Russian brokerage Finam is set to launch structured notes linked to BlackRock’s iShares Bitcoin Trust ETF (IBIT), providing qualified investors in Russia with exposure to Bitcoin ETFs. The new investment product, available from 17 February, will be one of the first IBIT-based structured notes with a six-month maturity period.
The IBIT bond will be denominated in Russian roubles, with returns calculated in dollar equivalents based on the Bank of Russia’s exchange rate. Investors stand to earn up to 20% in returns if the ETF price at maturity exceeds the initial launch price by at least one basis point. The minimum investment is 200,000 roubles ($2,200), and the brokerage will charge a 1% commission.
Finam’s move comes amid regulatory uncertainty in Russia. While there is no explicit ban on crypto ETFs as underlying assets for structured bonds, the legal framework remains ambiguous. The country has, however, been warming to Bitcoin, with the Finance Minister confirming in December 2024 that Russian legislation permits foreign trade using Bitcoin and other digital financial assets.
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Taiwan’s GlobalWafers confirmed on Friday that its investments in the US are proceeding as planned, despite potential changes under the US CHIPS Act. The company has been awarded $406 million in government grants to expand its silicon wafer production in Texas and Missouri. However, the Biden administration is considering changes to some CHIPS Act funding, which has raised concerns for GlobalWafers, as sources indicated there could be delays or renegotiations of some semiconductor-related disbursements.
GlobalWafers CEO Doris Hsu stated that the company has not yet received any notifications regarding changes to its subsidy terms. She emphasised that, if adjustments to the CHIPS Act do occur, the company would need to reassess its investment strategy in the US. Hsu added that the decision would depend on factors such as US demand, pricing conditions, and potential tariffs, though she noted that these scenarios are still hypothetical at this stage.
The company is moving forward with its expansion plans across three US plants, with funding tied to specific milestones. Hsu reassured that the planned investments are continuing according to schedule, with no immediate changes to the company’s strategy. GlobalWafers remains optimistic about its US operations, bolstered by its existing factories in the country and its strong global presence.
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The European Union has dismissed claims that recent decisions to scale back planned AI regulations were influenced by pressure from the US Trump administration. The bloc recently scrapped the AI Liability Directive, a draft law intended to make it easier for consumers to sue over AI-related harms. EU digital chief Henna Virkkunen stated that the move was driven by a desire to enhance competitiveness by reducing bureaucracy and regulatory burdens.
Washington has encouraged a more lenient approach to AI rules, with US Vice President JD Vance urging European lawmakers to embrace the ”AI opportunity” during a speech in Paris.
The timing of the European Commission‘s 2025 work programme release—one day after Vance’s remarks—has fuelled speculation about US influence over the bloc’s regulatory decisions. However, the EU insists that its focus remains on fostering regional AI development rather than bowing to external pressure.
The upcoming AI code of practice will align reporting requirements with existing AI legislation, ensuring a streamlined regulatory framework. The Commission’s work programme emphasises a ”bolder, simpler, faste” approach, aiming to accelerate AI adoption across Europe while maintaining regulatory oversight.
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Donald Trump announced plans to impose tariffs on Canada and France in response to their digital services taxes on US technology companies. The former president criticised the taxes as unfair, arguing that only the United States should have the right to tax its own firms.
Canada began implementing the levy last year to ensure companies like Alphabet and Amazon contribute fairly despite often booking profits in low-tax jurisdictions.
Trump directed his economic team to develop a strategy for reciprocal tariffs against any country imposing duties on US imports. A White House fact sheet claimed that Canada and France each collect over $500 million annually from US firms through digital taxes, costing American businesses more than $2 billion per year. The statement argued that retaliatory tariffs would restore fairness to global trade.
The digital tax dispute has been a long-standing issue, with Washington previously challenging Canada’s approach under Joe Biden’s administration.
The United States had sought trade dispute consultations, calling the tax discriminatory. The office of Canadian Prime Minister Justin Trudeau has not yet commented on Trump’s latest tariff proposal.
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The UK government has partnered with AI startup Anthropic to explore the use of its chatbot, Claude, in public services. The collaboration aims to improve access to public information and streamline interactions for citizens.
The initiative aligns with Prime Minister Keir Starmer’s ambition to establish the UK as a leader in AI and enhance public service efficiency through innovative technologies.
Technology minister Peter Kyle highlighted the importance of this partnership, emphasising its role in positioning the UK as a hub for advanced AI development.
Claude has already been employed by the European Parliament to simplify access to its archives, demonstrating its potential in reducing time for document retrieval and analysis.
This step underscores Britain’s commitment to leveraging cutting-edge AI for the benefit of individuals and businesses nationwide.
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The meeting also explored ways to strengthen cooperation in emerging technologies, entrepreneurship, and governance, according to India‘s foreign ministry. Modi’s visit to the United States has brought key discussions on commercial space activities and technological collaboration between the two countries.
Starlink’s potential entry into the Indian market was reportedly a key topic of discussion. The satellite internet provider has long sought to operate in India but has faced regulatory challenges and opposition from local competitors, including billionaire Mukesh Ambani’s company.
The Indian government has supported Musk’s stance that satellite spectrum should be assigned rather than auctioned, but Starlink’s licence application remains under review.
India’s decision on Starlink could reshape the country’s satellite internet sector and influence its position in the global space race.
SpaceX‘s dominance in satellite launches and internet services has already impacted global markets, and its expansion into India would be a significant step in its international growth. Musk continues to act as a crucial link between world leaders and SpaceX, which plays a key role in the Western space industry.
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Apple is preparing to introduce its AI features to iPhones in China by mid-year. Efforts include significant software adaptations and collaboration with local partners to meet the country’s unique requirements.
Teams based in China and the US are actively working to customise the Apple Intelligence platform for the region. Insiders suggest the launch could happen as early as May, provided technical and regulatory challenges are resolved.
Regulatory compliance remains a critical hurdle for Apple. The project reflects the company’s growing emphasis on localising its technology for key international markets, including China.
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Meta has announced a new programme allowing rival classified ad providers to list their adverts on Facebook Marketplace, following a €797 million EU antitrust fine for unfair competition.
The European Commission ruled in November that Meta had given its own service an unfair advantage by tying Marketplace to Facebook and imposing restrictive trading conditions on competitors.
The company has challenged the fine in court but says the new initiative, called the Facebook Marketplace Partner Program, is a response to EU competition concerns.
The programme was tested last month in Germany, France, and the United States in partnership with eBay. Under the scheme, third-party online classified ad services can display their listings on Facebook Marketplace alongside user-generated listings.
Meta maintains that the EU’s decision unfairly targets US companies, with CEO Mark Zuckerberg previously describing EU actions as akin to a “tariff regime.”
The European Commission is now reviewing whether Meta has fully complied with the ruling. If found lacking, the company could face further scrutiny and potential penalties. The move marks a significant shift in how Marketplace operates, potentially reshaping competition in the online classified ads sector.
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The Trump administration is reevaluating the conditions of CHIPS and Science Act subsidies, which allocate $39 billion to boost domestic semiconductor production. Sources indicate that ongoing projects under the 2022 law are being reviewed for compliance with new policy priorities, potentially leading to renegotiations or delays.
GlobalWafers, a Taiwanese company set to receive $406 million for projects in Texas and Missouri, noted that Washington has not yet communicated any changes.
However, new White House policies are reportedly under review, including those related to unionised labour and childcare for factory workers. Each subsidy agreement has unique milestones that recipients must meet to secure funding.
Concerns over companies expanding operations in China despite receiving CHIPS funding have also emerged. Intel, for example, announced a $300 million investment in a Chinese facility after receiving substantial subsidies.
The Semiconductor Industry Association has expressed its willingness to collaborate with the Trump administration to streamline program requirements and maintain progress.
Industry giants such as TSMC, Samsung, and Intel continue to navigate the shifting landscape of the CHIPS Act, with no immediate clarity on how changes will affect existing agreements. The White House has yet to respond to requests for further comment on these developments.
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A federal judge in Washington, DC has temporarily halted the US Securities and Exchange Commission’s lawsuit against Binance. The 60-day pause comes after both the SEC and the cryptocurrency exchange requested time to explore a resolution, citing the potential impact of a newly created SEC task force.
The task force, launched last month, focuses on reviewing cryptocurrency regulations and is led by Commissioner Hester Peirce, known for her pro-crypto stance.
The initiative may pave the way for progress in resolving the case, which accused Binance of inflating trading volumes, misusing customer funds, and misleading investors.
The lawsuit, filed in June 2023, targeted Binance and its founder Changpeng Zhao for alleged regulatory violations. The exchange has denied wrongdoing but continues to face scrutiny from US regulators.
A potential leadership change at the SEC could also influence the case. Paul Atkins, nominated by Donald Trump to lead the agency, is seen as supportive of the cryptocurrency industry. He would replace Gary Gensler, who has taken a stricter approach to crypto regulation.
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