Federal Reserve Chair Jerome Powell said Monday that the U.S. public needs to understand the risks behind Bitcoin and other cryptocurrencies, even as the central bank itself is studying the potential costs and benefits of a digital dollar. Powell said the Fed prefers to call crypto coins “crypto assets,” because their volatility undermines their ability […]
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STC Kuwait and Virgin Mobile Middle East and Africa (VMMEA) announced on Sunday that they have received approval of a license as Kuwait’s first virtual network operator (MVNO) from the country’s Communication and Information Technology Regulatory Authority (CITRA). The announcement, made during a press conference attended by senior government and industry figures, will allow STC […]
TikTok parent company ByteDance announced on Monday that its video games arm, Nuverse, has acquired China-based Mooton Technology, as the company looks to further expand within the gaming industry, Reuters reported. ByteDance’s desire to bolster its position within the video gaming industry, places it directly in competition with China’s largest social media and gaming company […]
The popular South by Southwest cultural event, a virtual gathering this year, has announced the winner of the Pitch Event, as part of the SXSW Online digital event, with innovative recipients ranging from AI to wearable startups. “Now in our 13th year of programming, Pitch continues to showcase the best technology from around the world, […]
Visa is under investigation by the Department of Justice’s antitrust division over whether the company pushes merchants into more expensive forms of debit card payments, The Wall Street Journal reported Friday. The investigation is focused on how merchants route debit card transactions when a consumer makes an online transaction, according to the Journal, which cited […]
Chinese authorities summoned 11 companies including Alibaba and Tencent for talks regarding the security of voice software, as Beijing steps up scrutiny over the internet sector. The internet watchdog the Cyberspace Administration of China said Thursday that the talks were about security assessments of technology used in voice-based social media and deepfake technology that can […]
The Federal Communications Commission has fined Texas-based telemarketers $225 million—the largest fine in FCC history—for transmitting approximately 1 billion robocalls, many of them illegally spoofed, to sell short-term, limited-duration health insurance plans, the agency said. According to the agency press statement, the robocalls falsely claimed to offer health insurance plans from well-known health insurance companies […]
On Feb. 4, Tim Wu, prominent, progressive attorney, sent his last tweet as a private citizen; the next day, the White House announced its decision to place Wu in the National Economic Council (NEC), one of two key advisory boards to President Joe Biden. While Wu has been on board over a month, none of […]
The actions of Canadian and American authorities during the arrest of a senior executive for Chinese communications giant Huawei Technologies “spanned the spectrum from negligence to casual indifference” of her rights, defense lawyers told an extradition hearing Wednesday. Canada arrested Meng Wanzhou, the daughter of Huawei’s founder and the company’s chief financial officer, at Vancouver’s […]
Russian authorities said Tuesday they would block Twitter in a month if it doesn’t take steps to remove banned content, a move that escalates the Russian government’s drawn-out standoff with social media platforms that have played a major role in amplifying dissent in Russia. Russia’s state communications watchdog, Roskomnadzor, last week announced it was slowing […]