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OKX Admits to Unlicensed Operations, Agrees to $505 Million Settlement with US DoJ
The OKX crypto exchange has pleaded guilty to operating an unlicensed money transmission business in the US. As part of the settlement, its parent company, Aux Cayes FinTech, paid an $84 million (roughly Rs. 731 crore) penalty and forfeited $421 million (roughly Rs. 3,667 crore) in fees, primarily collected from a few institutional clients.
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Google's AI Overviews Erode the Internet, US EdTech Firm Chegg Says in Lawsuit
Chegg, an online education company that offers textbook rentals, homework help, and tutoring has filed a lawsuit against Google. In the lawsuit filed in Washington, D.C., Google is co-opting publishers' content to keep users on its own site, erasing financial incentives to publish.
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"Disaster": Trump Halts Law Barring Firms From Bribing Foreign Officials
President Donald Trump signed an executive order rolling back enforcement of a law that bars US companies from bribing foreign officials, arguing that the restriction puts American firms at a disadvantage.
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China Reportedly Considers Probe Into Apple's Policies, App Store Fees
China's antitrust regulator is reportedly planning an investigation into Apple's policies and App Store fees. The country's State Administration for Market Regulation is reviewing Apple's policies, including its commission of up to 30 percent on in-app purchases and restrictions on external payment services and App Stores, the report said.
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TikTok Ban: US Appeals Court Upholds Law Forcing Its Sale Ahead of Deadline
A US federal appeals court has upheld a law requiring ByteDance to divest its popular short video app TikTok in the US by early 2025, ahead of an upcoming deadline. The decision from the appeals court increases the chances that TikTok will face an unprecedented ban in six weeks, that could cut off access to the service for 170 million users in the ...
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Indian Firms Sanctioned By US Not In Violation Of National Laws: Centre
The Ministry of External Affairs (MEA) on Saturday reacted to the recent US sanctions imposed on several Indian firms and nationals, with a spokesperson stating that Indian companies have not violated any national laws.
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Apple, Google, Amazon Lobby Group Opposes India's EU-Like Antitrust Proposal
A US lobby group representing tech giants Google, Amazon and Apple has asked India to rethink its proposed EU-like competition law, arguing regulations against data use and preferential treatment of partners could raise user costs, a letter shows.
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Apple Worked on Support for Apple Watch on Android Smartphones for Three Years: Report
Apple explored bringing support for the Apple Watch to Android smartphones, according to the company's response to the US DoJ's lawsuit. The iPhone maker has stated that it plans to "vigorously defend" against the US DoJ's lawsuit accusing the firm of violating US federal and state antitrust laws.
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US Man Who Was Wrongly Imprisoned For 37 Years To Receive $14 Million As Compensation
According to city documents, Mr DuBoise and his law firm will get $9 million this year, $3 million next year, and $2 million in 2026.
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Italy Accuses ChatGPT Creator Of Breaching EU's Data Protection Law
Italian authorities have accused OpenAI, the creator of ChatGPT, of breaching EU data protection law, giving the US firm 30 days to respond.
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India's MoS IT Rajeev Chandrasekhar Reacts to Binance and Changpeng Zhao Debacle
Indian minister Rajeev Chandrasekhar has warned crypto firms against misusing technology to flout laws and accomplish illegal activities. Chandrasekhar is the Union Minister of State for electronics and technology in India. The warning comes after Binance CEO Changpeng Zhao pleaded guilty to having violated the US’s anti money laundering policies...
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US Accuses Binance Of Money Laundering For Hamas, ISIS And Al Qaeda
Hamas uses a global financing network to funnel support from charities and friendly nations, including by using cryptocurrencies.
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Top US Law Firm Revokes Job Offers To Harvard, Columbia Students Over Anti-Israel Letter
Davis Polk & Wardwell, has rescinded job offers given to three Ivy League students associated with the Palestine support letter.
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Binance Stops New User Signups in UK, Says Needs Time to Comply with Rules on Crypto Ads
Binance said it needs some time to make sure its operations comply with UK’s laws around crypto marketing and advertisement. The exchange is scouting for an FCA-authorised firm to approve its ads and promotional materials in the UK. Until that happens, not only will new users not be able to sign up on Binance but existing British users will also ...
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US FTC Opens Investigation Into ChatGPT Maker OpenAI, Claims Firm Broke Consumer Protection Laws: Report
The US Federal Trade Commission has opened an investigation into OpenAI, the maker of ChatGPT, on claims it has run afoul of consumer protection laws by putting personal reputations and data at risk, the Washington Post reported on Thursday.
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OKX Admits to Unlicensed Operations, Agrees to $505 Million Settlement with US DoJ
The OKX crypto exchange has pleaded guilty to operating an unlicensed money transmission business in the US. As part of the settlement, its parent company, Aux Cayes FinTech, paid an $84 million (roughly Rs. 731 crore) penalty and forfeited $421 million (roughly Rs. 3,667 crore) in fees, primarily collected from a few institutional clients.
-
Google's AI Overviews Erode the Internet, US EdTech Firm Chegg Says in Lawsuit
Chegg, an online education company that offers textbook rentals, homework help, and tutoring has filed a lawsuit against Google. In the lawsuit filed in Washington, D.C., Google is co-opting publishers' content to keep users on its own site, erasing financial incentives to publish.
-
"Disaster": Trump Halts Law Barring Firms From Bribing Foreign Officials
President Donald Trump signed an executive order rolling back enforcement of a law that bars US companies from bribing foreign officials, arguing that the restriction puts American firms at a disadvantage.
-
China Reportedly Considers Probe Into Apple's Policies, App Store Fees
China's antitrust regulator is reportedly planning an investigation into Apple's policies and App Store fees. The country's State Administration for Market Regulation is reviewing Apple's policies, including its commission of up to 30 percent on in-app purchases and restrictions on external payment services and App Stores, the report said.
-
TikTok Ban: US Appeals Court Upholds Law Forcing Its Sale Ahead of Deadline
A US federal appeals court has upheld a law requiring ByteDance to divest its popular short video app TikTok in the US by early 2025, ahead of an upcoming deadline. The decision from the appeals court increases the chances that TikTok will face an unprecedented ban in six weeks, that could cut off access to the service for 170 million users in the ...
-
Indian Firms Sanctioned By US Not In Violation Of National Laws: Centre
The Ministry of External Affairs (MEA) on Saturday reacted to the recent US sanctions imposed on several Indian firms and nationals, with a spokesperson stating that Indian companies have not violated any national laws.
-
Apple, Google, Amazon Lobby Group Opposes India's EU-Like Antitrust Proposal
A US lobby group representing tech giants Google, Amazon and Apple has asked India to rethink its proposed EU-like competition law, arguing regulations against data use and preferential treatment of partners could raise user costs, a letter shows.
-
Apple Worked on Support for Apple Watch on Android Smartphones for Three Years: Report
Apple explored bringing support for the Apple Watch to Android smartphones, according to the company's response to the US DoJ's lawsuit. The iPhone maker has stated that it plans to "vigorously defend" against the US DoJ's lawsuit accusing the firm of violating US federal and state antitrust laws.
-
US Man Who Was Wrongly Imprisoned For 37 Years To Receive $14 Million As Compensation
According to city documents, Mr DuBoise and his law firm will get $9 million this year, $3 million next year, and $2 million in 2026.
-
Italy Accuses ChatGPT Creator Of Breaching EU's Data Protection Law
Italian authorities have accused OpenAI, the creator of ChatGPT, of breaching EU data protection law, giving the US firm 30 days to respond.
-
India's MoS IT Rajeev Chandrasekhar Reacts to Binance and Changpeng Zhao Debacle
Indian minister Rajeev Chandrasekhar has warned crypto firms against misusing technology to flout laws and accomplish illegal activities. Chandrasekhar is the Union Minister of State for electronics and technology in India. The warning comes after Binance CEO Changpeng Zhao pleaded guilty to having violated the US’s anti money laundering policies...
-
US Accuses Binance Of Money Laundering For Hamas, ISIS And Al Qaeda
Hamas uses a global financing network to funnel support from charities and friendly nations, including by using cryptocurrencies.
-
Top US Law Firm Revokes Job Offers To Harvard, Columbia Students Over Anti-Israel Letter
Davis Polk & Wardwell, has rescinded job offers given to three Ivy League students associated with the Palestine support letter.
-
Binance Stops New User Signups in UK, Says Needs Time to Comply with Rules on Crypto Ads
Binance said it needs some time to make sure its operations comply with UK’s laws around crypto marketing and advertisement. The exchange is scouting for an FCA-authorised firm to approve its ads and promotional materials in the UK. Until that happens, not only will new users not be able to sign up on Binance but existing British users will also ...
-
US FTC Opens Investigation Into ChatGPT Maker OpenAI, Claims Firm Broke Consumer Protection Laws: Report
The US Federal Trade Commission has opened an investigation into OpenAI, the maker of ChatGPT, on claims it has run afoul of consumer protection laws by putting personal reputations and data at risk, the Washington Post reported on Thursday.
