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US senators announce bipartisan AI legislative effort
Sep 09,2023
Two senior US senators introduced a bipartisan framework for artificial intelligence (AI) regulation.In the latest attempt by Congress to catch up with the recent development of the technology, the heads of the Senate Judiciary Subcommittee on Privac...
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Google to pay $2 Billion in tentative settlement with 50 US states over alleged app store monopoly
Sep 08,2023
Google has announced a provisional settlement in the US on monopoly allegations concerning the 'Play Store' application platform. All fifty states, the District of Columbia, and Puerto Rico have signed the settlement. As part of the 2021 case resolut...
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IMF releases paper on policy and regulation for crypto-assets, commissioned by G20
Sep 07,2023
The International Monetary Fund (IMF) and the G20's Financial Stability Board (FSB) have released a joint paper outlining policy and regulatory recommendations to address the risks associated with crypto-assets. In the report, the IMF recognize that ...
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European Commission designates six tech companies as gatekeepers under Digital Markets Act
Sep 06,2023
The European Commission has designated six major tech companies, including Alphabet, Amazon, Apple, ByteDance, Meta, and Microsoft, as gatekeepers under the Digital Markets Act (DMA). The designation applies to a total of 22 core platform services pr...
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China crackdown on cryptocurrency influencers
Sep 06,2023
Sina Weibo, the popular Chinese social media app, has taken action to remove 80 influencer accounts that were promoting cryptocurrency activities on its platform. The removal was carried out in response to official legislation, as the accounts were f...
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Indian Government to delay laptop and PC import rules due to industry input
Sep 06,2023
The Indian government is considering a one-year delay in implementing new import licensing rules for laptops, tablets, and all-in-one PCs. This decision comes in response to applications from 40 companies, including major players like HP, Dell, and L...
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Norwegian court rules against Meta in privacy violation case
Sep 06,2023
A Norwegian court ruled that Meta, the parent company of Facebook and Instagram, can be fined for abusing users' privacy. On 14 August 2023, Norway's data protection authority (Datatilsynet) imposed a daily fine of 1 million krones ($98,500) against ...
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Apple concerned over privacy and security risks in new EU Digital Markets Act
Sep 06,2023
Apple has voiced concerns about the privacy and security risks it anticipates with the new EU Digital Markets Act (DMA). The DMA is a newly enforced regulation in the European Union that prevents large digital platforms from imposing unfair constrain...
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Telecom operators in India call for internet companies to contribute network costs
Sep 06,2023
Indian telecom operators, including major players like Jio, Airtel, and Vodafone-Idea, are proposing that internet companies should share the expenses of using their networks. This initiative is aimed at levelling the competitive landscape and enhanc...
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Bank of England paper finds deep learning models risky for financial firms
Sep 05,2023
The Bank of England (Boe) published a working paper claiming that deep learning models are "fragile" and could pose significant risks to the financial sector.Increasingly prevalent in the finance industry, deep learning, a subset of machine learning,...
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Bing and iMessage try to avoid gatekeeper label
Sep 05,2023
According to a report by the Financial Times, Microsoft and Apple are reportedly making efforts to avoid being listed as 'gatekeepers' subject to the Digital Markets Act (DMA). As per the law, 'gatekeepers' are defined as companies with a market capi...
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China's new oversight rules for app publishers
Sep 04,2023
Mobile app stores in China, such as Tencent Holdings and Xiaomi, are now preventing app publishers from launching new apps if they do not provide all the necessary information required by authorities. This action is taken in compliance with new rules...
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