Australia tightens rules for crypto ATMs

Australia has imposed stricter rules on crypto ATM operators to curb scams and ensure compliance with anti-money laundering laws. A $5,000 AUD limit now applies to cash deposits and withdrawals, with scam warnings required on all machines.

Operators must also step up customer verification and improve transaction monitoring. These measures follow an AUSTRAC-led investigation that revealed older Australians, particularly those aged 60 to 70, account for a large share of crypto ATM activity.

Authorities noted that some victims were tricked into handing over life savings via these machines.

AUSTRAC has already denied registration renewal to one provider, Harro’s Empires, due to ongoing misuse risks.

The agency warned that other non-compliant operators could face similar penalties. It also urged broader adoption of cash limits across exchanges to reduce financial crime exposure.

To strengthen awareness, AUSTRAC and the federal police have released educational materials to be displayed near ATMs. The move comes amid rising scam reports, with 150 confirmed cases and over $3.1 million AUD in losses reported within a year.

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Singapore orders crypto firms to stop overseas activity by June

Singapore’s central bank, the Monetary Authority of Singapore (MAS), has mandated all local crypto service providers to halt digital token operations targeting overseas markets by 30 June 2025. Firms failing to comply risk fines of up to S$250,000 (£145,000) and imprisonment for up to three years.

The directive applies to any Singapore-based company, individual, or partnership offering digital token services abroad, regardless of their main business. MAS confirmed no transitional arrangements will be made.

Only firms licensed under current financial laws may continue without breaching the rules.

Licences for overseas digital token services will be rare due to strict AML and CFT concerns. Industry experts advise companies to restructure operations quickly to remove Singapore connections and reduce compliance risks.

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EU fines Delivery Hero and Glovo €329 million over cartel practices

The European Commission has imposed a €329 million fine on Berlin-based Delivery Hero and its Spanish subsidiary, Glovo, for participating in what it described as a cartel in the online food delivery market. According to the Commission, the two companies engaged in illegal practices across Europe between 2018 and 2022, including market sharing, exchanging commercially sensitive information, and entering into a ‘no-poach’ agreement to avoid hiring each other’s employees.

This is the first time the Commission has penalised companies for a no-poach deal, which the EU competition chief, Teresa Ribera, said harmed workers’ job mobility in the digital economy. The anti-competitive behaviour reportedly began in mid-2018 when Delivery Hero took a minority stake in Glovo and persisted in various forms until 2022, when it gained full ownership of the Spanish firm.

Delivery Hero was hit with a €223 million fine, while Glovo received a €106 million penalty. Both companies admitted to their roles in the misconduct and agreed to a settlement. The case emerged not from company complaints but through whistleblowers and the Commission’s own monitoring.

Delivery Hero stated it had fully cooperated with the investigation and noted the final fine was 20% lower than initially expected, due to Brussels’s acknowledgement of a lower intensity of misconduct during some periods. The firm expressed hope that the settlement would allow all involved to move forward.

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WhatsApp fixes deleted message privacy gap

WhatsApp is rolling out a privacy improvement that ensures deleted messages no longer linger in quoted replies, addressing a long-standing issue that exposed partial content users had intended to remove.

The update applies automatically, with no toggle required, and has begun reaching iOS users through version 25.12.73, with wider availability expected soon.

Until now, deleting a message for everyone in a chat has not removed it from quoted replies. That allowed fragments of deleted content to remain visible, undermining the purpose of deletion.

WhatsApp removes the associated quoted message entirely instead of keeping it in conversation threads, even in group or community chats.

WABetaInfo, which first spotted the update, noted that users delete messages for privacy or personal reasons, and leave behind quoted traces conflicted with those intentions.

The change ensures conversations reflect user expectations by entirely erasing deleted content, not only from the original message but also from any references.

Meta continues to develop new features for WhatsApp. Recent additions include voice chat in groups and a native interface for iPad. The company is also testing tools like AI-generated wallpapers, message summaries, and more refined privacy settings to enhance user control and experience further.

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NSO asks court to overturn WhatsApp verdict

Israeli spyware company NSO Group has requested a new trial after a US jury ordered it to pay $168 million in damages to WhatsApp.

The company, which has faced mounting legal and financial troubles, filed a motion in a California federal court last week seeking to reduce the verdict or secure a retrial.

The May verdict awarded WhatsApp $444,719 in compensatory damages and $167.25 million in punitive damages. Jurors found that NSO exploited vulnerabilities in the encrypted platform and sold the exploit to clients who allegedly used it to target journalists, activists and political rivals.

WhatsApp, owned by Meta, filed the lawsuit in 2019.

NSO claims the punitive award is unconstitutional, arguing it is over 376 times greater than the compensatory damages and far exceeds the US Supreme Court’s general guidance of a 4:1 ratio.

The firm also said it cannot afford the penalty, citing losses of $9 million in 2023 and $12 million in 2024. Its CEO testified that the company is ‘struggling to keep our heads above water’.

WhatsApp, responding to TechCrunch in a statement, said NSO was once again trying to evade accountability. The company vowed to continue its legal campaign, including efforts to secure a permanent injunction that would prevent NSO from ever targeting WhatsApp or its users again.

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Microsoft takes down massive Lumma malware network

Microsoft has dismantled a major cybercrime operation centred around the Lumma Stealer malware, which had infected over 394,000 Windows devices globally.

In partnership with global law enforcement and industry partners, Microsoft seized more than 1,300 domains linked to the malware.

The malware was known for stealing sensitive data such as login credentials, bank details and cryptocurrency information, making it a go-to tool for cybercriminals since 2022.

The takedown followed a court order from a US federal court and included help from the US Department of Justice, Europol, and Japan’s cybercrime unit.

Microsoft’s Digital Crimes Unit also received assistance from firms like Cloudflare and Bitsight to disrupt the infrastructure that supported Lumma’s Malware-as-a-Service network.

The operation is being hailed as a significant win against a sophisticated threat that had evolved to target Windows and Mac users. Security experts urge users to adopt strong cyber hygiene, including antivirus software, two-factor authentication, and password managers.

Microsoft’s action is part of a broader effort to tackle infostealers, which have fuelled a surge in data breaches and identity theft worldwide.

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Google to appeal US ruling in search monopoly case

Google has announced plans to appeal a ruling that found it guilty of anti-competitive practices in the online search market, as the tech giant faces mounting pressure from US regulators to restructure its business.

The company said Saturday it ‘strongly believes the Court’s original decision was wrong’ and will challenge the ruling on appeal.

However, this follows a hearing on Friday in which the US Department of Justice proposed sweeping remedies that could force Google to divest from its Chrome browser and end exclusive agreements with smartphone manufacturers that pre-install Google Search by default.

The government also wants the company to share the data it uses to generate search results on Chrome, a move Google criticised as giving Washington the power to determine who receives access to user data.

The Justice Department’s proposals are part of a broader effort to curb what it sees as Google’s abuse of its dominant position in the search market, which it argues has stifled competition and harmed consumers.

But Google has pushed back, saying the remedies would benefit wealthy competitors like Microsoft’s Bing rather than improve users outcome. Instead, the company has suggested more limited actions, such as letting phone makers pre-install its Play Store without requiring Chrome or Google Search.

The judge’s final decision on penalties is expected by August, marking the end of one of the most significant antitrust cases against a major tech firm in over a decade.

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Shoppers can now let AI find and buy deals

Tech giants are pushing deeper into e-commerce with AI-powered digital aides that can understand shoppers’ tastes, try on clothes virtually, hunt for bargains, and even place orders independently.

The so-called ‘AI agent’ mark a new phase in retail, combining personalisation with automation to reshape how people shop online.

Google recently introduced a suite of tools under its new AI Mode, allowing users to upload a photo and preview how clothing would look on their own body. The AI adjusts sizes and fabric drape, enhancing realism.

Shoppers can also set their price and let the AI search for the best deal, alerting them when it’s found and offering to complete the purchase using Google’s payment platform.

OpenAI, Perplexity AI, and Amazon have also added shopping features to their platforms, while Walmart and other retailers are working to ensure their products remain visible to AI shoppers.

Payment giants Visa and Mastercard have upgraded their systems to allow AI agents to process transactions autonomously, cementing the role of digital agents in the online shopping journey.

Experts say this growing ‘agent economy’ offers powerful convenience but raises questions about consumer privacy, trust, and control.

While AI shoppers are unlikely to disrupt e-commerce overnight, analysts note that companies like Google and Meta are particularly well-positioned due to their vast user data and AI leadership.

The next evolution of shopping may not depend on what consumers choose, but on whether they trust machines to choose for them.

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South Korea’s crypto industry set to benefit regardless of election

South Korea’s cryptocurrency sector is poised to grow no matter the outcome of the upcoming snap presidential election on 3 June. Both candidates have pledged to ease regulations, legalise spot crypto ETFs, and launch a won-backed stablecoin to modernise finance.

Lee Jae-myung of the Democratic Party and Kim Moon-soo from the conservative People Power Party share strong pro-crypto stances.

Lee proposes allowing the national pension fund to invest in crypto and loosening strict banking rules requiring exchanges to work with licensed banks. Both candidates also support legalising spot crypto ETFs, reflecting rare bipartisan agreement.

The push for clearer regulations is urgent, given South Korea’s highly active retail crypto market. Recent government measures impose tough rules on exchanges, including strict listing standards and potential life sentences for violations.

With more than 16 million users and trading volumes rivaling major stock indexes, South Korea’s crypto industry stands to benefit significantly from the election promises.

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Bank of Italy criticises limited MiCA impact

Fabio Panetta, the Governor of the Bank of Italy, has emphasised that a digital euro is more effective than regulation alone. It can better address the growing risks associated with cryptocurrencies.

In his annual economic remarks, Panetta said the EU must advance the CBDC project to protect financial stability and meet growing demand for secure digital payments.

Panetta noted that the Markets in Crypto-Assets Regulation (MiCA), which came into full force in late 2024, has had minimal influence on stablecoin adoption in Europe.

Only a small number of electronic money tokens (EMTs) have been issued, with limited circulation and little interest from supervised intermediaries in Italy. Although MiCA encourages transparency, it has not stimulated significant crypto development in the region.

The governor also warned that European citizens remain exposed to risks due to inconsistent regulatory standards worldwide.

He urged stronger international cooperation, saying only a central bank-backed digital euro can ensure trust, efficiency, and security in digital payments.

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