In a ground-breaking legal decision, the Australian Securities and Investments Commission (ASIC) has secured its first court victory concerning a non-cash payment facility involving crypto assets. The Federal Court ruled against BPS Financial Pty Ltd (BPS), the company behind the crypto-asset token “Qoin”, marking a significant milestone in the regulation of digital financial products. The …
Continue reading “ASIC secures landmark victory against non-cash payment facility involving crypto”
The Australian Competition and Consumer Commission (ACCC) has released its third-quarter report, showcasing significant strides in combating scams across Australia. This period marks a pivotal moment with the establishment of the country’s first Fusion Cell, a collaborative initiative aimed at enhancing the detection, prevention, and disruption of investment scams. The report highlights a worrying rise …
Continue reading “ACCC anti-scam report reveals surge in investment scams”
The United States (US) has launched the United States’ International Cyberspace and Digital Policy Strategy. This Strategy underscores the US commitment to a free, open, secure, and resilient cyberspace, essential for economic prosperity and national security. The Strategy is premised on digital solidarity, referring to cooperation between public and private sectors. It focuses on a …
Continue reading “United States launches International Cyberspace and Digital Policy Strategy”
For the second time, Australia utilises its autonomous cyber sanctions framework under the Autonomous Sanctions Act 2011 (Cth) to impose a targeted financial sanction and travel ban on Dimitry Yuryevich Khoroshev. Dimitry is a Russian citizen who played a key role in the LockBit ransomware group. LockBit was responsible for 18% of reported ransomware incidents …
Continue reading “Cyber sanction imposed on Russian citizen for ransomware activity”
The Australian Parliament has launched an inquiry into the digital transformation of the workplace as technology is rapidly reshaping how we work, collaborate, and interact within organisational settings. The inquiry seeks to gather insights, feedback, and perspectives from a wide range of stakeholders, including businesses, employees, experts in employment law, and technology innovators. At the …
Continue reading “Parliament seeks feedback on digital transformation of the workplace”
In a collaborative effort to advance the fields of science and artificial intelligence (AI) safety, the United States and the United Kingdom have announced a strategic partnership. This partnership signifies a commitment to addressing critical issues surrounding AI ethics, governance, and safety measures. The partnership in technology and innovation between these two global leaders aims …
Continue reading “US and UK forge partnership for artificial intelligence testing”
China has announced new data export regulations that simplified the previous rules. The Cyberspace Administration of China unveiled the Provisions on Regulation and Promoting Cross-Border Data Flows, easing data export restrictions whilst ensuring data security and compliance meet international standards. One key aspect of the regulations is the requirement for companies to conduct security assessments …
Continue reading “China releases updated data export regime”
In a landmark move, Senate Commerce Committee Chairs Maria Cantwell and Cathy McMorris Rodgers have unveiled a draft of comprehensive data privacy legislation aimed at addressing key concerns surrounding data protection and consumer privacy rights. The American Privacy Rights Act marks a significant step towards establishing clear guidelines and standards for data handling practices across …
The Australian Competition and Consumer Commission (ACCC) has announced a new inquiry into internet search services, aiming to investigate competition dynamics and potential consumer impacts in the digital sector. The inquiry underscores the importance of understanding and addressing issues related to search engine market dominance and its implications for businesses and consumers. The ACCC’s inquiry …
Continue reading “ACCC launches inquiry into internet search”
The European Parliament approved the Cybersecurity Resilience Act in the European Union. This comprehensive legislation focuses on bolstering cybersecurity measures and fortifying digital infrastructures against cyber threats. The Act aims to address lacking standards in the EU, particularly regarding products that contain digital elements. Specific objectives include: Ensuring that manufacturers improve the security of products …
Continue reading “European Parliament votes in favour of Cybersecurity Resilience Act”
