REGULATORS
British fintech Revolut gets UK banking licence, ending three-year wait
Fintech Revolut said it had now entered the "mobilisation" stage, sometimes referred to as "Authorisation with Restrictions." The licence is a boost for Revolut as it seeks a valuation for the business of more than $40 billion through a planned share sale.
UK fines TikTok over child safety data reporting
British telecommunications regulator Ofcom said Wednesday it had handed video sharing platform TikTok a 1.9 million pound ($2.4 million) fine for failing to timely make available safety data. "Ofcom has today fined TikTok £1.875 million for failing to accurately respond to a formal request for information about its parental controls safety feature," the regulator said in a statement.
Spain's antitrust watchdog opens investigation into Apple's app store
The CNMC, as the regulator is known, said that Apple may have imposed unequal commercial conditions on developers of mobile applications sold at its app marketplace.
What to know about the US' Kids Online Safety Act and its chances of passing
The Kids Online Safety Act, KOSA, seeks to safeguard children from online harm by holding tech companies accountable. With bipartisan backing, the bill faces opposition citing free speech concerns. As Congress deliberates, the fate of online safety regulation hangs in the balance.
Microsoft's hiring of former Inflection AI staff prompts UK probe
UK's CMA is investigating Microsoft's $650 million deal and hiring of Inflection AI staff, founded in 2022 by Mustafa Suleyman, involving investors Eric Schmidt and Bill Gates. Decision due Sept. 11. Microsoft's ties with OpenAI, Mistral AI, Amazon-Anthropic are under review. Microsoft, relinquishing an OpenAI board seat, asserts hiring promotes competition in an emailed statement.
British regulators look into Big Tech and digital wallets
The Financial Conduct Authority and Payments Systems Regulator is seeking views on the benefits and risks, and will assess the impact digital wallets, such as Apple Pay, Google Pay and PayPal, have on competition and choice of payment options at checkout, among other things.
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Musk's X breached DSA online content rules, EU says
Elon Musk's owned social media platform X (previously known as Twitter) has breached EU online content rules. This move by the European Commission came after a seven-month-long investigation. X was also charged with blocking researchers from accessing its public data.
Australia to bring anti-scam law targeting internet giants this year, regulator says
The Australian Competition and Consumer Commission (ACCC) and the treasury department are consulting internet, banking and telecommunications firms about creating a mandatory, enforceable anti-scam code which legally requires them take reasonable steps to protect users, including offering an effective complaint service.
Space regulator nod must from April 2025 for use of non-Indian satellites
The government advises private television channel broadcasters to get IN-SPACe authorisation for non-Indian satellites by April 1, 2025. Following the Indian Space Policy-2023 and May NGP issuance, existing services continue until March 31, 2025. From April 2025, only authorised GSO/NGSO satellites can provide services. New capacity in C, Ku, Ka bands requires authorisation through an Indian Entity.
European regulators crack down on Big Tech
EU regulators probe Big Tech. Apple addresses DMA breaches, Spotify's complaint. Microsoft leaves OpenAI’s board. Meta's consent model, CrowdTangle features, Facebook, Instagram’s child safety scrutinized. Google fined 2.42 billion euros. Amazon's DSA compliance checked. NVIDIA faces French probe. TikTok, Meta gatekeeper disputes. Italy fines Facebook, Meta. Germany ends Google probe. UK investigates cloud market. Spain suspends Meta products.
EU antitrust regulators accept Apple's offer to open up mobile payments system
Apple said its offer would give European developers an option to enable tap-and-go payments for car keys, closed loop transit, corporate badges, home keys, hotel keys, merchant loyalty/rewards, and event tickets from within their iOS apps. The offer will be valid for 10 years.
Amazon could face probe over treatment of UK grocery suppliers, watchdog says
Amazon's perceived code compliance score fell to 47% from 59% in 2023. The Groceries Code Adjudicator (GCA) 2024 annual survey shows that fewer than half of suppliers who directly supply Amazon believe the US corporation "consistently" or "mostly" adheres to the Groceries Supply Code of Practice (GSCOP).
EU vs Big Tech: the cases keep mounting
European regulators have launched a series of probes into Big Tech. In the latest move, the European Commission asked Amazon for more information on its compliance with the Digital Services Act (DSA), which requires Big Tech players to do more to tackle illegal and harmful content on their platforms.
Amazon and other US companies in crosshairs on warehouse safety
The warehouse sector has tripled in employment but doubled injury rates due to productivity targets, injuring workers like Keith Williams. The Warehouse Worker Protection Act seeks regulation. California fined Amazon $6 million for non-disclosure. The U.S. Chamber of Commerce opposes it. Emma Greenman supports state laws. Technology compounds workload while Amazon disputes having quotas and claims equitable management.
Talen asks US regulators to reject challenge to Amazon data center deal
Talen Energy defends its Amazon data center deal against claims by utilities, stating it won't raise power costs or affect grid reliability. The dispute could set a precedent for future data center agreements. FERC's decision pending.
Explained: Why is France targeting Nvidia?
France's antitrust regulator is set to charge Nvidia in relation to alleged anti-competitive practices. The move comes after dawn raids by French authorities in September last year, which sources said targeted Nvidia. The raids were the result of an ongoing probe into the cloud computing industry.
India’s bid to make GPAI as AI regulator gets global support
India has emerged successful in making the Global Partnership on Artificial Intelligence (GPAI) the leading platform for international cooperation on AI governance. This includes establishing regulations and a unified global framework for responsible AI development and implementation.
US Supreme Court sidesteps dispute on state laws regulating social media
Legal battles over social media control escalate as court decisions differ. The role of content moderation and free speech rights takes center stage in the ongoing debates and legal challenges.
US regulators could approve spot ether ETFs for launch by July 4
Ether ETFs are on the brink of approval, with major stock exchanges gearing up for trading. The process, involving top asset managers and regulatory bodies, seems to be approaching its final stages, indicating a significant development in the ETF market.
China's crackdown on 'wealth-flaunting' social media puts pressure on influencers to echo the party line
Chinese regulators crack down on social media influencers flaunting wealth, contrasting with US mental health concerns. The campaign targets extravagant displays, reflecting wider fears of subversive views. Public support for authoritarian measures shapes the crackdown, including pressure on Taiwanese influencers. The effort aligns with China's goal of managing its vast online population under President Xi Jinping's watchful eye.
Apple's App Store rules breach EU tech rules, EU regulators say
The European Commission, functioning as both the EU's antitrust and technology regulator, announced that it has forwarded its initial findings to Apple after launching an investigation in March. Additionally, the EU executive revealed that it is also opening an inquiry into the iPhone maker concerning its updated contractual terms for third-party app developers and app stores.
Citing overlaps, experts seek rejig of Digital Competition Bill
The ministry of electronics and information technology continued discussions on the digital competition bill with think tanks and industry bodies raising concerns about foreign regulation approaches. The impact on startups and overlap with existing laws were highlighted.
US regulator says TikTok may be violating child privacy law
The US Federal Trade Commission (FTC) announced Tuesday that it had referred a complaint against TikTok to the Justice Department, saying the popular video sharing app may be violating child privacy laws. FTC chair Lina Khan said Tuesday on X that the follow-up investigation had "found reason to believe that TikTok is violating or about to violate" COPPA and other federal laws.
Google loses bid to end US antitrust case over digital advertising
Google had argued for a win without a trial, saying that antitrust laws do not block companies from refusing to deal with rivals and that regulators had not accurately defined the ad tech market.
Meta will not launch Meta AI in Europe for now
Meta Platforms postpones Meta AI launch in Europe due to Irish privacy regulator's request on user data from Facebook and Instagram.
Indonesia minister threatens to shut down X over adult content
Indonesia is prepared to shut down social media platform X if it does not comply with a regulation barring adult content, as stated by the country's communications minister.
TN law to place time, user curbs on all online games
Tamil Nadu is considering a law to regulate online and real money games, with restrictions on playtime and usage, mirroring the central government's approach. This is being spearheaded by Tamil Nadu Online Gaming Authority (TNOGA); a five-member regulatory authority formed in August 2023.
Explainer: Why the few big AI players worry US antitrust regulators
U.S. antitrust enforcers are investigating Big Tech's impact on the AI sector, looking into potential competition issues. Key concerns include data access advantages, impact on workers, and partnerships with Big Tech firms.
IAMAI view on draft Digital Law not shared by all constituents: four members tell MCA
Four members of IAMAI, including Bharat Matrimony, Match Group, Hoichoi, and ShareChat, express divergent views on ex-ante regulation in the draft DCB to the Ministry of Corporate Affairs.
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