared Valeo's proprietary software source code.
Data Transfer and Screenshots:
During the video meeting, Müniruzzaman left an application open, revealing Valeo's source code. Valeo employees took screenshots, accusing the ex-employee of transferring gigabytes of data to Nvidia. The incident came to light in September 2023 when Müniruzzaman confessed to the crime during a statement to German authorities.
Financial Implications:
Valeo asserts that Nvidia used the stolen data to enhance its parking and driving assistance software. The French company claims Nvidia saved millions of dollars by incorporating Valeo's code, creating a rival product.
Legal Actions:
Valeo has filed a lawsuit against Nvidia in California, seeking significant damages. Additionally, Valeo is requesting a court order prohibiting Nvidia and its subsidiaries from using Valeo's code.
Nvidia's Response:
As of now, Nvidia has not released an official statement regarding the allegations. The confession from a former high-ranking employee may pose significant challenges for Nvidia's defense.
#Nvidia #Valeo #French #France
Nvidia, known for its advancements in artificial intelligence, is now embroiled in a legal battle with Valeo, a French automotive technology company. The dispute revolves around allegations of data theft by a former Nvidia employee.
Accusations by Valeo:
Valeo claims that Nvidia's senior executive, Muhammed Müniruzzaman, engaged in data theft while working for the company in Germany in 2021. The alleged theft was unveiled during a video meeting between Nvidia and Valeo executives in 2022, where Müniruzzaman inadvertently shared Valeo's proprietary software source code.
Data Transfer and Screenshots:
During the video meeting, Müniruzzaman left an application open, revealing Valeo's source code. Valeo employees took screenshots, accusing the ex-employee of transferring gigabytes of data to Nvidia. The incident came to light in September 2023 when Müniruzzaman confessed to the crime during a statement to German authorities.
Financial Implications:
Valeo asserts that Nvidia used the stolen data to enhance its parking and driving assistance software. The French company claims Nvidia saved millions of dollars by incorporating Valeo's code, creating a rival product.
Legal Actions:
Valeo has filed a lawsuit against Nvidia in California, seeking significant damages. Additionally, Valeo is requesting a court order prohibiting Nvidia and its subsidiaries from using Valeo's code.
Nvidia's Response:
As of now, Nvidia has not released an official statement regarding the allegations. The confession from a former high-ranking employee may pose significant challenges for Nvidia's defense.
#Nvidia #Valeo #French #France