Consumer protection

Russian draft law includes 48-hour crypto cooling-off rule

Russian lawmakers are considering a 48-hour cooling-off period for certain cryptocurrency transfers as part of a draft law on digital currencies and digital rights.

The measure would apply to non-qualified investors and is intended to protect users from fraud, according to comments from Vladimir Chistyukhin, First Deputy Governor of the Bank of Russia.

Chistyukhin said the cooling-off period would not apply to cryptocurrency trading itself. He clarified that the mechanism is intended for transfers to other accounts and similar operations, rather than brokerage activity.

The proposal forms part of a broader legislative effort to establish a legal framework for the circulation of cryptocurrencies in Russia. The State Duma adopted the government-backed draft law in its first reading in April.

Russian officials have framed the cooling-off mechanism as a targeted investor-protection tool rather than a broader restriction on market activity.

The proposal reflects a regulatory approach focused on reducing fraud risks while allowing parts of the crypto market to operate under a more formal legal framework.

Why does it matter?

The proposal shows how crypto regulation is moving beyond general warnings and enforcement actions towards safeguards built into transaction flows. A cooling-off period can slow down transfers linked to fraud, giving users and intermediaries more time to detect suspicious activity. The narrow scope is also important: by excluding trading and brokerage activities, Russian regulators aim to reduce consumer harm without directly limiting market liquidity or day-to-day trading.

Would you like to learn more about AI, tech, and digital diplomacy? If so, ask our chatbot!

Vietnam’s new e-commerce law takes effect

Vietnam’s Law on E-commerce came into effect on 1 July 2026, modernising the country’s digital economy framework after more than a decade of rapid growth in online commerce. The law addresses gaps that previous regulations failed to close, particularly around intermediary platforms, cross-border e-commerce, counterfeit goods, commercial fraud, and consumer rights infringements.

Under the new law, e-commerce platforms must verify sellers’ identities, disclose information about sellers, products and transaction terms, proactively identify violations, and establish effective complaint-handling mechanisms. They are also required to retain transaction data, provide it to authorities on request, and strengthen product information requirements, particularly for sensitive goods.

The legislation also promotes greener e-commerce through more efficient logistics and environmentally friendly packaging, while creating new opportunities for SMEs, household businesses and startups. Consumer protections have been strengthened through clearer rules on complaints, refunds, compensation and personal data, with experts expecting consistent enforcement to improve market confidence over time.

Major e-commerce platforms operating in Vietnam have already begun adapting, including by expanding the use of near-field communication (NFC) technology for seller verification and AI to detect counterfeit and intellectual property-infringing products. Although compliance costs may initially increase, the reforms are expected to reward businesses that invest in higher standards and strengthen the long-term development of Vietnam’s digital marketplace.

Why does it matter?

Vietnam’s new law reflects a broader shift towards platform accountability in digital commerce. By requiring marketplaces to verify sellers, retain transaction data and proactively tackle fraud and counterfeit goods, the government is placing greater responsibility on intermediaries to ensure the integrity of online marketplaces.

The legislation also illustrates how digital economy regulation is evolving beyond consumer protection alone. Combining AI-enabled enforcement, stronger data governance and sustainability measures, the framework aims to support long-term growth in e-commerce while increasing trust in Vietnam’s rapidly expanding digital economy.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot! 

CJEU court upholds €4.7 billion fine against Google in Android case

The Court of Justice of the European Union (CJEU) has upheld a €4.1 billion ($4.67 billion) antitrust fine against Google, rejecting the company’s appeal in a long-running case over its Android mobile operating system.

The European Commission imposed the record fine in 2018 after finding that Google had abused its dominant position by requiring smartphone manufacturers to pre-install Google apps and imposing contractual restrictions that limited competition. The ECJ dismissed Google’s appeal, confirming the Commission’s findings.

A lower EU court reduced the penalty from €4.34 billion to €4.1 billion in 2022 while largely upholding the Commission’s decision. Google has argued that Android increases consumer choice and supports developers, and said it modified its contractual arrangements following the original ruling to comply with EU competition rules.

The judgement comes as the EU continues to intensify scrutiny of major technology companies through both competition law and the Digital Markets Act, alongside investigations into digital advertising and other platform practices.

Why does it matter?

The ruling reinforces the European Union’s long-standing approach to digital competition, confirming that dominant technology companies can face substantial penalties when their market position is used to restrict consumer choice or limit competition. It also strengthens the Commission’s record in pursuing landmark antitrust cases against major digital platforms.

The judgment comes as the EU increasingly combines traditional competition enforcement with newer regulatory tools such as the Digital Markets Act. Together, these frameworks signal that European regulators intend to maintain close oversight of large digital platforms and shape how competition operates in digital markets.

Would you like to learn more about AI, tech, and digital diplomacy? If so, ask our chatbot!

EU customs reform targets low-value online imports

The EU has abolished the customs duty exemption for e-commerce parcels worth less than €150, introducing a temporary €3 duty on low-value items imported directly from non-EU countries.

The measure entered into force on 1 July 2026 and forms part of the wider EU Customs Reform. It is intended to create fairer competition between the EU retailers and non-EU online sellers while strengthening controls on unsafe or non-compliant products.

The previous exemption was designed for an earlier period of limited cross-border online shopping. The Commission said 5.9 billion low-value parcels entered the EU in 2025, representing 97% of all imported items but only 2% of their total value.

The EU authorities argue that the exemption distorted competition and created incentives to undervalue or split shipments to remain below the €150 threshold.

Under the new system, consumers should not have to pay the duty at the time of delivery. Businesses involved in selling and transporting imported goods will be responsible for customs payment and compliance.

The €3 duty is a transitional measure and will remain in place until 1 July 2028. After that, low-value imports will be treated under the standard customs framework, with duties based on product classification, origin and value.

The reform also introduces Product Identifiers, which become mandatory from 1 November 2026 to improve traceability and safety checks. A separate handling fee for imported e-commerce goods is also expected by November 2026.

Why does it matter?

The change addresses one of the biggest pressure points in the EU e-commerce: billions of low-value parcels entering the single market with limited customs duties and weak product-level data. Removing the exemption could reduce unfair advantages for non-EU sellers, strengthen enforcement against unsafe products and give customs authorities better tools to manage mass e-commerce imports. It also shows how the EU is treating online retail as a trade, consumer protection and digital platform accountability issue, not only a customs matter.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!  

Australian watchdog sues Amazon over Prime Video contract terms

Australia’s consumer watchdog has launched legal action against Amazon, alleging the company used unfair contract terms when introducing advertisements to Prime Video.

The Australian Competition and Consumer Commission claims that Amazon’s standard-form contracts allowed the company to make materially adverse changes to Prime services and contract terms without giving annual subscribers a contractual right to refunds or other meaningful redress.

The case concerns contracts with more than one million annual Amazon Prime subscribers between 1 November 2023 and 18 August 2025.

Prime Video had been delivered largely advertisement-free before 2 July 2024. Amazon then introduced advertisements and required subscribers to pay an additional $2.99 per month to keep watching Prime Video content without ads.

According to the ACCC, more than 850,000 annual Prime subscribers had already paid for their subscription when the change took effect. The regulator alleges that those subscribers received degraded service for the remainder of their prepaid term unless they paid extra for the ad-free option.

The ACCC says the relevant contract terms created a significant imbalance between Amazon and consumers, were not reasonably necessary to protect Amazon’s legitimate interests and could cause consumer detriment.

Amazon has since amended some terms to introduce a right to a pro rata refund where annual Prime subscribers cancel their service in response to materially adverse changes.

The case will test how Australian consumer law applies when digital subscription platforms change paid services after customers have already committed to annual plans.

Why does it matter?

The lawsuit raises a broader consumer protection question in the digital economy: how much flexibility should subscription platforms have to change paid services after customers have already paid? As streaming, cloud, gaming and software services increasingly rely on subscription models, regulators are paying closer attention to whether users receive fair notice, real choice and meaningful remedies when platforms alter service quality, pricing or advertising conditions.

Would you like to learn more about AI, tech, and digital diplomacy? If so, ask our chatbot!

New UK regime targets systemic stablecoin issuers

The Bank of England and the Financial Conduct Authority have set out how they will jointly regulate stablecoin issuers whose activities could pose risks to UK financial stability.

The joint approach forms part of the UK’s emerging stablecoin regime. Under the planned framework, the FCA will regulate UK-issued qualifying stablecoins, while issuers recognised as systemic by HM Treasury will also be subject to Bank of England oversight.

The authorities said the two-part regime is intended to provide clarity for firms while supporting innovation, consumer protection, market integrity and financial stability.

Stablecoin issuers may become systemic if their coins are widely used in payments and could create risks for the UK financial system. In those cases, the Bank would supervise prudential and financial-stability risks, while the FCA would continue to oversee consumer protection, competition and market integrity issues.

The framework includes transition arrangements for firms moving from FCA-only supervision to joint regulation. The Bank and FCA said this should help issuers scale without facing conflicting or duplicative requirements.

The approach also allows for issuers to be recognised as ‘systemic at launch’ where they are not yet operating at systemic scale but are likely to do so. Such firms could enter a phased supervisory pathway while meeting both FCA and Bank requirements.

The Bank is separately consulting on draft rules for sterling-denominated systemic stablecoin issuers. It intends to finalise its Code of Practice by the end of 2026, with regulated stablecoins expected to operate in the UK from 2027.

Why does it matter?

The UK framework is important because it creates a pathway for stablecoins to move from crypto-market products towards regulated payment instruments. By scaling supervision as issuers grow, the UK aims to support innovation without allowing systemically important stablecoins to develop outside financial stability oversight. The model could influence how other jurisdictions regulate digital money, especially where stablecoins are expected to support retail payments, wholesale settlement or cross-border transactions.

Would you like to learn more about AI, tech, and digital diplomacy? If so, ask our chatbot!

Central Bank of Azerbaijan submits draft crypto law for review

Azerbaijan has moved closer to regulating its cryptocurrency sector after the Central Bank completed a draft law on virtual assets and crypto markets and submitted it to state authorities for review.

Fidan Tofidi, Director of the Central Bank’s Financial Technologies and Innovations Department, said the legislation could be adopted before the end of the year. She described the framework as a major step for a sector that has so far remained unregulated in the country.

The proposed regime is expected to introduce licensing and supervision for virtual asset service providers operating in Azerbaijan. Regulators have previously said the framework should cover virtual asset markets and the activities of companies providing crypto-related services.

The initiative is part of Azerbaijan’s broader financial-sector development agenda, which includes work on virtual assets, shared know-your-customer mechanisms, supervisory technology and digital financial infrastructure.

Earlier Central Bank discussions on virtual assets focused on regulatory and supervisory approaches, market risks and opportunities, and the experience of countries such as Kazakhstan and Türkiye.

Azerbaijan has also tested crypto-related projects through its regulatory sandbox. One pilot involved a platform for buying, selling, exchanging and storing virtual assets, although the project was suspended after failing to achieve expected test results.

The Central Bank has maintained a cautious stance on a possible central bank digital currency, saying it is monitoring international developments before moving forward.

Why does it matter?

Azerbaijan’s draft law signals a shift from a legal grey area towards formal oversight of crypto markets and virtual asset service providers. Licensing and supervision could give regulators more visibility over market activity, strengthen consumer protection and help address money-laundering and terrorism-financing risks. The move also reflects a wider trend among emerging markets: rather than banning crypto outright, authorities are building frameworks to integrate digital assets into regulated financial systems.

Would you like to learn more about AI, tech, and digital diplomacy? If so, ask our chatbot!

UK CMA consults on Apple App Store steering rules

The UK Competition and Markets Authority has opened a consultation on a proposed conduct requirement that would allow app developers to steer users outside Apple’s App Store to complete digital purchases.

The proposal applies to Apple’s Mobile Platform, which the CMA designated as having Strategic Market Status in October 2025. The consultation is part of the UK’s digital markets competition regime and closes on 28 July 2026.

The CMA said Apple’s App Store is a key gateway for developers distributing native apps in the UK. Its proposal focuses on apps that sell digital goods and services, where developers are generally restricted from directing users to alternative offers or purchases outside Apple’s in-app payment system.

Under the proposed steering conduct requirement, Apple would have to allow developers to communicate with UK users and include redirection mechanisms, such as links or buttons, that lead to external websites for purchases.

Apple could still impose restrictions where they are strictly necessary and objectively justified, including to address malware, fraud, scams, unlawful content or content harmful to children.

The proposal would also regulate how external purchasing options are presented. Apple could use a single interstitial screen to inform users that they are leaving its in-app purchase system, but the screen would need to use neutral language and must not discourage users from completing transactions elsewhere.

The CMA is also proposing that any fee Apple charges on steered transactions must be fair and reasonable. It would also prohibit Apple from discriminating against developers that use redirection mechanisms, including through app review, search ranking, platform functionality or access to interoperability features.

The CMA said effective steering could give developers more control over pricing, billing, refunds and customer support, while giving users more choice and potentially lower prices.

Why does it matter?

The consultation shows the UK’s digital markets regime moving from platform designation to targeted behavioural rules. If adopted, the requirement could weaken Apple’s control over in-app transactions for digital goods and services in the UK and give developers more room to offer alternative payment channels. It also tests how the CMA will balance competition, consumer choice, security, privacy and platform investment under the new Strategic Market Status framework.

Would you like to learn more about AI, tech, and digital diplomacy? If so, ask our Diplo chatbot!

Australia’s ASIC extends digital asset licensing relief

Australia’s financial regulator, the Australian Securities and Investments Commission (ASIC), has extended its sector-wide no-action position for digital asset businesses until 30 September 2026, giving firms more time to apply for or vary an Australian Financial Services (AFS) licence. The extension is designed to support a smoother transition into the country’s evolving regulatory framework for digital assets.

The updated position also broadens the scope of relief to cover businesses operating under authorised representative arrangements or intermediary authorisations linked to AFS licence holders. ASIC said the changes are intended to provide greater regulatory certainty while maintaining investor protection and market integrity during the transition.

The extended timeline also applies to applications for Australian Market Licences and Clearing and Settlement facility licences. Firms must notify ASIC of their intention to apply and participate in a pre-application meeting before submitting an application.

ASIC said it has received around 30 licence applications since updating its guidance on digital assets and financial products in October 2025. According to the regulator, extending the no-action position gives firms additional time to adapt to Australia’s evolving Digital Asset Framework and clarified legal requirements.

Why does it matter?

The extension provides digital asset businesses with additional time to adapt to Australia’s evolving regulatory framework without disrupting existing operations. By pairing temporary regulatory flexibility with a clear licensing pathway, ASIC is seeking to encourage compliance while maintaining investor protection and market integrity.

The move also reflects a broader international trend in digital asset regulation. Rather than imposing immediate, sweeping requirements, regulators are increasingly using phased implementation and transitional relief to bring crypto businesses into established financial regulatory frameworks while reducing uncertainty for market participants.

Would you like to learn more about AI, tech, and digital diplomacy? If so, ask our chatbot!

OpenAI upgrades GPT-5.5 Instant conversation skills

OpenAI has updated GPT-5.5 Instant to make ChatGPT conversations more natural, useful and responsive to user intent.

According to the company’s release notes, the update is designed to improve conversational quality, especially when users are making decisions, asking for advice, planning, researching options or shopping.

OpenAI said GPT-5.5 Instant is now better at identifying the underlying goal behind a question and carrying context across multiple turns. The company also said the model follows complex instructions more reliably, including requests with several constraints or requirements.

The update is intended to make the model more adaptive during ongoing conversations. When users add constraints or push back on an answer, GPT-5.5 Instant should adjust its approach more effectively, rather than simply repeating its original response.

The change reflects a wider shift in consumer AI systems from one-off answer generation towards more context-aware and interactive assistance.

Why does it matter?

The update shows how competition in AI assistants is moving beyond raw accuracy and benchmark performance towards conversational quality. For everyday users, the ability to understand intent, track context, follow multiple constraints and respond well to feedback can determine whether AI tools feel genuinely useful in education, work, shopping, planning and customer support.

Would you like to learn more about AI, tech, and digital diplomacy? If so, ask our chatbot!

Diplo chatbot can make mistakes. Consider checking important information.