Browsing Tag

regulation

7 posts

Australia ready to make strict laws for dealing with online trolls

 

  • Australia will introduce legislation to make social media giants provide details of users who post defamatory comments, Prime Minister Scott Morrison said on Sunday.
  • The government has been looking at the extent of the responsibility of platforms, such as Twitter and Facebook, for defamatory material published on their sites and comes after the country’s highest court ruled that publishers can be held liable for public comments on online forums.
  • “That is not what can happen in the real world, and there is no case for it to be able to be happening in the digital world.” – Morrison
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Parliamentary panel ready to adopt the draft report On Data Protection Bill

  • The draft report on the Data Protection Bill was referred to the parliamentary panel in December 2019.
  • A joint parliamentary committee has finalised the draft report on the Data Protection Bill after two years of deliberations and five extensions.
  • In July 2017, an expert committee on data protection was set up by the Ministry of Electronics and IT. Former Surpeme Court judge Justice BN Srikrishna headed the panel that proposed a personal data protection bill and submitted its report in July 2018.
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Indian PM Modi chaired the crypto meeting after consulting with RBI and the Finance Ministry

  • Indian Prime Minister Narendra Modi has reportedly chaired a comprehensive meeting on cryptocurrency and related issues in India.
  • The meeting was an outcome of a consultative process involving the central bank, the Reserve Bank of India (RBI), the Ministry of Finance, and the Home Ministry.
  • Also on Monday, India’s Parliamentary Standing Committee on Finance held a meeting with representatives from the crypto industry.
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Israel reportedly implements new Anti Money Laundering rules for crypto

  • Israel has reportedly enacted new regulations related to the cryptocurrency industry in order to combat illegal activities such a money laundering and terrorism financing.
  • The government of Israel enforced new Anti-Money Laundering regulations on Sunday, requiring local fintech companies and virtual currency service providers to obtain an operating license, local news agency Globes reported.
  • Shlomit Wagman, director of the Israel Money Laundering and Terror Financing Prohibition Authority, said that the new AML rules would help the country curb criminal usage of digital assets while also providing the industry with more support and legitimacy, The Jerusalem Post reported.
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Cryptocurrencies should be regulated rather than banned : Parliament panel members & experts

  • At a parliamentary panel meeting Monday on issues related to cryptofinance, a majority of industry experts and MPs spoke against banning cryptocurrency but stressed the need for regulation.
  • The parliamentary panel members also want to know the government’s stand on cryptocurrency.
  • The MP added that members also felt that there is a need to ensure that cryptocurrencies are not used illegally or for money laundering.
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The Russian Duma has formed a working group to address cryptocurrency mining regulations.

  • The Russian State Duma has created a working group that will tackle the complicated issue of forming regulations for the cryptocurrency mining industry.
  • The deputy said that the matter of Bitcoin mining regulation has become unavoidable, claiming that crypto miners earn $2 billion per year on which they pay no taxes and are thus mining at the expense of the country’s population.
  • As noted by local business publication RBC in September, Anatoly Aksakov – chairman of the Russian State Duma Committee on Financial Markets – recommended that the Duma regulate crypto mining under the laws governing entrepreneurial activities.
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White House and AI: Good Cop-Bad Cop-No Cop?

At the AI summit where 34 tech giants came together, technology policy man for Trump, Michael Kratsios has been, reportedly, assuring technology giants like Google, Intel, Nvidia and Apple that AI innovation would not be stifled with regulatory red-tape.

While focus on skills and research-funding, along with a pragmatic stance on regulations, would certainly be good for innovation; as rules that were meant for a different world would not be slapped mindlessly on a new era; yet, it would be imprudent to really wait to cross the bridge till it comes.
One of the many factors that will make sure AI leans towards utopia and not dystopia would be its adept regulation and direction. There is nothing like self-regulation but in addition or, worse, in absence of it, a good referee always helps.
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