Roundup – India scraps personal data bill and EU watchdog gears up
EU securities watchdog to gear up with crypto data
The European Union securities watchdog is set to increase scrutiny of crypto transactions after agreeing to rules that regulate what it named a “Wild West” sector. The European Securities and Markets Authority (ESMA) said it will monitor the “big players” in the EU, while other crypto-asset firms will be licensed by national regulators. ESMA has launched a public procurement request to suppliers of trading data on crypto transactions, excluding blockchain and the distributed ledger technology.
“The coverage should encompass all major exchanges and crypto assets so that it provides a fair representation of the crypto market landscape,” ESMA said in its notice.
UK regulator u-turns over Avast-Norton cyber security deal
The UK’s Competition and Markets Authority have given the nod to a merger between Avast and NortonLifeLock, following a u-turn by the regulator.
The CMA agreed the deal on Wednesday, even though it previously highlighted concerns over the impact of the merger, such as cutting back competitors and lifting consumer costs. In its preliminary probe, it noted that a lack of rivals could result in a “worse deal for customers when looking for cyber security software”.
Kirstin Baker, chair of the CMA inquiry group, said: “… we are currently satisfied that this deal won’t worsen the options available to consumers. As such, we have provisionally concluded that the deal can go ahead.”
India ditches personal data bill that alarmed tech giants
The Indian government has withdrawn its Personal Data Protection Bill that received aversion from several privacy advocates and tech giants who feared it would restrict their management over sensitive information while handing the government power to access it. The government will now work on a “comprehensive legal framework” and present a new bill, according to India’s Junior IT Minister Rajeev Chandrasekhar.
Nikhil Pahwa, editor of MediaNama, which covers policy and media, said in a series of posts on Twitter that he hopes “the bill isn’t junked altogether… Junking the bill altogether will create a limbo of sorts from a privacy protection standpoint. Nobody wants that.”
Musk’s Twitter countersuit due by Friday as hostility grows
Chancellor Kathleen McCormick of Delaware Chancery Court, the presiding judge in the Twitter and Elon Musk trial, ruled on Wednesday that the countersuit shall be made public by the afternoon of 5 August, two days later than Musk wanted.
The decision was made after Twitter accused Musk of trying to release his 163-page countersuit on Wednesday without giving it a chance to redact, or black out, confidential information about the company. Musk’s lawyers accused Twitter of trying to bury “the side of the story it does not want publicly disclosed”, however said on 29 July that three business days were enough.
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