Fighting housing shortage: Airbnb & Co should share more data with authorities to prevent fraud 

Publicerad denFörfattareScoop Editorial

The business of platforms like Airbnb and Booking is booming: more and more private apartments are being rented out online. While this is good for tourists and hosts, it also leads to significant problems in many cities: fraud, housing shortages and rising rents can be the consequences. So far, there is no uniform system for data collection in the EU, which makes it difficult to control and prevent fraud and its negative effects. This is now set to change. Airbnb welcomes the EU’s breach.
Paris, Porto and Vienna: Europe’s major cities are popular travel destinations. Accordingly, many people vacation there. Around a quarter of all overnight stays are now booked via the major online platforms (Airbnb, Booking, Expedia and TripAdvisor). This is because the accommodations offered there are usually cheaper than hotels. This mainly benefits the hosts, platforms and travelers. 
At the same time, it causes immense problems for the cities concerned: lack of tourism taxes, housing shortages and rising rents are the result. This is mainly due to the fact that there is no reliable data on overnight stays. The EU now wants to change that.
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Platforms like Airbnb and booking.com to share data with authorities in future
If the EU Commission has its way, platforms such as Airbnb & Co. should share data with local authorities in the future. Specifically, the following information is to be made available: 

Who is the host?
Where is the accommodation?
How long is the accommodation rented out?

Private individuals who rent out accommodation are to be given a registration number, which is then also publicly available for all to see. This is not only to protect guests, but also to prevent fraud. Unregistered accommodations often lead to the evasion of taxes and tourism levies. The cities then miss out on these taxes when it comes to maintaining and expanding the necessary infrastructure (public transportation, waste disposal, etc.). 
Furthermore, the reporting obligation should contribute to fair competition with other providers such as hotels and youth hostels. In addition, the shared data makes it easier for authorities to manage the crowds in tourism hotspots.
Many cities, many different regulations: Airbnb welcomes EU breach
So far, there is no uniform regulation for the collection of data within the EU. That’s why more and more cities and municipalities are introducing their own. This complicates the business model of the platforms and the further development of the tourism industry. 
In an official statement, Airbnb welcomes the EU’s legislative proposal. This makes it easier to expand cooperation with governments and allows private individuals to rent out their homes without violating applicable rules.
Basically, cities benefit from tourism. Vacationers tend to consume more: they eat out more often, buy souvenirs, and go to the theater or other cultural events. In short, they spend money and that is good for the economy. And, of course, it’s good extra income for anyone who has a vacant apartment or room to rent out. Nevertheless, renting out private apartments in particular can lead to major social problems.
Andreas Schieder, head of the SPÖ-Delegation in the EU-Parliament, wants the new regulation to protect social housing in particular: 
“Short-term accommodation such as Airbnb is now an integral part of the tourism sector. Over the past few years, we have seen an enormous increase and therefore also observe new challenges. Particularly important to me is also the protection of municipal and social housing against misappropriation”.
Rising rents, increasingly expensive restaurants and congested infrastructure
On a random night in 2019, about 1.4 million tourist stayed in a short-term rental apartment. So demand is high. The lack of data and the resulting difficulty in regulation can lead to profound problem in the worst case. Among them, the following: 

Rising rents and less housing: it is often more profitable for landlords:inside to offer apartments as short-term accommodation. They earn more money that way. However, this reduces the supply of housing for the people who live there. 
Overloaded infrastructure: The large number of tourists overloads public transportation and strains waste disposal, since neither is designed for large numbers.
Changed cityscape: There are entire streets or blocks of houses that consist only of Airbnb apartments. 
Burdens for residents: The constantly changing residents can become a burden for neighbours. For example, through noise or the additional garbage that is created.

EU directive comes into force in 2025 at the earliest
Before the regulation on data collection and exchange comes into force, the EU Commission, the EU Parliament and the individual member states must first agree on a compromise. This so-called “trilogue” is to take place this year. After that, the EU member states will have two years – until 2025 at the latest – to implement the new regulations. Läs mer…

EU adopts the World’s first Regulation on Cryptocurrencies

Publicerad denFörfattareScoop Editorial

The EU-Parliament passed a law to regulate cryptocurrencies like Bitcoin more strongly. The new regulation will protect consumers from losses, and it will make money laundering and terrorist financing more difficult. In addition, providers are to be held liable in the event of massive losses. With the new law, Europe wants to end the “wild west of the blockchain world”.
On 20 April, the EU-Parliament passed the so-called “Regulation on Markets in Crypto Assets” (MiCA) with a large majority. Until now, it was possible to trade cryptocurrencies largely anonymously. Bitcoin & Co. are therefore popular with money launderers and fraudsters. This is now to come to an end.
Crypto exchanges will be subject to national supervisory authorities
Insider trading and abuse of power are to be made more difficult by the regulation. Service providers and suppliers of crypto-assets must submit to money laundering regulations. In addition, platforms and crypto exchanges will be subject to national supervisory authorities. Those platforms on which cryptocurrencies can be traded must also provide information about the sender and recipient of the transactions.
This is the first law to comprehensively regulate cryptocurrencies such as Bitcoin, Etherum, etc. Evelyn Regner, Vice-President of the EU Parliament, comments on the decision:
“With this law, we are not only creating a model for the regulation of crypto markets, but above all strengthening the protection of consumers and investors and increasing legal certainty for providers.
EU Regulation on Cryptocurrencies makes money laundering and terrorist financing more difficult
At the same time, the regulation ensures that trading with Bitcoin & Co. can be better tracked. Suspicious transactions that are related to money laundering or terrorism, for example, can thus be identified more quickly.
“This is long overdue, because under the guise of innovation, cryptocurrencies are often a convenient way to cover up criminal money flows. A whole 22 billion euros were laundered through crypto assets in 2022. This must now be put to an end,” Regner said.
The regulation is to come into force in stages from 23 June. From July 2024, crypto-assets tied to currencies – so-called stablecoins – will then have to prove larger financial reserves in order to be approved. The complete regulation will then come into force in January 2025 at the latest. The “Wild West of the blockchain world” will thus come to an end, according to European Parliament member Stefan Berger.
Bitcoin mining consumes as much energy as the whole of Austria every year
However, Regner points out that the EU’s regulation on cryptocurrencies is only a first step: “However, not all the work is done with the regulation adopted today, because crypto markets continue to develop rapidly. Therefore, the EU Commission should continue to closely monitor developments in the crypto asset markets and propose further regulation if needed.”
Especially in the area of sustainability, it is imperative to tighten up: “Bitcoin mining alone consumes as much energy annually as the whole of Austria. Therefore, in the future, we will also need minimum standards for sustainability, which have not made it into the regulation for the time being due to considerable resistance from the centre-right.” Läs mer…

EU Pay Transparency: Companies will have to disclose how they pay employees

Publicerad denFörfattareScoop Editorial

Women in the EU continue to be paid less than men. Not only because they tend to work in lower-paid jobs, but also for the same work in the same sector, women are paid less on average than their male colleagues. Most of the time, women don’t even know how much they are paid less because the wages are not publicly visible. This is now to change: The EU Pay Transparency Directive obliges companies to disclose how they pay their employees. This is to uncover and prevent a possible pay gap between men and women.
On 30 March, the EU Parliament adopted new directives in the fight against salary differences between men and women. The regulations oblige EU companies to be transparent about salaries. In future, all salaries paid by a company must be disclosed. This will allow workers to compare their salaries and identify differences. 
In the EU, women still earn on average 13 per cent less per hour than men. However, the gender pay gap varies greatly from country to country: while it is less than 4 per cent in Slovenia, Romania and Luxembourg, the pay gap is highest in Estonia and Latvia, at around 22 per cent. Austria and Germany are right behind with 18.9 and 18.1 percent respectively.
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Gender pay gap has mainly structural causes
The gender pay gap has mainly structural causes, as women in the EU are more often employed part-time and are less likely to hold management positions. On the other hand, they do unpaid care work more often. Professions in which more women tend to work than men, such as nursing, are also less well paid. But even if one disregards these structural causes, the gender pay gap remains: In Germany, for example, women with comparable qualifications in the same industry earn on average six percent less than their male colleagues.
Companies with more than 100 employees must disclose salaries
The pay gap between women and men is to be closed with the new pay transparency guidelines. The guidelines stipulate that all salaries in a company must be disclosed. Companies with more than 100 employees where the pay gap between women and men exceeds 5 percent will have to find a solution on how to equalise salaries in the future.
The EU Pay Transparency guidelines prohibit recruiters from asking applicants about their current salary. This is to prevent salary discrepancies from arising in the first place.
Social partners are to play an increased role in enforcing the guidelines. Companies that do not comply with the wage transparency guidelines will be fined. This is the only way to ensure compliance with the rules, emphasises the chief negotiator of the S&D group, Evelyn Regner.
EU Pay Transparency Directive: “Transparency of crucial importance”
Regner, member of the Committee on Women’s Rights and Gender Equality and Vice-President of the European Parliament, identifies in a dispatch the crucial importance of transparency for an equal society:
“Without it, it is simply impossible to take action against wage discrimination. “With the new EU rules, workers – and women in particular – will be better equipped to assert their right to equal pay for the same work or work of equal value as men.”
According to Regner, all workers will be able to share information about their pay internally and externally. “This means an effective ban on non-disclosure clauses.” It is also crucial, she said, that it is not women who have to go to court to prove wage discrimination, but companies who have to prove the opposite.
Wage discrimination is a systematic problem, not an individual one. Therefore, it should also be tackled systematically. Läs mer…