EU Unveils ‘Simpler’ Digital Rules and New Business Wallets

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The European Commission has unveiled a sweeping new digital package that includes fintech, AI, data, and cybersecurity changes.

The initiative, described by officials as a cornerstone of Europe’s digital competitiveness strategy, is projected to save businesses billions of euros while reshaping how companies operate across borders in the single market. The EC says it’s designed to drastically cut administrative burdens, simplify compliance, and accelerate technological innovation across the European Union.

The package, announced today (November 19), includes a far-reaching digital omnibus that streamlines existing legislation on AI, data, and cybersecurity; a new Data Union Strategy intended to boost access to high-quality datasets; and a proposal for European Business Wallets, a unified digital identity ...