CoinDesk: Binance, CEO Zhao Sued by CFTC Over ‘Willful Evasion’ of U.S. Laws, Unregistered Crypto Derivatives Products. “The U.S. Commodity Futures Trading Commission (CFTC) sued crypto exchange Binance and founder Changpeng Zhao Monday on allegations the company knowingly offered unregistered crypto derivatives products in the U.S. against federal law.”
Engadget: Biden administration bans federal agencies from using commercial spyware. “In an executive order signed Monday, President Biden barred federal agencies from using commercial spyware that threatens US national security or carries a risk of improper use by foreign governments and individuals. “
Reuters: Japan ruling party group eyes ban on TikTok, other apps – lawmaker. “A group of Japan’s ruling Liberal Democratic Party (LDP) lawmakers is planning to compile a proposal next month urging the government to ban social networking services such as TikTok if they are used for disinformation campaigns, an LDP lawmaker said Monday.”
Washington Post: Hollywood, music industry brace for a TikTok ban. “Since the last time the U.S. government considered banning TikTok in 2020, the app has evolved from a social platform supporting a robust ecosystem of content creators and small businesses to an entertainment powerhouse, upending Hollywood power structures and rewriting the rules of the entertainment landscape. A ban now would threaten not the livelihoods of TikTok’s biggest stars and thousands of small businesses, it could deal a massive blow to the entertainment industry, forcing movie studios, record labels, casting directors, Hollywood agents, and actors to radically shift the way they do business.”
Ars Technica: TikTok CEO fails to convince Congress that the app is not a “weapon” for China. “For nearly five hours, Congress members of the House Committee on Energy & Commerce grilled TikTok CEO Shou Zi Chew over concerns about the platform’s risks to minor safety, data privacy, and national security for American users.”
CNBC: SEC charges Tron founder Justin Sun, celebrities Lindsay Lohan, Jake Paul with crypto violations. “The Securities and Exchange Commission has unveiled fraud and unregistered securities charges against crypto founder and Grenadian diplomat Justin Sun, alongside separate violations against the celebrity backers of his Tronix and BitTorrent crypto assets, which included Jake Paul, Lindsay Lohan and Soulja Boy.”
CNBC: Google stacks its legal team with former DOJ employees as it faces antitrust cases. “Google’s parent company, Alphabet, has stacked its legal team with former Department of Justice employees as it fights two separate antitrust lawsuits from the agency, public profiles show.”
CBC: Google says it will volunteer its top execs to testify at parliamentary committee. “Google said it will volunteer some of its top executives to testify at a parliamentary committee that is studying the actions of the Silicon Valley giant after it ran a five-week test that blocked news links to some of its Canadian users.”
Economic Times: It is duty of Twitter to provide details of account holders: Govt to Karnataka HC. “The union government has informed the High Court of Karnataka that being a significant intermediary, micro blogging site Twitter has additional responsibility and it was its duty ‘to provide details of account holders’.”
Business Insider: Elon Musk’s Twitter Blue is breaking European rules about unfair business practices by failing to show its full cost to consumers right away, EU agency says. “Elon Musk’s Twitter Blue subscription is breaking European Union rules about unfair business practices, a consumer watchdog in the bloc told Insider. Specifically, the advertised subscription prices don’t factor in taxes, which violates consumer-protection laws in the 27-country union, a spokesperson for the watchdog said.”
Economic Times (India Times): Google’s ‘castle and moat’ strategy is data hegemony: CCI tells NCLAT. “Fair trade regulator CCI on Thursday alleged that Google has created a digital data hegemony and called for a market space with ‘free, fair and open competition’”.
FTC: FTC Issues Orders to Social Media and Video Streaming Platforms Regarding Efforts to Address Surge in Advertising for Fraudulent Products and Scams. “With fraud on social media surging, the Federal Trade Commission has issued orders to eight social media and video streaming platforms seeking information on how these companies scrutinize and restrict paid commercial advertising that is deceptive or exposes consumers to fraudulent health-care products, financial scams, counterfeit and fake goods, or other fraud.”
York University: Consumer Privacy Protection Act could lead to fines for deceptive designs in apps and websites. “Canada’s proposed Consumer Privacy Protection Act (CPPA) prohibits online consent processes that are deceptive or misleading. Companies may face fines for breaking the act’s rules. This could be trouble for social media platforms, online shopping companies and other services that use deceptive user interface designs in their apps and websites.”
Haaretz: Deal Reached With Israeli Gov’t to Protect National Library’s Independence. “Israel’s education minister and the National Library of Israel have reached an agreement on the appointment of senior library officials, ending government efforts to undermine the institution’s independence.”
CNBC: SEC and Justice Department reportedly investigating SVB’s collapse, including insider stock sales. “The Securities and Exchange Commission and the Justice Department are investigating how Silicon Valley Bank became the second largest bank failure in U.S. history, the Wall Street Journal reported Tuesday. The probes, which are separate and in preliminary phases, include looking into stock sales that SVB executives’ conducted ahead of the tech-focused bank’s collapse, the Journal reported, citing people familiar with the matter.”
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