In a statement, U.S. social media giant Facebook Inc said, it would block news publishers and people in Australia from sharing news on its app, including Instagram and Facebook if a proposed bill which forces it pay local media outlets for content, becomes law. In July, the Australian government said it would require tech giants…
Despite facing intense scrutiny from global regulators, Facebook’s Libra project saw Singapore state investor Temasek Holdings joining the cryptocurrency project. Financial regulators are worried that the Libra project when launched could erode national control over money. Late on Thursday, Switzerland-based Libra Association, which manages the Facebook-backed digital currency project, announced Temasek entry into the project.…
In a joint statement, U.S. technology companies, including Alphabet’s Google, Microsoft Corp, Twitter, Facebook, LinkedIn, Reddit, and YouTube are working together to quell misinformation about the coronavirus on their platforms. The companies said they were coordination with government healthcare agencies around the world to share critical updates about the Wuhan coronavirus. According to Johns Hopkins…
In a statement, Twitter Inc said, it was testing a new type of tweet in Brazil, which disappears after 24 hours, a feature that is similar to the stories feature that appears on Snapchat Facebook’s Instagram. Called ‘fleets’, Twitter’s vanishing messages can be viewed by tapping on a user’s profile picture. They however do not…
In a statement, Governor Lael Brainard of the U.S. Federal Reserve stated, the central bank is looking at a broad range of issues surrounding digital currencies and payments, including design, policy and legal considerations around potentially issuing its own digital currency. The development underscores an openness in the possibility of the Federal Reserve issuing its…
On Friday, in a statement the Organization for Economic Cooperation said, nearly 140 governments have agreed to rewrite their decades-old cross-border tax agreements over the coming months following talks this week in Paris. The rise of internet giants, including, Facebook, Google, Apple, and Amazon have weighed on countries given that these companies exploit loopholes in…
Midst growing debate over the future of money, major central banks across the globe are looking at a possibility of issuing their own digital currencies, said the European Central Bank and the Bank of England. “The central banks of Britain, the euro zone, Japan, Sweden and Switzerland will share experiences in a new group headed…
In a statement, Facebook’s Libra Association said, Britain’s Vodafone Group PLC has left its global digital currency initiative. In recent months, Facebook’s digital currency has seen an exodus of its backers midst increased regulatory scrutiny, including financial companies such as Mastercard Inc and Paypal Holdings Inc. In June 2019, Facebook had announced a plan to…
Finance ministers from the European Union have agreed that private digital currencies including Facebook’s Libra should not be allowed in the European Union until potential risks surrounding them are clearly addressed. The move confirms the tough stance claimed by the EU on stablecurrencies such as Facebook’s Libra, which incidentally has attracted criticism from global regulators…
On Thursday, Australia started an investigation into the potential usage of foreign influence using social media platforms such as WeChat, Facebook, and Twitter. The development comes in the wake of heightened concerns in the country that China is seeking to cast its influence in Canberra’s affairs. In the past, Russia had used social media to…
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