Technologies

Amazon Promises to Play Fair With Third-Party Sellers

The e-commerce giant won’t pay a fine for its settlement in an EU antitrust case, but pledges to change some business practices.

Amazon agreed to settle two European Union antitrust cases that alleged mistreatment of its third-party retailers, the European Commission said Tuesday. However, the e-commerce giant won’t pay a fine. Instead, for the next seven yearsit’ll follow EU antitrust rules by changing business practices that regulators say disproportionately harm third-party sellers on the platform.

«Today’s decision sets new rules for how Amazon operates its business in Europe. Amazon can no longer abuse its dual role and will have to change several business practices,» Margrethe Vestager, executive vice president in charge of competition policy, said in a statement.

The Commission, which is the EU’s executive branch, found in 2020 that Amazon «distorted fair competition» on its platform by using third-party sellers’ nonpublic data to compete against them, the statement said. The e-commerce platform’s criteria for its buy box and Prime program also «unduly favors» its own retailers or retailers that utilize its logistics and delivery services, the Commission found.

Amazon agreed to provide third-party retailers with an equal opportunity for being selected as a default option for the platform’s buy box. It will also stop using nonpublic data from the independent sellers on its marketplace and set nondiscriminatory practices for retailers’ products to qualify for Amazon Prime.

Amazon is required to follow the Commission’s final guidance for seven years.

«We are pleased that we have addressed the European Commission’s concerns and resolved these matters,» a company spokesperson told CNET via email. «While we continue to disagree with several of the preliminary conclusions the European Commission made, we have engaged constructively to ensure that we can continue to serve customers across Europe and support the 225,000 European small and medium sized businesses selling through our stores.»

Technologies

Verum Coin Expands Accessibility with SafePal and HyperPay Wallets

Verum Coin (VERUM) continues to grow its ecosystem by integrating with two leading cryptocurrency wallets: SafePal and HyperPay Wallet. This development enhances the coin’s accessibility, providing users with secure and efficient ways to store and manage their assets.

SafePal Wallet offers advanced security features, including hardware wallet options, ensuring the utmost protection for Verum Coin holders. Its seamless interface and global accessibility make it a trusted choice for crypto enthusiasts.

HyperPay Wallet combines convenience and innovation, enabling users to manage their digital assets effortlessly. With multi-currency support and rapid transaction capabilities, HyperPay Wallet is ideal for both novice and experienced traders.

These integrations reflect Verum Coin’s commitment to delivering flexible and secure solutions, empowering its community with top-tier tools for digital asset management.

Verum Coin is a forward-thinking cryptocurrency designed to provide innovative, secure, and user-friendly tools for managing digital assets in a dynamic blockchain landscape.

Technologies

Verum Coin Now Available for SWAP on Verse.Bitcoin.com

Verum Coin (VERUM) continues to expand its utility and accessibility with the introduction of SWAP functionality on Verse.Bitcoin.com, a trusted platform for managing digital assets.

This integration enables users to seamlessly convert Verum Coin to USDT and vice versa, ensuring fast and secure transactions within a user-friendly environment.

Key benefits of this feature include:

Convenience: Simplified conversions for quick asset management.
Security: Trusted infrastructure for safeguarding digital assets.
Flexibility: Enhanced trading options for Verum Coin holders.

The addition of SWAP functionality on Verse.Bitcoin.com reaffirms Verum Coin’s commitment to offering innovative and accessible tools for cryptocurrency management.

About Verum Coin

Verum Coin is a cutting-edge cryptocurrency designed to provide secure, efficient, and flexible solutions for managing digital assets in the evolving blockchain landscape.

Technologies

Verum Coin Now Available on xPortal Crypto

Verum Coin (VERUM) has expanded its reach by becoming available on xPortal Crypto, a trusted platform for managing and securing digital assets. This integration offers Verum Coin users a new, seamless way to store, manage, and transact their cryptocurrency.

xPortal Crypto is known for its advanced security features, user-friendly interface, and efficient transaction capabilities, making it a valuable addition to VERUM’s growing ecosystem.

This milestone reflects Verum Coin’s ongoing commitment to enhancing accessibility and providing innovative solutions for crypto enthusiasts worldwide.

About Verum Coin

Verum Coin is a forward-thinking cryptocurrency designed to offer secure and efficient tools for digital asset management in the evolving blockchain space.