SEBI may turn to social media monitoring: Report
As part of its efforts to crack down on insider trading, the Securities and Exchange Board of India is looking to approach the government for powers to intercept and decrypt messages on platforms such as WhatsApp and Telegram, The Economic Times reported citing sources.
Crypto meltdown wipes away $200 billion in one day
Crypto market investors lost more than $200 billion in wealth within just 24 hours as a result of a massive sell-off that was propelled by the collapse of the TerraUSD stablecoin, Bloomberg said in its report. Bitcoin fell by as much as 10% in the last day to its lowest level in 16 months, while Ether was down by 16%.
US tech firms asked to store proof of possible Russian war crimes
The CEOs of YouTube, TikTok, Twitter, and Meta have been urged by US lawmakers to maintain archives of content that could potentially serve as digital evidence of Russia committing war crimes against Ukraine, Reuters reported.
Coinbase CEO ‘misplaced’ blame on RBI: Report
A few days after Coinbase was launched in India, the popular crypto exchange had to suspend its UPI payment option, and recently CEO Brian Armstrong lay the blame for that at the RBI’s door. But Armstrong’s ‘informal pressure’ charge appears to be misplaced as the National Payments Corporation of India (NPCI) operates UPI, central bank sources told Economic Times.
Zomato rethinks 10-minute deliveries after test run
According to the Economic Times, Zomato Instant hasn’t gotten off to a great start as delivery workers were unsuccessful in completing orders within ten minutes during a pilot in Gurgaon. While the food delivery platform ponders changing tack, the rollout of Instant in Bengaluru is on pause.
Government set to overhaul Competition Act
India’s competition regulator might be due for a makeover as the Ministry of Corporate Affairs is looking to amend the Competition Act over the monsoon session of Parliament in July. The law is being updated to reflect the disruption caused by the digital economy, which has led to new ways of examining tie-ups and marketing arrangements, as per Mint.
Future Retail gets extension to file reply in insolvency proceedings
The Mumbai bench of the National Company Law Tribunal (NCLT) has allowed Future Retail more time to respond to the insolvency petition moved by the Bank of India against the company under Section 7 of the Insolvency and Bankruptcy Code (IBC). The next hearing is scheduled for June 6, Business Standard revealed in its report. Meanwhile, Amazon which owns a 49% equity in Future Coupons, the promoter entity of Future Retail, has opposed the insolvency proceedings and filed an intervention application.
Google rolls out prepaid app subscription capabilities
In order to earn more revenue, app developers can offer users a prepaid subscription option that will provide limited access to their apps on the Google Play Store. “Prepaid plans allow you to reach users in regions where pay-as-you-go is standard, including India and Southeast Asia,” Google said in a statement.
Reliance Jio sees subscriber gains after a three-month decline
Jio, which has reported a decline in new subscribers for the past three months, added 1.26 million subscribers in March 2022, data from the Telecom Regulatory Authority of India (TRAI) revealed. Meanwhile, rival Bharti Airtel’s subscriber base continued to swell with an additional 2.25 million new subscribers, and Vodafone Idea reported that 2.81 million subscribers dropped off its network.
- Coinbase Pins Blame For Disabling UPI Option On RBI Pressure
- SEBI Takes Action Against 6 People Accused Of Using Telegram To Manipulate Stock Market
- Zomato triggers debate on worker protections with 10-minute food delivery
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