REGULATOR
EU court adviser sides with regulators in Google's fight against EU antitrust fine
An adviser to Europe’s top court has recommended upholding a €4.1 billion fine against Google, imposed by EU antitrust regulators. The Court of Justice is expected to rule in the coming months. The fine relates to a longstanding antitrust case against Alphabet’s Google unit dating back seven years.
Circle, Coinbase shares soar as Senate clears path for stablecoin regulation
Circle shares closed up 33.8%. Coinbase ended 16% higher, while commission-free brokerage Robinhood, which offers crypto trading, gained 4.5%. The Republican-controlled House of Representatives must pass its version of the bill, known as the GENIUS Act, before it heads to President Donald Trump for approval.
Air India crash effects: Houses near airport will be demolished if... Check civil aviation regulator DGCA's new draft rules
Following the Air India crash that killed 241, including Vijay Rupani, the Ministry of Civil Aviation has released draft rules to tighten controls on structures near airports. The new regulations empower authorities to take action against buildings or trees exceeding height limits, requiring owners to respond to notices or face enforcement.
Circle, Coinbase shares soar as Senate clears path for stablecoin regulation
Circle shares closed up 33.8%. Coinbase ended 16% higher, while commission-free brokerage Robinhood, which offers crypto trading, gained 4.5%. The Republican-controlled House of Representatives must pass its version of the bill, known as the GENIUS Act, before it heads to President Donald Trump for approval.
Sebi eases regulations for startup founders and public sector cos to boost capital market
The Securities and Exchange Board of India (SEBI) has approved new rules. Startup founders can now hold employee stock options after listing. Alternative investment funds get co-investment opportunities. Public sector companies can voluntarily delist with relaxed norms. Foreign funds will benefit from eased investment rules. These changes aim to boost investment and simplify regulations for businesses in India.
Stablecoins' m-cap surges to a record $251 billion
Stablecoins' market capitalization reached a record $251.7 billion following the US Senate's approval of a bill to regulate the sector. This legislation, requiring stablecoins to be backed by liquid assets and issuers to disclose reserves monthly, aims to legitimize the growing crypto segment. Analysts anticipate further market expansion upon the bill's enactment.
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Sebi board meeting: Regulator eases IPO rules for start-up founders, mandates dematerialisation of securities
SEBI has relaxed ESOP rules for startup founders, allowing them to retain or exercise share-based benefits post-listing, provided they received them at least a year before filing the DRHP. To enhance market transparency, dematerialization of securities is now mandated for a wider range of stakeholders.
Sebi board meeting: Regulator approves PSU delisting, IPO reforms, dematerialisation of Securities. 10 key takeaways
Market regulator Securities and Exchange Board of India (Sebi) on Wednesday introduced special delisting route for PSUs with 90% or more government holding. In its 210th board meeting, the market regulator approved a slew of measures including dematerialisation of securities ahead of IPOs, Simplified disclosures for institutional placements and FPI rules for investments in G-Secs.
Sebi eases norms for foreign investors who only buy government bonds
India's markets regulator on Wednesday reduced the regulatory requirements for foreign investors who invest exclusively in the country's government bonds.
Government to tighten regulations governing seeds, pesticides amid quality-related complaints: Shivraj Singh Chouhan
Union Agriculture Minister Shivraj Singh Chouhan said that several farmers had raised concerns about the quality of seeds and pesticides during the Viksit Krishi Sankalp Abhiyan.
Malaysia trade ministry probing reports of Chinese firm's use of Nvidia AI chips
The ministry "is still in the process of verifying the matter with relevant agencies if any domestic law or regulation has been breached," it said in a statement.
Crypto bonanza as Senate approves GENIUS Bill, ushering in new era of federal stablecoin regulation
The US Senate has approved the GENIUS Act. It sets rules for stablecoins. The bill requires full reserve backing and monthly audits. It allows various firms to launch stablecoins. Senator Bill Hagerty calls it a move to modernize finance. The digital asset industry invested heavily in this Congress. The Act now goes to the House for further discussion.
Sebi bars Sanjiv Bhasin and 11 others for alleged stock manipulation
SEBI has barred Sanjiv Bhasin, ex-director at IIFL Securities, and 11 others for alleged stock manipulation. Bhasin reportedly bought securities before recommending them on media channels, profiting from subsequent price increases. He has been directed to disgorge ill-gotten gains of ₹11.37 crore following a Sebi investigation that uncovered evidence of fraudulent trading.
Why stablecoins are gaining popularity
Stablecoins -- a form of cryptocurrency backed by traditional assets -- are gaining traction, with the US Senate set to vote Tuesday on a bill to regulate such digital tokens. Another possibility is that a loss of trust in the stablecoin may ripple beyond the crypto world, hitting the assets that back these tokens.
'A sandwich has more regulation’: AI pioneer warns of dangerous lack of oversight in the advancement of artificial intelligence
In a powerful TED Talk, AI pioneer Yoshua Bengio warned that artificial intelligence is less regulated than a sandwich, despite its massive global impact. Highlighting rising risks and government inaction, Bengio urged immediate global collaboration and introduced his “Scientist AI” solution to prevent AI misuse—before humanity loses control of its most powerful invention.
China's civil servants banned from dining out in Xi's austerity drive
Beijing is intensifying its austerity drive, ordering civil servants to limit group dining after deaths linked to excessive drinking at banquets. New guidelines restrict gatherings and discourage "small cliques," sparking frustration among officials who feel increasingly scrutinized. While some welcome the regulations to avoid pressure to drink, others criticize the strict enforcement as government overreach.
Why are Indian MFs struggling to find skilled short-sellers?
Mutual funds in Mumbai are struggling to find experienced short-sellers. This is due to the rise of specialised investment funds. These funds require expertise in betting against stocks. A decade-long bull market has discouraged short-selling. Regulations and pay are also hindering recruitment. Experts believe the timing is right for long-short funds. They await regulatory easing for better performance.
As EU's green trade rules kick in, India works policy shifts
India is preparing for significant rulebook shifts across ministries to align with the EU's stricter 'green' regulations impacting trade. These regulations, set to take effect within a year, cover packaging, antibiotic use in livestock, deforestation-free products, and waste shipment. The changes necessitate comprehensive overhauls in various sectors to ensure continued trade with the EU.
Italy regulator probes DeepSeek over false information risks
Italy's antitrust authority has launched a probe into Chinese AI firm DeepSeek for allegedly failing to clearly warn users about potential false or misleading content generated by its chatbot, raising concerns over transparency and consumer protection. DeepSeek has not yet responded.
ETtech Explainer: How the ban on Karnataka's bike taxis affects gig workers, commuters
While Rapido and Uber have changed their bike taxi options to courier services on their apps, Ola has removed the option from its app. Users feel that the renaming has been done to escape the regulations. Per Shaik Salauddin, Telangana Gig and Platform Workers Union founder president, this non-transparent act puts the jobs of the gig workers involved at risk.
RBI issues draft norms on Rupee Interest Rate Derivatives
The Reserve Bank of India on Monday issued draft regulations for Rupee Interest Rate Derivatives to align the extant regulatory framework with the market and other related developments.
Protesters in Europe march against over-tourism, target tourists with water guns
Thousands protested across southern European cities, including Barcelona, Venice and Lisbon, against the detrimental effects of overtourism. Demonstrators voiced concerns about soaring housing costs and displacement, accusing uncontrolled tourism of ruining their cities. Protesters are urging for a radical decrease in tourist numbers and a shift towards alternative economic models that prioritize residents' well-being over tourism revenue.
Karnataka bike taxi pilots urge Rahul Gandhi and CM Siddaramaiah to intervene as ban kicks in
Bike taxi service providers in Karnataka are appealing to political leaders to lift the ban on their operations, which impacts over 100,000 gig workers. The High Court declined to stay the ban, urging the government to consider regulations. Nasscom supports bike taxis, stating that safety concerns can be addressed through proper rules and licensing, rather than a complete ban.
Q-comm’s discount push, startup hiring picks up
Quick commerce firms are offering record-high discounts at a time when cash burn and competition continue to rise. This and more in today’s ETtech Morning Dispatch.
Ecological rules are economic guard rails
The Supreme Court struck down a provision in the EIA Regulations 2020 that regularized environmental norm violations, addressing a long-standing issue of prioritizing economic activities over environmental well-being. This decision closes a loophole that incentivized non-compliance. The government must establish a transparent system to address violations and increase the cost of non-compliance, ensuring ecological and economic concerns are aligned.
AI tools collect and store data about you from all your devices, here's how to be aware of what you're revealing
AI tools are now embedded in daily life, collecting data through smart devices and platforms. While they offer convenience, all of this brings up serious privacy concerns for people and governments on how AI tools collect, store, use and transmit data.
Sebi sets minimum 2 PAC meets yearly for commodity exchanges
Markets regulator Sebi on Thursday directed stock exchanges with commodity segments to ensure their Product Advisory Committees (PACs) meet at least twice a year, or more frequently if necessary.
EU crypto regulation hampered by national flaws
The EU's MiCA regulation, designed to harmonize cryptocurrency oversight, faces challenges due to varying implementation across member states. Some nations are perceived as offering rapid approvals, potentially undermining the regulation's integrity. This disparity prompts concerns about a 'race to the bottom' and the potential for economic sovereignty issues as non-EU firms may dominate the market.
Financial sector regulators to work on universal KYC
Financial sector regulators, led by the RBI, are developing a universal KYC framework with the CKYCR to streamline verification processes. Nirmala Sitharaman urged regulators to ensure seamless KYC experiences for citizens and expedite refunds of unclaimed amounts through district-level camps. The FSDC also discussed strengthening cybersecurity and implementing budget announcements related to KYC simplification for NRIs, PIOs, and OCIs.
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