RBI Fines Payment Operators Including Visa
The Reserve Bank of India (RBI) imposed penalties on Visa, Manappuram Finance, and Ola Financial Services for non-compliance.
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Apple Signs On to Voluntary US Scheme to Manage AI Risks
Apple has signed the voluntary commitments of the President of the United States Joe Biden, which are aimed at regulating activities in the artificial intelligence industry.
Revolut Reportedly Denies British Customers Reimbursement Requests
The media reports that Revolut refused to reimburse thousands of customers in the United Kingdom after how they were defrauded.
History of Fintech in India
The fintech sector in India has seen significant changes over the past several decades. Starting with the initial phase of banking computerization, which began in the late 1980s and early 1990s, this foundational step set the stage for more advanced innovations in the financial industry.
French Antitrust Regulator Reportedly Targets Nvidia
The media reports that charges will be filed in France against the US developer of chips Nvidia for violating antitrust laws.
Meta Faces EU Charges Over ‘Pay or Consent’ Policy
EU regulators believe Meta may leave its users no other viable option but to allow tracking their personal data for advertising purposes with its ‘pay or consent’ policy.
Microsoft Faces Mega Fine in EU
On Tuesday, June 25, European Union officials said that Microsoft had violated the antitrust laws of this block of countries as part of its practice of bundling Teams with other popular apps of the technology giant for business.
Meta Suspendes AI Models Launch in Europe
Meta Platforms has postponed the launch of its artificial intelligence models in Europe.
US Regulators Reportedly to Open Antitrust Probes Into Nvidia, Microsoft and OpenAI
In the United States, the Federal Trade Commission (FTC) and the Department of Justice (DOJ) intend to launch an antitrust investigation against Microsoft, OpenAI and Nvidia.
ECB Reportedly to Impose Fines on Banks for Climate Failures
The media reports that the European Central Bank intends to take an unprecedented and largely sensational decision in the form of fines against several financial institutions that have been demonstrating their inability to combat the effects of climate change for a long period.
AI Companies Agree to Kill Switch Policy
At the artificial intelligence summit held last week in Seoul, companies operating in the AI industry reached an agreement on the application of the so-called kill switch policy, which provides for stopping the process of developing configurations of the advanced technology if certain risk thresholds are exceeded.
Big Tech Reportedly Asks India to Reconsider Antitrust Law
The media reported that lobbying groups representing the interests of technology giants from the United States have asked the Indian leadership to review the proposed antitrust law.
Cryptocurrency Exchange Gate.HK Faces Regulatory Pressure
Hong Kong-based cryptocurrency exchange Gate.HK has closed down due to non-compliance with local licensing requirements, which will take effect on June 1.
Worldcoin to Stop Iris-Scanning Operations in Hong Kong
Worldcoin, a digital identity scanning startup co-founded by OpenAI CEO Sam Altman, has been notified about the need to stop its operations in Hong Kong.
UK Regulators Fine Citi
In the United Kingdom, local regulators imposed a fine of 62 million pounds ($79 million) on bank Citi, which head office is located in New York.
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