A Russian court has imposed an 8 billion rouble ($78 million) fine on Google for failing to comply with previous penalties related to administrative offences, according to the Moscow courts’ press service. The fine marks a sharp increase from the usual smaller penalties issued to foreign tech companies operating in Russia.
Russia has repeatedly demanded that foreign platforms, including YouTube, remove content it deems illegal. Critics argue that the government’s pressure on YouTube, once a major platform in Russia, is aimed at limiting access to dissenting voices. YouTube’s daily users in Russia have plummeted from 50 million to 12 million amid growing restrictions and alleged speed disruptions.
The Kremlin denies any deliberate interference with YouTube, instead blaming Google for failing to upgrade its infrastructure in the country, a claim the tech giant disputes. Meanwhile, President Vladimir Putin has accused Google of acting as a tool for US political influence, further straining relations.
Thailand’s Securities and Exchange Commission (SEC) is considering approving exchange-traded funds (ETFs) that invest directly in Bitcoin, aiming to expand its growing cryptocurrency market. This decision, reported on 15 January, reflects Thailand’s efforts to keep pace with nations like Singapore, Hong Kong, and the US, which are advancing in cryptocurrency regulation and innovation.
The move comes as the country experiences a surge in crypto trading activity. As of November 2024, active trading accounts more than doubled to 270,000 compared to the previous month. Acknowledging the sector’s importance, SEC Secretary-General Pornanong Budsaratragoon stated that the goal is to provide investors with diverse crypto options under proper regulatory protections.
Thailand is also exploring broader crypto adoption initiatives. Alongside potential Bitcoin ETFs, the SEC is evaluating the issuance of stablecoins backed by corporate bonds to improve access to debt markets. Meanwhile, the government continues to tackle illegal operations, such as the recent closure of an unauthorised Bitcoin mining farm in Chonburi.
In addition, a pilot project proposed by former Prime Minister Thaksin Shinawatra aims to introduce Bitcoin payments in Phuket, particularly for tourists. With such developments, Thailand hopes to position itself as a leading hub in the Asia-Pacific region for crypto innovation.
Indonesia plans to implement interim guidelines to protect children on social media as it works toward creating a law to establish a minimum age for users, a senior communications ministry official announced on Wednesday. The move follows discussions between Communications Minister Meutya Hafid and President Prabowo Subianto, aiming to address concerns about online safety for children.
The proposed law will mirror recent regulations in Australia, which banned children under 16 from accessing social media platforms like Instagram, Facebook, and TikTok, penalising tech companies that fail to comply. In the meantime, Indonesia will issue regulations requiring platforms to follow child protection guidelines, focusing on shielding children from harmful content while still allowing access to some degree.
Public opinion on the initiative is divided. While parents like Nurmayanti support stricter controls to reduce exposure to harmful material, human rights advocates, including Anis Hidayah, urge caution to ensure children’s access to information is not unduly restricted. A recent survey revealed nearly half of Indonesian children under 12 use the internet, with many accessing social media platforms such as Facebook, Instagram, and TikTok.
This regulatory push reflects Indonesia’s broader efforts to balance digital innovation with safeguarding younger users in its rapidly growing online landscape
Nvidia faces significant revenue pressure following new US restrictions on artificial intelligence chip exports. The regulations, aimed at limiting the distribution of advanced processors to most countries outside close US allies, are intended to prevent China from accessing technology that could strengthen its military capabilities. Analysts warn these curbs could hinder Nvidia’s growth, as nearly half of its chip sales could be affected.
A substantial portion of Nvidia’s revenue comes from global markets, with 56% of sales outside the US and China accounting for around 17%. The company’s stock dropped by 2% following the announcement. Nvidia Vice President of Government Affairs Ned Finkle argued the restrictions could stifle global innovation and weaken US leadership in AI development by imposing bureaucratic control over chip design and marketing.
Industry experts believe major cloud providers such as Microsoft, Google, and Amazon could benefit from the new rules. These firms may receive exemptions for data centre development, allowing them to expand market share as AI leaders. Their financial strength and advanced infrastructure make them well-positioned to thrive under the revised framework.
Uncertainty remains over the long-term impact of the export curbs, with the rules set to take effect in 120 days. Some analysts suggest the incoming Trump administration might revise the policy, potentially negotiating new deals with individual firms and countries while maintaining a focus on national security.
Apple’s latest charges for app developers are under fresh scrutiny from the European Union’s antitrust regulators. Concerns have been raised over the company’s new ‘core technology fee,’ which requires developers to pay €0.50 per installed app. Regulators are investigating whether the fee could increase costs for software makers or force them to change their business models.
The European Commission has circulated new questionnaires to developers, seeking insights on the financial impact of the fee and Apple’s claim that the changes will lower costs for most developers. The inquiry comes as major US tech companies urge President-elect Donald Trump to challenge EU regulations targeting American firms. Apple has not yet responded to the EU’s latest investigation.
Under the EU’s Digital Markets Act (DMA), Apple must comply with stricter rules on how it operates its App Store. The legislation allows regulators to fine major tech platforms up to 10% of their annual revenue for non-compliance. Apple, which has faced ongoing scrutiny in both the US and Europe over developer fees, says that 85% of developers using its App Store do not pay any commission.
Allstate is facing a lawsuit from the state of Texas over claims that it secretly tracked millions of drivers through their mobile phones without consent. Texas Attorney General Ken Paxton alleges that the insurer collected location data through apps like GasBuddy and Life360 to create a vast driving behaviour database. The data was then used to raise insurance premiums, deny coverage, or sell to other insurers for profit.
The lawsuit also claims Allstate recently started purchasing vehicle location data directly from manufacturers, including Toyota, Mazda, and Stellantis brands like Jeep and Dodge. Texas accuses the company of violating state laws on data privacy and deceptive insurance practices. Prosecutors are seeking financial penalties, consumer restitution, and the destruction of unlawfully obtained data.
General Motors faced a similar lawsuit from Texas last year over allegations of secretly collecting and selling driver data. Allstate, headquartered in Illinois, has yet to respond to the claims. If found guilty, the company could face significant fines and legal consequences.
Intesa Sanpaolo, Italy’s largest bank, has made headlines by purchasing 11 Bitcoins for €1 million, marking a significant step in the nation’s financial history. The investment makes it the first Italian bank to directly acquire cryptocurrency, setting a potential precedent for others in the country’s financial sector.
Confirmation of the purchase came after an internal email from the bank was leaked online, reportedly signed by Niccolò Bardoscia, head of its Trading and Investment division for Digital Assets. However, the bank has refrained from commenting on its motivations or whether this move signals a broader strategy involving digital assets.
This investment aligns with the bank’s ongoing exploration of blockchain technologies. Intesa Sanpaolo previously underwrote a €25 million blockchain bond in July 2024 and introduced cryptocurrency spot trading last November. As global institutions increasingly embrace Bitcoin, this move solidifies the bank’s role as a leader in digital asset adoption within Europe.
The European Commission is reassessing its investigations into major tech companies, including Apple, Meta, and Google, under its landmark Digital Markets Act (DMA), according to the Financial Times. The review, which covers cases initiated since March 2024, comes as tech giants urge President-elect Donald Trump to push back against EU regulatory scrutiny. Sources suggest Trump’s presidency has influenced the review, though it was not the direct trigger.
The DMA, implemented in 2022, seeks to curb the dominance of Big Tech by imposing strict rules on their practices and fines of up to 10% of annual revenue for violations. The review may lead to narrowing or altering the scope of current probes, with all decisions and potential fines paused during this process. Technical work on the cases, however, will continue.
This development coincides with Meta’s recent overhaul of its US fact-checking program and CEO Mark Zuckerberg’s signals of a more conciliatory stance toward the Trump administration. Meanwhile, EU regulators are also examining whether Elon Musk’s social media platform X has violated content moderation rules, further highlighting the tech industry’s complex regulatory challenges.
Tether, the leading stablecoin issuer, has announced plans to establish its headquarters in El Salvador, making it the company’s first physical base. CEO Paolo Ardoino confirmed that he, along with the company’s cofounders, will also move their residences to the Central American nation. This decision follows Tether’s licensing as a digital asset service provider in the country.
While most of Tether’s staff will remain remote, the firm aims to hire 100 Salvadorans over the next few years. El Salvador has positioned itself as a hub for cryptocurrency innovation since adopting Bitcoin as legal tender in 2021. President Nayib Bukele welcomed Tether’s decision, further cementing the nation’s role in global crypto adoption.
Tether’s USDT stablecoin accounts for two-thirds of the $212 billion stablecoin market, but regulatory scrutiny around stablecoins remains high. The company claims its reserves are primarily held with Wall Street firm Cantor Fitzgerald, as questions about transparency persist. Tether’s move to El Salvador signals its confidence in the country’s supportive crypto ecosystem amid growing global interest in digital assets.
The US Supreme Court has rejected Meta’s attempt to block a massive class action lawsuit by advertisers accusing the company of inflating audience metrics. Advertisers claim Meta, the parent company of Facebook and Instagram, overstated the number of potential ad viewers, resulting in significant overcharges.
A lower court ruled that advertisers could seek damages collectively, stating Meta’s conduct was consistent across all affected parties. Plaintiffs, led by DZ Reserve and Cain Maxwell, argue Meta exaggerated potential audience figures by as much as 400%, focusing on social media accounts rather than unique users.
Meta challenged the decision, stating courts have rejected the ‘common course of conduct’ standard and that individual advertisers may not have relied on the figures. The company further criticised the court for excessive leniency when certifying class actions.
Potential damages could exceed $7 billion, covering millions of advertisers since 2014. Advertising remains Meta’s primary revenue source, with $116.1 billion generated in the first nine months of 2024.
