Kenya is taking decisive steps to regulate cryptocurrencies as the government shifts its stance from cautious warnings to a more structured approach. Treasury Cabinet Secretary John Mbadi has confirmed plans to introduce a legal and regulatory framework aimed at fostering a fair and stable crypto market. This move is outlined in the ‘National Policy on Virtual Assets and Virtual Asset Service Providers,’ a draft proposal open for public feedback until 24 January.
The policy proposes comprehensive regulations for virtual assets, addressing key concerns such as money laundering, terrorism financing, and consumer protection. It aims to establish clear standards and procedures to govern virtual asset service providers, setting Kenya on a path similar to other African nations like South Africa and Nigeria, which have embraced crypto regulation.
Kenya’s cautious journey with cryptocurrencies dates back to a 2015 warning by the Central Bank of Kenya (CBK), highlighting risks like fraud and lack of legal safeguards. However, a significant shift occurred in September 2023 when the country completed an assessment of money laundering risks tied to virtual assets. With stablecoins accounting for nearly half of the region’s transaction volume, Kenya’s proactive regulatory approach could solidify its role as a leader in sub-Saharan Africa’s crypto adoption landscape.
Infosys has filed a counterclaim against Cognizant in a Texas federal court, accusing the US-based technology firm of anti-competitive behaviour. The Indian company alleges that Cognizant included restrictive clauses in client contracts, preventing them from working with rival firms and withholding necessary software training.
The Bengaluru-based software giant also claims Cognizant engaged in targeted poaching of its senior executives. The hiring of former Infosys president S Ravi Kumar as Cognizant’s CEO in 2023 allegedly delayed the development of Infosys’ Helix software product.
Cognizant denied the allegations, stating it supports fair competition but accused Infosys of improperly using its intellectual property. The counterclaim follows a 2023 lawsuit by Cognizant’s subsidiary TriZetto, which accused Infosys of stealing trade secrets related to healthcare insurance software.
Infosys is seeking damages, including legal fees, but did not disclose the amount. The case is being heard in the US District Court for the Northern District of Texas.
The US Supreme Court on Friday appeared inclined to uphold a law requiring a sale or ban of TikTok in the United States by January 19, citing national security risks tied to its Chinese parent company, ByteDance. Justices questioned TikTok’s potential role in enabling the Chinese government to collect data on its 170 million American users and influence public opinion covertly. Chief Justice John Roberts and others expressed concerns about China’s potential to exploit the platform, while also probing implications for free speech protections under the First Amendment.
The law, passed with bipartisan support and signed by outgoing President Joe Biden, has been challenged by TikTok, ByteDance, and app users who argue it infringes on free speech. TikTok’s lawyer, Noel Francisco, warned that without a resolution or extension by President-elect Donald Trump, the platform would likely shut down on January 19. Francisco emphasised TikTok’s role as a key platform for expression and called for at least a temporary halt to the law.
Liberal and conservative justices alike acknowledged the tension between national security and constitutional rights. Justice Elena Kagan raised historical parallels to Cold War-era restrictions, while Justice Brett Kavanaugh highlighted the long-term risks of data collection. Solicitor General Elizabeth Prelogar, representing the Biden administration, argued that TikTok’s foreign ownership poses a grave threat, enabling covert manipulation and espionage. She defended Congress’s right to act in the interest of national security.
With global trade tensions and fears of digital surveillance mounting, the Supreme Court’s decision will have wide-ranging implications for technology, free speech, and US-China relations. The court is now considering whether to grant a temporary stay, providing Trump’s incoming administration an opportunity to address the issue politically.
Taiwan is optimistic about the limited impact of US President-elect Donald Trump’s proposed tariffs on semiconductor exports, citing the nation’s technological edge in the global chip industry. On Friday, economy Minister Kuo Jyh-huei emphasised that Taiwan’s advanced semiconductor processes, led by industry giant TSMC, maintain an irreplaceable position in the supply chain for major companies like Apple and Nvidia.
Despite Trump’s pledges for sweeping tariffs—10% on global imports and up to 60% on Chinese goods—Taiwanese policymakers acknowledged potential challenges for the island’s export-driven economy. However, Kuo reassured that the chip sector’s resilience lies in its technological leadership, which mitigates the risk of significant disruption.
To adapt to the shifting trade landscape, Taiwan plans to help companies relocate parts of their supply chains to the United States if necessary. The island also aims to deepen cooperation in industries like aerospace and advanced technology by fostering ties with US and Japanese firms. This includes establishing a dedicated office in Japan to bolster collaboration on AI and drone development, Kuo said.
Taiwan’s proactive approach reflects its strategic positioning in global trade and its commitment to maintaining robust economic ties amid evolving US policies.
The European Union’s landmark crypto regulation, the Markets in Crypto-Assets (MiCA) framework, officially took effect on 30 December 2024, promising to streamline the industry across all 27 member states. MiCA introduces a unified rulebook to replace the fragmented national laws that previously governed the sector. Its goals include boosting transparency, reducing risks for investors, and fostering innovation in an industry often marred by scams and market instability.
Under MiCA, crypto token issuers must meet strict disclosure standards, while exchanges and wallet providers are required to register with the European Banking Authority. Stablecoins, particularly asset-referenced and electronic money tokens, face rigorous scrutiny, including reserve requirements and sustainability disclosures. However, the regulation has brought significant challenges, such as high compliance costs and operational overhauls, which could force smaller companies to relocate to less stringent jurisdictions like the UAE or UK.
Experts believe MiCA offers long-term benefits, including clarity and stability for the crypto sector, but warn that its strict demands might stifle innovation for startups. The regulation’s success will hinge on consistent enforcement across the EU and its ability to balance oversight with fostering growth. As Europe navigates this new framework, it signals a global shift, with the US also taking steps to establish itself as a crypto leader under its incoming administration.
Nvidia has voiced strong opposition to a reported plan by the Biden administration to impose new restrictions on the export of AI chips, urging the outgoing president to avoid making a decision that could impact the incoming Trump administration. The company warned that such measures would harm the US economy, hinder innovation, and benefit adversaries like China. Nvidia’s Vice President, Ned Finkle, called the policy a “last-minute” move that would leave a legacy of criticism from both US industry and the global community.
The proposed restrictions, as reported by Bloomberg, aim to limit AI chip exports to certain countries, particularly targeting China to prevent the enhancement of its military capabilities. While some nations would face outright bans, the rules would also cap the computing power that can be exported to others. The Biden administration has yet to confirm the details, and requests for comment from the White House and the Commerce Department went unanswered.
Industry groups, including the Information Technology Industry Council, which represents major tech firms like Amazon, Microsoft, and Meta, have expressed concern about the policy. They argue that it would impose arbitrary limitations on US companies’ global competitiveness and risk ceding market leadership to foreign rivals. Nvidia warned that these restrictions could push international markets toward alternative technologies, undermining the US technology sector.
President-elect Donald Trump, who begins his second term on January 20, previously enacted technology export restrictions to China during his first term, citing national security concerns. Nvidia’s statement reflects apprehension about the continuity of US policy on AI chip exports under the new administration.
San Francisco-based startup Based Hardware has unveiled Omi, a wearable AI assistant designed to improve productivity. Launched at the Consumer Electronic Show, the device responds to voice commands when worn as a necklace or can attach to the side of the head using medical tape, activating through a unique “brain interface.”
Unlike other AI gadgets that aim to replace smartphones, Omi is meant to complement existing devices. It can answer questions, summarise conversations, and manage tasks like to-do lists and meeting schedules. The startup’s founder, Nik Shevchenko, claims that Omi’s brain interface allows users to interact without saying a wake word by recognising mental focus. However, this feature has yet to be widely tested.
Based Hardware built Omi on an open-source platform to address privacy concerns. Users can store data locally and even develop their own apps for the device. Priced at $89, the consumer version will ship later in 2025, while a developer version is already available.
Omi enters a growing market of AI gadgets that have struggled to meet expectations. Shevchenko hopes Omi’s focus on practical productivity tools will set it apart, but the device’s success will likely depend on whether users embrace its experimental brain interface feature.
Meta is set to trial a new feature allowing users in Germany, France, and the United States to browse eBay listings directly on Facebook Marketplace. Transactions will still be completed on eBay’s platform, but the integration aims to provide Facebook users with a wider selection of products while giving eBay sellers greater exposure.
The move follows a hefty $840 million fine imposed by the European Commission in November over alleged anticompetitive practices related to Facebook Marketplace. While Meta continues to appeal the decision, it says it is working to address regulators’ concerns. The European Commission has yet to comment on the latest development.
Meta’s partnership with eBay reflects broader efforts by tech companies to expand online marketplaces and enhance user experience. The initiative is expected to benefit both buyers and sellers by increasing reach and streamlining access to listings.
Malaysia plans to leverage its strategic location and rising investments to establish itself as a hub for energy and semiconductor manufacturing, Prime Minister Anwar Ibrahim and Economy Minister Rafizi Ramli announced Thursday. The country is benefiting from political stability, economic growth, and a strong currency, distinguishing it from regional peers facing uncertainty.
Prime Minister Anwar highlighted Malaysia’s economic rebound last year, driven by significant investments in renewable energy and AI infrastructure. He pointed to a stable ringgit, low inflation, and a leading stock market performance in Southeast Asia. ‘In 2025, we aim to capitalise on our geographical position as a conduit for electricity, talent, and supply chain diversification,’ Anwar said at an economic forum.
Economy Minister Rafizi Ramli revealed plans to produce homegrown graphics processing unit (GPU) chips in response to growing AI and data centre demands. Malaysia, which already accounts for 13% of global semiconductor testing and packaging, is targeting over $100 billion in investments for the sector. The country has attracted major firms like Intel and Infineon, as well as digital investments from Google, further boosting its economy and solidifying its role as a key player in the global semiconductor supply chain.
US safety regulators are investigating Tesla’s ‘Actually Smart Summon’ feature, which allows drivers to move their cars remotely without being inside the vehicle. The probe follows reports of crashes involving the technology, including at least four confirmed incidents.
The US National Highway Traffic Safety Administration (NHTSA) is examining nearly 2.6 million Tesla cars equipped with the feature since 2016. The agency noted issues with the cars failing to detect obstacles, such as posts and parked vehicles, while using the technology.
Tesla has not commented on the investigation. Company founder Elon Musk has been a vocal supporter of self-driving innovations, insisting they are safer than human drivers. However, this probe, along with other ongoing investigations into Tesla’s autopilot features, could result in recalls and increased scrutiny of the firm’s driverless systems.
The NHTSA will assess how fast cars can move in Smart Summon mode and the safeguards in place to prevent use on public roads. Tesla’s manual advises drivers to operate the feature only in private areas with a clear line of sight, but concerns remain over its real-world safety applications.
