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PayPal temporarily halts cryptocurrency purchases for UK customers
Aug 17,2023
PayPal is working to comply with new UK regulations coming into effect on 8 October 2023. Britain's financial regulator, the Financial Conduct Authority (FCA), is imposing tougher rules on cryptocurrency products and services marketing and advertisin...
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Coinbase Mobilizes Crypto Community with Pro-Crypto Advocacy Group
Aug 15,2023
Coinbase, one of the world's largest crypto exchanges, has launched an independent nonprofit organization called the Stand with Crypto Alliance. The aim is to advance pro-crypto legislation through the US Congress and mobilize the crypto community. A...
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Zoom revises TOS clarifying it won't use customer data for AI training
Aug 15,2023
Zoom has once again revised its terms of service (TOS) to remove any mention of the use of content collected from its communications app to train AI models after facing a storm of criticism from users and privacy advocates. The company published an u...
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USA will regulate companies that track and sell personal data
Aug 15,2023
The US Consumer Financial Protection Bureau (CFPB) is unveiling plans for regulating companies that track and sell personal data on 15 August. The consumer watchdog will be setting out steps to guarantee that the modern-day data brokers of the survei...
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Israel issues cyber-security IoT consumer disclosure guidance for public consultation
Aug 15,2023
Israel's Consumer Protection and Fair-Trade Authority and Israel National Cyber Directorate issue cyber-security IoT consumer disclosure guidance for public consultation. According to the guidance, the consumers must be informed whether the IoT produ...
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UK ICO issues enforcement notice against Koypo Laboratories Ltd for breaches
Aug 12,2023
The UK Information Commissioner's Office (ICO) has issued an enforcement notice against Koypo Laboratories Limited for sending over 2 million unsolicited direct marketing e-mails to subscribers between 1 March 2017 and 31 March 2018 without their con...
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VC Firms like Sequoia and Softbank face lawsuit for alleged role in FTX fraud
Aug 11,2023
A lawsuit filed on 7 August alleges that several investment companies played a role in facilitating the FTX fraud by using their power, influence, and financial resources to support the growth of the exchange. The complaint asserts that the VCs provi...
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UK government proposal to enhance consumer protection against fake reviews
Aug 11,2023
According to a news report, the UK government has proposed changes to the Consumer Protection from Unfair Trading Regulations 2008 (CPR) to enhance consumer protection against fake reviews. The report notes that a yearly estimate of '
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Amazon will start paying damages for dangerous goods
Aug 10,2023
Amazon will start paying compensation to customers who are affected by dangerous products sold by independent sellers in its store. From the beginning of September, Amazon said it would compensate for personal injury or property damage on claims up t...
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Ofcom report highlights challenges in understanding video-sharing platform rules
Aug 09,2023
The media regulator Ofcom has found that many users of video-sharing platforms like OnlyFans, Twitch, and Snapchat struggle to comprehend the complex and lengthy terms and conditions of these platforms. Ofcom examined six platforms and discovered tha...
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US Fed issues new guidelines for banks transacting in stablecoins
Aug 08,2023
According to a recent supervisory letter, state banks that are part of the US Federal Reserve system must secure written supervisory nonobjection from the Fed before engaging in any activities involving dollar tokens used in facilitating payments, su...
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India to curb laptops and computers import
Aug 07,2023
The Government of India has imposed restrictions on the immediate import of laptops, tablets, and PCs that fall under the HSN 8741 category i.e. devices that are designed for data processing tasks. The directives imposing immediate restrictions on im...
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