Global financial regulators agree on cross-border rules governing stablecoins

On Tuesday, in a significant development, central banks have said, they are set to regulate cross-border stablecoins, including Facebook’s Libra, with a common approach; they also mentioned that more rules may be introduced later to ensure market stability. The prospect of a currency-backed stablecoin being used by billions of people on Facebook has galvanized central…

European fintech Revolut plans on applying for U.S.. banking license

According to sources with knowledge of the matter at hand, Revolut, a digital banking app plans on applying for a bank charter with the Federal Reserve Bank of San Francisco and California’s Division of Financial Institutions within weeks. Although Revolut’s bank charter will be with California, it will allow the lender to operate widely throughout…

Twitter and Facebook dismantle global disinformation networks spreading misleading, false information

In a statement, Twitter Inc and Facebook Inc said, they had taken down more than dozen disinformation networks used by state-backed groups and political entities in multiple countries to deceive users on their platforms. As part of that effort, they had identified and suspended more than 3,500 accounts between them, which used fake identities and…

Apple to extend free Apple TV+ subscription to February 2021

In a statement Apple Inc said, it plans on extending its free Apple TV+ subscriptions through February; initially they were set to end within the next three months. Earlier had bundled its 1 year free subscription to its video-streaming service, which debuted commenced in November 2019 featuring shows such a Jennifer Aniston’s “The Morning Show”…

Huawei’s mobile equipment gradually being replaced with Nokia equivalent in EU

According to two sources close to the matter at hand, telecom operators Orange Belgium and Proximus plan on replacing Huawei’s mobile equipment in Belgium and Luxembourg with Nokia equivalent. The development comes with growing recognition of U.S. accusations that Huawei’s telecom gear could be used for economic and military espionage purposes by Beijing. Both Nokia…

Daimler signs licensing agreement with Sharp Corp after losing patent lawsuit

On Wednesday, in a statement Sharp Corp said, German automaker Daimler has signed a licensing agreement with it following a settlement in a patent infringement lawsuit concerning in-vehicle mobile communications technology. In a court ruling last month, Sharp won the patent dispute with a German court allowing Sharp to enforce a sales ban against Daimler…

Cisco ordered to pay $1.9 billion in damages to Centripetal Networks Inc over patent infringements

U.S. networking giant Cisco Systems Inc has been ordered, by a U.S. judge, to pay $1.9 billion to a Virginia-based company which had accused it of infringing on its cybersecurity patents. After a month of a non-jury trial, U.S. District Judge Henry Morgan in Norfolk, Virginia, found Cisco of infringing on four Centripetal Networks Inc’s…