Shenzhen Proceeds With Proposed Knowledge Regulation
Here is the latest news from the technology industry that is increasingly being scrutinized around the world.
Shenzhen is proceeding with the proposed regulation on personal data
Shenzhen is proceeding with a proposed rule to protect personal information, the South China Morning Post reported. The data regulation for the Shenzhen Special Economic Zone is said to be China’s first local data mandate. The draft provides for new restrictions on how large technology companies are able to collect user information and use it with “increased penalties” for violations, as the newspaper says. The news comes that Beijing, Shanghai and Shenzhen city government agencies are all enacting their own local data laws, while two major national regulations are expected to be introduced in 2021.
USA reveals and suspends tariffs on tax investigations for digital services
U.S. Trade Representative Katherine Tai said the Section 301 investigations into Digital Service Taxes (DSTs) accepted by the UK, Turkey, Spain, Italy, India and Austria have been completed, according to an announcement.
The end result of the research is the imposition of further tariffs on some of these countries’ products, while tariffs are suspended for up to 180 days to allow more time to finalize multilateral talks on global taxation at the OECD and in the G20 process.
“The United States remains determined to reach consensus on international tax issues through the OECD and G20 processes. Today’s measures will give these negotiations time to move forward while retaining the option to impose Section 301 tariffs if warranted in the future, ”Tai said in the announcement.
FTC would increase funding under the Biden Plan by 11 percent
The Federal Trade Commission (FTC) would receive an 11 percent increase in funding, while the Justice Department Antitrust Division would receive a substantial increase under the potential budget presented by President Joe Biden, Reuters reported.
The Justice Department’s Antitrust Department budget would increase to $ 201 million, up 8.6 percent from $ 185 million. In addition, the FTC would increase the number of its employees to around 1,250 in fiscal year 2022.
Facebook hit with probes in UK and EU
Facebook is facing an investigation by the European Commission (EC) and an investigation by the UK Competition and Market Authority, both regarding the social media company’s use of information.
The European Commission launched its antitrust investigation on Friday (June 4th) and stated that it would investigate whether Facebook is violating the bloc’s competition rules “by using advertising data, particularly collected by advertisers, to communicate with them To compete in markets in which Facebook is active, such as advertising. “
In addition, the investigation should determine whether Facebook links the Facebook Marketplace to its social network in violation of EU competition rules.
Germany looks in Google News Showcase
According to a published report, the Bundeskartellamt (BKB), the competition regulator in Germany, has uncovered a third case against Google. His investigation puts Google News Showcase in the crosshairs. The product selects third-party content that is displayed in Google News, among other things. The technology company pays a license fee for the material.
“Working with Google can be an attractive option for publishers and other news providers and offer consumers new or improved information services. However, it must be ensured that this does not lead to discrimination against individual publishers. In addition, Google’s strong position in terms of access to end customers must not result in competing services from publishers or other news providers being pushed out of the market, ”said Andreas Mundt, President of the Federal Cartel Office, also known as FCO, said in a statement on April 4. June.
NEW PYMNTS DATA: CRYPTO CURRENCY PAYMENT STUDY – MAY 2021
About the course: U.S. consumers view cryptocurrency as more than just a store of value: 46 million plan to use it to make payments for everything from financial services to groceries. In the Cryptocurrency Payments Report, PYMNTS surveyed 8,008 users and non-users of cryptocurrencies in the US to investigate how they would like to use crypto for purchases, which crypto they would like to use – and how merchant adoption can affect merchant choice and consumer spending.