Countries deadlocked on plastic production and chemicals as talks on a global treaty draw to a close
A draft of the treaty released Wednesday wouldn't limit plastic production or address chemicals used in plastic products. Instead, it's centered on proposals where there's broad agreement — such as reducing the number of problematic plastic products that often enter the environment and are difficult to recycle, promoting the redesign of plastic products so they can be recycled and reused, and improving waste management.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
13 minutes ago
- Yahoo
Eli Lilly raises UK price of obesity drug by up to 170% after Trump ‘freeloading' gripe
Eli Lilly has raised the UK price of its popular weight-loss drug Mounjaro by as much as 170 per cent, as it tries to address complaints by Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13 minutes ago
- Yahoo
Crypto exchanges should block users from cashing out tokens with low ‘compliance scores,' BIS researchers say
In a new paper, researchers at the Bank for International Settlements proposed a solution to a problem that has long bedeviled the crypto industry: how to enforce money laundering regulations on permissionless blockchains. Blockchains' key attribute — their permissionless nature — has long been their greatest weakness, according to sceptics in public policy circles. Just like surfing the web, transacting on a blockchain is open to anyone with an internet connection, no signup required. Blockchains promise to level the financial playing field and 'bank the unbanked.' But they have also frightened lawmakers who believe the absence of regulated middlemen will turbocharge money laundering. In a paper published Wednesday, BIS researchers proposed scoring individuals' crypto holdings based on their transfer history. The BIS is the Switzerland-based global forum of central banks, and it has often looked askance at crypto, warning it could undermine financial stability and regulators' attempts to police financial markets. Crypto that had passed through the wallets of suspected criminals or through protocols often used to launder stolen funds could receive a lower score. Each country could set a threshold score that would determine whether the user could convert that crypto into fiat currency. The paper's authors called their proposal 'an alternative approach to AML compliance in permissionless blockchains which utilises the very features that make them impervious to traditional approaches.' While the paper seeks to find a middle ground that satisfies lawmakers while preserving the very features that make blockchains special, it is likely to receive a cool reception from many in the libertarian-leaning industry, who chafe at the notion that governments should impose any restrictions on financial transactions. 'BIS doesn't grok why [we're interested in] crypto,' Kathleen Tyson, a former attorney at the Federal Reserve Bank of New York, wrote on X. 'No one ever asked for KYC/AML/CTF state surveillance.' AML compliance scores In traditional finance, anti-money laundering efforts fall on intermediaries, such as banks. And regulators have been keen to turn some crypto developers into intermediaries, by forcing them to collect user information and monitor user accounts. But there are clear limits to this approach, according to the paper's authors. In most blockchains, the 'intermediary' — the person or people responsible for updating account balances — is a distributed network of computers known as validators. This creates a problem for regulators who want to impose on blockchains traditional methods of combatting money laundering: No single validator can be held accountable for account updates. Moreover, most blockchains are permissionless by design. That is, they are open networks accessible by anyone with an internet connection. But there's a hitch: most people use intermediaries to access blockchains, namely crypto exchanges such as Coinbase and Binance. These on- and off-ramps could form the basis of a novel anti-money laundering paradigm, according to BIS researchers. 'As the full history of transactions on the blockchain is publicly available, it could inform an assessment of how closely a particular unit of a cryptoasset is associated with past or current illicit activity,' they write. 'A diagnostic 'AML compliance score' could be referenced … when cryptoassets (including stablecoins) are presented for conversion to fiat currency at the 'off-ramps' – notably, at the point of contact with the banking system.' Implications In such a system, when someone attempts to convert a token to fiat using a crypto exchange, the exchange could scan the token's history to see whether it had passed through suspect wallets. 'At one end, the strongest form of AML compliance would require off-ramps to accept tokens for conversion only if they have passed through addresses that have met KYC compliance checks – i.e. wallets that are on an 'allow list,'' the researchers write. 'At the other end of the spectrum, a permissive form of AML compliance is to check whether a coin has passed through an address known to be associated with illicit activity – i.e. on a deny list.' Tokens would be assigned a score based on their transfer history. If they failed to achieve a certain score, the exchange would deny the conversion request. 'While some users may reasonably claim to have received a tainted token in good faith if information on illicit use is scarce, such an argument would be less persuasive if there were widespread and affordable compliance service providers,' according to the researchers. This could have several implications for blockchains. 'For instance, stablecoins that had passed through wallets with a chequered history could trade at a higher discount relative to others with no such history,' the researchers write. Aleks Gilbert is DL News' New York-based DeFi reporter. You can reach him at aleks@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Alexander Isak 'on strike' as Newcastle has new scenario for Liverpool sale
Alexander Isak is reportedly on strike as he looks to force a summer transfer to Liverpool, and Newcastle United is weighing up a fresh scenario before the new Premier League season starts. Newcastle head coach Eddie Howe is keeping Isak away from the rest of the squad due to his conduct, and recently admitted that the transfer saga hasn't been healthy for the club. Liverpool bid $148 million for Isak earlier this summer and is waiting to see if Newcastle will entertain a sale before submitting a new offer. While Newcastle does not wish to sell its prized asset, who is contracted through 2028, Isak has made it clear that he doesn't want to play for the club again. According to the Daily Mail, Newcastle may be forced to play Anthony Gordon at center-forward until January, and Isak may be sold if Yoane Wissa joins the club from Brentford. READ MORE: Alexander Isak could be given transfer lifeline thanks to PSG READ MORE: Liverpool transfer news LIVE: Giovanni Leoni deal confirmed, Guehi 'staying', Isak latest Isak is one of the best strikers in the world, and Newcastle is under no contractual pressure to sell. However, his conduct means that he is a depreciating asset, and while Newcastle has the wealthiest owners in the Premier League, maximum value is essential when considering profit and sustainability rules. However, Newcastle needs to sign a replacement before selling Isak, and Howe is keen to add two strikers to the roster. Newcastle released veteran forward Callum Wilson this summer and has struggled to sign a center-forward after missing out on Hugo Ekitike, Liam Delap, and Benjamin Sesko. Newcastle must sign at least one striker before allowing Isak to leave, and Wissa is the priority. Howe plans to play Wissa and Gordon in the attack and integrate new signing, Anthony Elanga. Newcastle has also reached an agreement with Aston Villa for attacking midfielder Jacob Ramsey, and the club will now focus on a deal for Wissa. Brentford manager Keith Andrews has confirmed that Wissa will miss the season opener against Nottingham Forest on Sunday due to transfer interest. Brentford is demanding $54 million for the 28-year-old, who scored 19 Premier League goals last season. Discussions are ongoing, but Howe is keen to lift the mood at Newcastle following Isak's removal. "I don't think it's been healthy for us," Howe said to the BBC. "I don't deny that's been a big challenge. Alex, for me, is one of the best strikers in the world - if not the best. To miss him from your squad leaves a huge gap." "I think morale was certainly affected early on during pre-season," he added. "There was nothing I could do to affect that - it was always going to be there. "When you have a player that good who is not part of your group, it's difficult for the players to fully understand it and to know what's going on and how to react. But, as time has gone on, there has been an acceptance this is the squad and we have got to make the best of the situation. "That's always been my train of thought. Whatever situation you're in, you have got to find a way, and you can only control what you can control. We have moved forward, and I've got to say the atmosphere of the group has been very good in the last couple of weeks." Howe also said he was happy with the squad, but admitted that there was room for improvement. "I'm still hoping for more (signings). I think we need more. We have got some big gaps within the squad still."
