The pandemic lockdown puts China in a love-hate relationship with Big Tech. The US SEC is increasing the hiring of crypto investigators. Update on the alleged tapping of the Spanish Prime Minister’s phone.
In one look.
- The pandemic lockdown puts China in a love-hate relationship with Big Tech.
- The US SEC is increasing the hiring of crypto investigators.
- Update on the alleged tapping of the Spanish Prime Minister’s phone.
The pandemic lockdown puts China in a love-hate relationship with Big Tech.
Bloomberg offers an overview of China’s recent Big Tech regulations and the impact of the latest COVID-19 lockdown on the relationship between government and tech companies. Recent regulations have led to a significant decline in the market value of many Chinese tech companies. That said, the industry has previously benefited from major government tax cuts that have apparently left government officials feeling empowered to ask these companies to support citizens during the latest wave of the pandemic, even if that aid means a loss of profits. Companies like Alibaba and JD.com have provided online platforms to support food distribution to confined residents, and those delivery services are likely costing businesses more than they see in return.
The US SEC is increasing the hiring of crypto investigators.
The United States Securities and Exchange Commission (SEC) announcement this week that it will recruit for twenty new positions in its Crypto Assets and Cyber unit. Created in 2017 to regulate the cryptocurrency industry, which had so far evaded most consumer protection rules, the unit investigates crypto fraud and other illicit activities. SEC Chairman Gary Gensler explains, “The Division of Enforcement’s Crypto Assets and Cyber Unit has successfully brought dozens of lawsuits against those who seek to take advantage of investors in the crypto markets. By nearly doubling the size of this key unit, the SEC will be better equipped to police wrongdoing in the crypto markets while continuing to identify cybersecurity disclosure and oversight issues. Like the Wall Street Journal Remarksthe commission has filed nearly a hundred lawsuits between 2013 and 2021. The additional investigators and litigants will bring the unit’s total staff to fifty, and they will soon have a new head, as the current head of the unit, Kristina Littman, has announced plans to release in June.
Update on the alleged tapping of the Spanish Prime Minister’s phone.
As we noted yesterday, the Spanish government revealed that the phones of Prime Minister Pedro Sánchez and Defense Minister Margarita Roble were infected with NSO Group’s controversial Pegasus surveillance software last year. last. PA News reports that the Spanish government reaffirmed yesterday that it had nothing to do with illicit surveillance. Cabinet spokeswoman Isabel Rodríguez promised officials would engage in “the fullest collaboration with judicial authorities, including declassifying relevant documents if deemed necessary.” She added: “In this case, as in many others, we have nothing to hide.” She may have been referring to the discovery earlier this month that Pegasus, along with spyware from the firm Candiriu, was being used to spy on separatists in Spain’s Catalonia region. The Guardian Remarks that this is just the latest Spanish contact with Pegasus, as last year Project Pegasus found more than two hundred Spanish mobile phone numbers on a list of suspected spyware targets. Although Spanish officials have been reluctant to speculate which NSO customers may be behind the surveillance, many believe Morocco may be linked to the Project Pegasus listing figures, as evidence has shown that the country had also listed dozens of French officials, including President Emmanuel. Macron, as potential targets.