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  • Thailand Lifts Alcohol Ban on Five Buddhist Holidays at Airports and Hotels, Boosting Tourism Appeal

    Thailand Lifts Alcohol Ban on Five Buddhist Holidays at Airports and Hotels, Boosting Tourism Appeal

    Thailand is stepping into a new era for travelers, as the government embarks on a journey to boost tourism by allowing limited alcohol sales during five prominent Buddhist holidays. Specifically, from Saturday, international airports, hotels, venues hosting major events, and select nightlife spots will welcome patrons looking to raise a glass—even on days traditionally marked by sobriety.

    Selected Venues, Select Days

    However, not every establishment will be joining the celebration; the rule relaxation is strategically aimed at specific locations rather than a blanket policy. In a statement reported by the Bangkok Post, government spokesman Jirayu Houngsub emphasized that the change is part of the “Amazing Thailand Grand Tourism and Sports Year 2025” campaign, aimed at providing a much-needed boost to the tourism industry. “It will directly benefit businesses in the tourism sector,” he noted.

    Despite its reputation as a premier tourist hotspot known for stunning beaches, lively nightlife, and being the only Southeast Asian nation to decriminalize cannabis, Thailand has often left visitors scratching their heads. Tourists frequently encounter closed bars during religious holidays, even amid peak travel seasons.

    A Cautious Celebration

    People’s Party MP Taopiphop Limjittrakorn, a notable advocate for liberalizing Thailand’s alcohol laws, urged caution in celebrating this change. He pointed out that the ban on alcohol sales persists for many retail outlets. “Roadside food stalls, convenience stores, and supermarkets are not included in the new announcement. They still cannot sell alcohol,” he shared on Facebook.

    In recent months, Thailand has taken significant steps toward relaxing restrictions in the alcohol sector. Earlier this year, lawmakers in the House of Representatives passed an amended alcohol control bill, repealing an outdated 1972 military decree that prohibited alcohol sales before 11 a.m. and during certain afternoon hours. This exciting legislation is currently making its way through the Senate, paving the way for further changes in the beverage industry.

    Who knows—maybe soon, you’ll be sipping a cold one during sunset by the beach, even on a holiday!

    Questions & Answers

    What are the specific locations where alcohol sales will be allowed during Buddhist holidays?
    Alcohol sales will be permitted at international airports, hotels, venues hosting major events, and select nightlife spots.

    Why was this change implemented?
    The change is part of the “Amazing Thailand Grand Tourism and Sports Year 2025” campaign aimed at stimulating the tourism sector and benefiting related businesses.

    Are all businesses allowed to sell alcohol during these holidays?
    No, the new regulations only apply to select locations, and many places like roadside food stalls, convenience stores, and supermarkets will still be prohibited from selling alcohol.

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  • Apple says it will invest $100 million in Indonesia if the country ends iPhone 16 sales ban

    Apple says it will invest $100 million in Indonesia if the country ends iPhone 16 sales ban

    Back in October 2024 word got out that Apple was facing an iPhone 16 sales ban in Indonesia. Ministers in the country demanded that Apple renew a certificate that is issued when at least 40% of the components used in a device sold in Indonesia are sourced from the country. The last certificate Apple received for the iPhone has expired and needs to be renewed. To renew the certificate Apple will need to work out deals with local manufacturers, develop an app in the country, or work out an innovation development scheme.

    Apple is also a little shy of the investment in the country it previously promised which was supposed to add up to 1.71 trillion rupiah ($109.6 million). Thus far, Apple has invested 1.48 trillion rupiah ($94.53 million) in Indonesia which is slightly short of the amount the tech giant said it would invest. As a result, Apple has been unable to sell any of the four new iPhone 16 models in Indonesia and that will continue to be the case until Apple agrees to increase its investment in the country and receive a new certificate.

    Apple has started to work out an innovation development scheme by creating Apple Academies in the area. So far three of these have been built with a fourth one announced last April. The Academies are for aspiring app developers.

    With the sales ban, those Indonesians wanting to buy an iPhone 16 model will have to pick up the device overseas and at the same time, add on an import fee. The base iPhone 16 model, priced at S$1,299 ($994) will require an additional import fee of $155 to bring the phone from Singapore to Indonesia.

    According to a new report, Apple has increased its offer to invest $100 million in Indonesia, Southeast Asia’s largest economy, over the next two years. That is a huge increase of 10 times Apple’s previous proposal to invest $10 million in a factory in Bandung, located southeast of Jakarta, that would make accessories and components. While Indonesia has yet to give an answer to Apple’s latest proposal, the Ministry of Industry wants Apple to focus more on research and development for the iPhones released in the country.

    Indonesia has also blocked the sale of Google’s Pixel 9 handsets in the country for a similar lack of investment in the country on Google’s part. There is plenty of potential for both Apple and Google to make thins right in Indonesia. More than half of the country’s population of 278 million consumers is under 44 years old and is considered tech savvy.

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  • The TikTok ban could hurt small businesses that prosper thanks to mobile users

    The TikTok ban could hurt small businesses that prosper thanks to mobile users

    The Bill that would Kill TikTok is signed by the POTUS (President of the United States), so ByteDance, TikTok’s parent company, has only several months before it decides whether to sell or face a ban in the US.

    So far, the smoke signals coming from ByteDance’s yard rule out a possible divestiture. They don’t want anybody else to get a hold of their magical algorithm that gets hundreds of millions of users hooked.

    Reuters reports that a lawsuit filed by a group of TikTok creators has ignited a contentious legal battle against the bill. The law, aimed at addressing national security concerns, has left millions of users and small business owners in distress, fearing the loss of a platform that has become integral to their livelihoods.

    The creators, hailing from diverse backgrounds and professions, argue that TikTok provides them with a unique avenue for self-expression and community building. Represented by Davis Wright Tremaine LLP, they contend that the law infringes upon their First Amendment rights and poses a threat to free speech by attempting to shutter a vital medium of communication.

    In response, the White House has defended the law, asserting that it aligns with constitutional limitations and addresses critical national security concerns. The Justice Department has vowed to defend the legislation in court, emphasizing its importance in safeguarding sensitive data and protecting American interests.

    This legal showdown is not the first time TikTok has faced regulatory challenges. Under the Trump administration, similar attempts to ban the app were met with resistance and legal action. Now, with a new administration in power, the battle rages on, with TikTok and its creators fighting to preserve their presence in the American digital landscape.

    For small business owners like Paul Tran and his wife Lynda, TikTok has been a game-changer. Their skincare brand gained widespread recognition after going viral on the platform, propelling their business to new heights.

    Tran’s sentiments are echoed by many small business owners who have found success on TikTok. The platform’s algorithm-driven approach has leveled the playing field, allowing creators to reach a broader audience and drive sales. With the introduction of TikTok Shop, which enables direct sales within the app, businesses have seen unprecedented growth and opportunity.

    The impact of TikTok extends beyond just business success; it has become a cultural phenomenon, shaping trends and influencing consumer behavior. For creators like Summer Lucille and Felicia Jackson, TikTok has provided a platform to showcase their products and connect with customers in ways that traditional social media platforms could not replicate.

    As the legal battle unfolds, the fate of TikTok hangs in the balance. While concerns about national security are paramount, the implications of a TikTok ban extend far beyond just data protection. For millions of users and small business owners, TikTok represents not just a social media platform, but a lifeline to opportunity and community.

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  • India’s rice export ban gives Vietnam golden y

    India’s rice export ban gives Vietnam golden y

    Vietnam’s rice exporters could raise prices and sign long-term contracts with buyers now that India, the world’s largest supplier, has ordered an export halt.

    Indian government on July 20 announced a ban on non-basmati white rice as retail rice prices climbed 3% in a month after heavy monsoon rains caused significant damage to crops.

    India accounts for more than 40% of world rice exports, and non-basmati white and broken rice accounted for around 10 million tons of a total of 22 million tons of Indian rice exports last year, according to the U.S. Department of Agriculture. With the ban taking effect, global insiders have raised concerns about food price rises.

    Professor Vo Tong Xuan, an economist and expert in rice farming, said given the situation, the second half of the year will offer a golden opportunity for Vietnamese rice exports.

    In the first half of the year, the average export price of Vietnamese rice increased by 11% to US$539 a ton.

    After this ban, Xuan thinks the price could be as high as $600 per ton on average and high-quality varieties that can be sold at $700 a ton.

    The professor said India’s sudden export ban will “create big impacts” on importing countries because they cannot find replacing rice shipments from countries with small supply.

    Therefore, Vietnam and Thailand will be their next destinations. He forecast that Vietnam’s export turnover in the second half of this year could increase dramatically.

    The director of a rice export company in Can Tho said that in July, the company’s rice export orders increased by 20% from the previous month and by 30% compared to the same period last year.

    “Two days after the news that India banned rice exports, many buyers have asked us to sign them long-term contracts to ensure supply, but we’re still considering the offer,” said the director.

    He added that in the first half of this year, the company’s rice export price increased by 22% over the same period last year.

    After the ban, he forecasted that export prices could increase by 30-40% compared to last year.

    The Rice Exporters Association says that rice is a staple for more than 3 billion people, and nearly 90% of the water-intensive crop is produced in Asia, where the El Nino weather pattern usually brings lower rainfall. Global prices are already hovering at their highest level in 11 years.

    According to official data, India’s rice shipments reached a record 22.2 million tons in 2022, more than the combined shipments of the world’s next four biggest exporters of the grain – Thailand, Vietnam, Pakistan and the U.S. India exports rice to more than 140 countries.

    Nguyen Duy Thuan, CEO of Loc Troi Group, agrees that India’s ban on rice exports is an opportunity for rice-exporting countries and that Vietnam can take advantage of this opportunity to act as a sustainable rice supply source for the international food market.

    However, he noted that Vietnamese rice still has many challenges to face in terms of quality and export scale.

    “In particular, farmers are yet to have access to high-quality varieties and therefore the rice yield has not reached the optimal level,” Thuan said.

    Meanwhile, their farming techniques are still limited, resulting in many fertilizers and pesticides, affecting the rice’s quality and the environment.

    In addition, the large-scale management capacity of Vietnam’s rice industry is still limited, Thuan added.

    Thuan suggested that Vietnamese rice needs to improve quality and traceability in the supply chain to gain trust from consumers and regulators.

    Professor Xuan said the government needs to take specific actions to monitor planting areas and create favorable legal corridors to support businesses.

    “At the moment, in order to secure a large rice output for export, businesses need to associate long-term cooperation with traders and farmers, and ensure benefits for them,” Xuan said.

    With import partners, businesses should ask them to sign long-term contracts to ensure stable export activities and also help farmers feel more secure in production.

    Forecasting for this year’s supply, Xuan said that Vietnam has quite favorable weather and the yield could be high. He said that Vietnam can produce nine million tons of rice this year.

    Data from the Ministry of Agriculture and Rural Development shows that rice exports in the first six months reached 4.27 million tons in volume and $2.3 billion in value, up 22.2% and 34.7%, respectively against the same period last year.

    The U.S. Department of Agriculture has raised its forecast for Vietnam’s rice exports 2023 to 7.2 million tons, up from 7.05 million tons in 2022. Vietnam will rank third in the world in rice exports this year, after India and Thailand.

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  • Bill to ban TikTok in the U.S. takes its first steps toward the White House

    Bill to ban TikTok in the U.S. takes its first steps toward the White House

    on Tuesday Republicans on the U.S. House Foreign Affairs Committee took short-form video app TikTok closer to its final tick in the U.S. Concerned about reports that TikTok collects personal data from its U.S. subscribers, and might even collect keystrokes from those using TikTok’s  in-app browser, legislation that would result in the ban of TikTok on all U.S. mobile devices has advanced.
    The legislation would give President Joe Biden the authority to ban the popular app in the U.S. Committee Chairman Michael McCaul (R-Texas) said, “Everybody knows what TikTok is. It’s too dangerous to be on our phones as members of Congress.I think, it’s too dangerous to be on our children’s phones. That’s the whole point of this bill.” The U.S. in December banned TikTok from government-owned phones.
    McCaul’s DATA Act (H.R. 1153) advanced out of committee by a vote of 24 to 16. Voting on the proposed bill was split along party lines with the 24 votes in favor of moving the legislation along coming from all of the Republicans on the committee while the 16 dissenting votes came from all of the Democrats on the committee. McCaul said that he hoped the voting isn’t the start of a breakdown in bipartisanship when it comes to Chinese technology.
    In 2021, TikTok hit one billion monthly users, and last August, a survey revealed that 67% of teens in the states use TikTok and 16% use it constantly. Insider Intelligence says that TikTok owns 2.3% of the digital ad market behind heavyweights like Google, Facebook, Amazon, and Alibaba. The company is owned by Chinese firm Byte Dance, and while it denies any ties with Beijing’s spying operations, like other Chinese companies it must agree to comply with all requests from the country’s intelligence agency.
    In a statement, TikTok says, “A U.S. ban on TikTok is a ban on the export of American culture and values to the billion-plus people who use our service worldwide. We’re disappointed to see this rushed piece of legislation move forward, despite its considerable negative impact on the free speech rights of millions of Americans who use and love TikTok.”
    The bill has a long road ahead of it. If it gets voted out of the Republican-controlled House, it would still need to be voted on in the Democrat-controlled Senate which could be a problem. And should the bill pass the Senate, it would then require the president to sign the bill, or he could veto it. If Biden does the latter, the veto can be overturned with a two-thirds
    vote from members of the House and Senate.
    A few years ago, when Donald Trump was president, a deal was reportedly in place that would have seen Oracle and Walmart buy the app’s U.S. operations from TikTok owner ByteDance. But the deal never got done and Trump turned his attention toward more pressing matters such as the upcoming presidential election. But Needham analyst Laura Martin says that this time a deal could be finalized.
    While the platform could be weakened, “it wouldn’t just disappear and get shut down,” Martin said. She also said that “Implications are great for anybody that has been losing market share to TikTok.” Martin picked Snapchat, Facebook, and YouTube as platforms that would be big winners if TikTok gets banned in the U.S.
    Another analyst, JMP’s Andrew Boone, said that if TikTok is banned in the states, Facebook would be a big winner because of the money that parent company Meta has been throwing at Facebook’s TikTok rival Reels. Boone also noted that “If TikTok were to go away, I think that there would be a lot more consumption of Instagram Reels.” The analyst also says that Snapchat’s Spotlight and YouTube Shorts would both benefit from the disappearance of TikTok.
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  • China Intensfies Crypto Ban

    China Intensfies Crypto Ban

    China is ramping up its cryptocurrency prohibition efforts again with a directive issued by ten institutions last Friday covering a range of activities including offshore transactions and hiring.

    All crypto transactions in China are banned, according to authorities in a statement that highlighted examples such as Tether, Bitcoin and Ether.

    Banned crypto-related activities extend to services provided by offshore exchanges to domestic residents.

    The statement was issued by the People’s Bank of China alongside nine other institutions that included the supreme court, the police and the internet and securities watchdogs.

    The nation’s top economic planning agency asking local officials to investigate abnormal power usage, call in loans and eliminate preferential tax treatment to accelerate the shutdown of mining operations.

    In addition, crypto platforms will also be forbidden to hire locally for roles like marketing, tech and payment, limiting their ability to serve Chinese customers.

    The latest efforts are part of an ongoing crackdown that traces back to September 2017 when authorities first banned initial coin offerings in China.

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  • South Korea set to ban Google, Apple in-app payment dominance

    South Korea set to ban Google, Apple in-app payment dominance

    South Korea is likely to bar Google and Apple from requiring software developers to use their payment systems, effectively stopping them from charging commissions on in-app purchases, the first such curbs on the tech companies by a major economy.

    An amendment of the Telecommunications Business Act, dubbed the “Anti-Google law,” that takes aim at app store operators with dominant market positions, is being considered by lawmakers in South Korea, who have pushed the issue of the commission structure since mid-2020.

    In a statement, Apple said the bill “will put users who purchase digital goods from other sources at risk of fraud, undermine their privacy protections, make it difficult to manage their purchases.”

    The iPhone maker said it believes “user trust in App Store purchases will decrease as a result of this proposal — leading to fewer opportunities for the over 482,000 registered developers in Korea who have earned more than KRW8.55 trillion to date with Apple.”

    Adam Hodge, the spokesman for the U.S. Trade Representative’s office, said U.S. officials were still considering how to balance the views of the U.S. tech companies with the Biden administration’s push to increase competition in the industry.

    “We are engaging a range of stakeholders to gather facts as legislation is considered in Korea, recognizing the need to distinguish between discrimination against American companies and promoting competition,” Hodge said.

    Both Apple and Google have faced global criticism because they require software developers using their app stores to use proprietary in-app payment systems that charge commissions of up to 30% on in-app purchases.

    “For gaming apps, Google has been forcing app developers to use its own payment system … and it wants to expand its policy to other apps like music or webtoon,” said Kwon Se-hwa, a general manager at the Korea Internet Corporations Association, a nonprofit group representing Korean IT firms.

    “If the new bill becomes the law, developers will have options to use other independent payment systems,” Kwon said.

    Naomi Wilson, vice president of policy for Asia at the Information Technology Industry Council, a trade group that includes Apple and Google, said the legislation would violate South Korea’s multilateral and bilateral trade commitments.

    “If enacted, the bill would present challenges both for app developers and app stores seeking to do business in the Korean market,” she said, urging Korean legislators to re-examine the obligations for app markets and ensure they do not disproportionately affect U.S. companies.

    The European Union last year proposed the Digital Markets Act, taking aim at app store commissions. The rules are designed to affect large companies, but some European lawmakers are in favor of tightening them to specifically target American technology giants.

    Earlier this month in the United States, a bipartisan trio of senators introduced a bill that would rein in app stores of companies that they said exert too much market control, including Apple and Google.

    In South Korea, the home market of Android phone maker Samsung Electronics, Google Play Store earned revenue of nearly 6 trillion won ($5.15 billion) in 2019, according to a government report published last year.

    Earlier this year, Google said it would lower the service fee it charges developers on its app store from 30% to 15% on the first $1 million they earn in revenue in a year. Apple has made similar moves.

    For Apple too, commissions from in-app purchases are a key part of its $53.8 billion services business and are a major expense for some app developers.

    In May, an antitrust lawsuit filed by the maker of the popular game Fortnite against Apple revealed that the game maker paid $100 million in commissions to Apple over two years.

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  • Singapore Relaxes Border Restrictions for Travellers

    Singapore Relaxes Border Restrictions for Travellers

    The city-state will reopen its borders to fully vaccinated travelers from certain countries and is removing stay-home requirements for short-term visitors from several countries.

    Fully vaccinated travelers from Germany and Brunei will be able to come to Singapore without serving a stay-home notice, under a new Vaccinated Travel Lane arrangement announced on Thursday.

    At the same time, all travelers from Hong Kong and Macau, Mainland China, New Zealand and Taiwan, regardless of vaccination status, can enter without serving a stay-home notice, the Civil Aviation Authority of Singapore (CAAS) said.

    Vaccinated Travel Lane visitors will have to meet a set of criteria that includes taking designated flights that serve only vaccinated travelers, not transiting elsewhere, and undergoing PCR tests while in Singapore. Those who arrive on flights not under the Vaccinated Travel Lane will be subject to prevailing quarantine measures upon arrival, CAAS said.

    In response to the relaxed border measures, Singapore Airlines will operate five weekly Vaccinated Travel Lane flights from Frankfurt and Munich beginning September 7.

    Lufthansa, will also increase its flights to Singapore to three weekly, up from one currently – two of these will be for the designated Vaccinated Travel Lane.

    Separately, the Ministry of Transport announced that Singapore and Hong Kong have agreed not to pursue further discussions on the air travel bubble, owing to differences between the two cities in their strategy for managing the Covid-19 pandemic.

    «Both parties agreed that it would not be possible to launch or sustain the air travel bubble in its present form,» the announcement said.

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  • Xiaomi Wins Ban Reversal

    Xiaomi Wins Ban Reversal

    Xiaomi and the U.S. government have come to an agreement to remove the Chinese smartphone giant from a blacklist of military-linked companies.

    The U.S. Defense Department agreed in a final order to remove the «Communist Chinese Military Company» designation for Xiaomi, according to a court filing.

    The Parties have agreed upon a path forward that would resolve this litigation without the need for contested briefing, according to the filing.

    Negotiations over specific terms are underway and a separate joint proposal will be filed before May 20.

    Earlier this year, Xiaomi sued the U.S. government over the bans, calling the designations «factually incorrect» with no evidence to back the claims.

    In March, U.S. District Judge Rudolph Contreras said Xiaomi was likely to win a reversal to declare the designation as illegal and issued a ban halt to prevent irreparable harm at the smartphone firm.

    Still, the U.S. government said it remained concerned about investments into military-linked firms in China.

    The Biden Administration is deeply concerned about potential U.S. investments in companies linked to the Chinese military and fully committed to keeping up the pressure on such companies, said White House National Security Council spokesperson Emily Horne.

    Xiaomi’s removal from the blacklist occurs less than one week after the Biden administration was reportedly maintaining pressure on China by preserving some restrictions issued by the Donald Trump administration with preliminary discussions underway about military-linked bans.

  • HSBC Adds Coinbase to Crypto Ban List

    HSBC Adds Coinbase to Crypto Ban List

    Despite the growing embrace of cryptocurrencies among institutions and retail investors, HSBC is sticking to its policy of avoiding virtual currencies and stocks correlated to them.

    Europe’s largest bank in Europe, with total assets of $2.715 trillion, is likely to avoid Coinbase’s newly listed COIN stock because of lingering worries about crypto’s role in money laundering and criminal activity.

    HSBC has no appetite for direct exposure to virtual currencies and limited appetite to facilitate products or securities that derive their value from virtual currencies. This is not a new policy, Ankit Patel, HSBC corporate media relations manager, told crypto news platform Coindesk.

    Last week, the bank confirmed that it stopped customers of its online trading platform InvestDirect from adding MicroStrategy stock to their portfolios, calling them a «virtual currency product.» The company holds about $5.5 billion in bitcoin, or about 80 percent of its $6.8 billion market capitalization.

    Coinbase debuted on Nasdaq last Wednesday in a direct listing, in what was seen as another key step towards cryptocurrencies becoming a mainstream medium of exchange.

    The listing of Coinbase’s means that even if average investors don’t want to buy or sell cryptocurrencies on their own, they can still can invest in the cryptocurrency economy by taking a stake in one of its biggest players. After a day of trading, the U.S.’ largest cryptocurrency exchange had a market capitalization of $86 billion.

    To stay competitive amid client demand for digital assets, financial sector giants have ramped out their offerings. These include BNY Mellon, which announced the introduction of crypto custodial services and Morgan Stanley, which will roll out a bitcoin offering to wealth management clients and is reportedly mulling exposure in Bitcoin through its investment arm, Counterpoint Global. Goldman Sachs has also said it would offer investments in bitcoin and other digital assets to its wealth clients.

    Outside of the U.S., notable global banks that have also launched crypto offerings include Standard Chartered and DBS.

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  • U.S. Court Reverses Trump Ban on Xiaomi

    U.S. Court Reverses Trump Ban on Xiaomi

    Smartphone giant Xiaomi has been awarded a temporary block for its ban over links with the Chinese military, citing the original move as «arbitrary and capricious».

    U.S. District Judge Rudolph Contreras issued a temporary halt to the ban, claiming that Xiaomi was deprived of the rights for due process and that Xiaomi was likely to win a full reversal of the ban.

    The court is somewhat skeptical that weighty national security interests are actually implicated here, said Contreras on the originally stated concerns by the former administration when issuing the ban.

    In response, Xiaomi will look to continue to request that the court declare its blacklisting as unlawful and permanently remove the designation, according to a statement from the Chinese smartphone company.

    Since Joe Biden took over the White House, an increasing number of firms have pushed back against bans issued by the former Trump administration.

    In addition to Xiaomi, Chinese data firm Luokung Technology said it would sue the U.S. government earlier this month over what it described as an unjustified ban while Boston-based State Street Global Advisors reversed an initial decision against investing in sanctioned entities in the renowned ‘Tracker Fund’ in  Hong Kong.

  • India Proposes Crypto Ban and E-Rupee Plans

    India Proposes Crypto Ban and E-Rupee Plans

    Indian authorities plan to propose a new law to ban private cryptocurrencies and implement a framework for an official central bank digital currency.

    India will seek «to prohibit all private cryptocurrencies in India», according to a legislative agenda published by the lower house’s website on Friday last wee, with exceptions for certain purposes such as the promotion of the underlying technology and its uses.

    In addition, lawmakers will look to «create a facilitative framework for the creation of the official digital currency to be issued by the Reserve Bank of India (RBI).

    Not unlike other central banks, the RBI has been accelerating efforts to launch its own electronic money and tighten regulation against cryptocurrencies. It first issued an order in April 2018 to cut ties with all individuals or businesses dealing in digital currencies like Bitcoins within three months.

    But India’s Supreme Court subsequently overturned the ban by allowing banks to handle crypto transactions from exchanges and traders.

    The pushback reflects broader shifts in sentiments worldwide, particularly amongst banks that have been demonstrating increasing openness to cryptocurrencies.

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  • Trump takes one last shot at maiming Huawei before he leaves the White House this week

    Trump takes one last shot at maiming Huawei before he leaves the White House this week

    Even though President Donald Trump will be leaving the White House this coming Wednesday, he took the time to spank the Chinese phone and networking equipment manufacturer Huawei one last time. In May 2019, Trump cited security issues for his decision to put Huawei on the Entity List. This move prevented the firm from accessing its U.S. suppliers without permission from the Commerce Department. Despite this move which resulted in the loss of Google as a supplier, Huawei persevered; for a brief period of time this year, it was the top phone manufacturer on the planet in terms of shipments.

    Exactly one year to the day that it was placed on the Entity List, Huawei received another big blow from the Trump administration. Starting last September, any foundry manufacturing chips using American-sourced technology needs a license from the U.S. to ship to Huawei. The latter was the second-largest customer of the world’s largest foundry, TSMC, and was blocked from receiving cutting-edge chips that it had designed itself. The U.S. also browbeat its allies over the last few years in an attempt to prevent them from using Huawei’s networking equipment on their 5G networks.

    American lawmakers were quick to call Huawei a national security risk because of the company’s alleged tie to the Communist Chinese government. Concerns that Huawei’s phones and base stations contain backdoors used to spy on U.S. consumers and corporations have never been proven. The U.S. also banned rural carriers from using the Universal Service Fund (managed by the FCC) to purchase networking gear from Huawei and is forcing these firms to remove any Huawei equipment used in their networks.

    In the final days of the Trump administration, licenses allowing U.S. firms to sell to the Chinese manufacturer are being revoked and applications from U.S. suppliers to obtain such licenses are being rejected. Reuters has seen an email sent from the Semiconductor Industry Association (SIA) that documents the Commerce Department’s recent actions. In the email, the SIA notes that the Commerce Department had released “intents to deny a significant number of license requests for exports to Huawei and a revocation of at least one previously issued license.” The SIA email stated that a broad range of products was included in the latest action and many U.S. companies have been waiting months to hear whether they would be allowed to sell to Huawei. More than 150 license requests were pending amounting to $120 billion worth of goods and technology.

    Just last week, the Trump administration blacklisted Chinese phone manufacturer Xiaomi by demanding that U.S. investors divest themselves from any investments made in the company by November 11th, 2021.

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  • TikTok to battle executive order banning U.S. firms from having transactions with the app

    TikTok to battle executive order banning U.S. firms from having transactions with the app

    Short-form video app TikTok will begin a legal challenge to President Donald Trump’s campaign to ban the popular app in the states. TikTok has over 100 million users in the U.S. and has been installed over 2 billion times worldwide from the App Store and the Google Play Store. Favored by teens, TikTok has given bored kids something to do while stuck at home during the pandemic. Content on TikTok lasts 15 or 60 seconds and includes members lip-syncing to hit songs, dancing, doing comedy bits, and protesting hot button issues.

    An executive order signed by Trump on August 14th ordered TikTok’s Chinese based parent DanceByte to sell off its U.S. operations in 90 days. In his order, Trump said that there is “credible evidence that leads me to believe that ByteDance … might take action that threatens to impair the national security of the United States.” Some U.S. companies that have announced an interest in buying the app’s U.S. operations include Microsoft, Oracle, and Twitter. Apple was rumored to have an interest in TikTik but later denied it. Trump has hinted that any purchase of TikTok by a U.S. company might need to include a payment to the U.S. government adding up to a “substantial portion” of the transaction amount. Considering that TikTok’s value has been estimated at a figure as high as $150 billion, the U.S. portion of the business alone might generate a large sum for the U.S. government.

    TikTok plans on challenging an earlier executive order signed by the president on August 6th that requires Commerce Secretary Wilbur Ross to draw up a list of transactions involving ByteDance that should be banned after 45 days. The order relied on the International Emergency Economic Powers Act and thus deprived it of due process. TikTok also will challenge the White House’s defining TikTok as a national security threat.

    However, even if ByteDance is able to challenge the August 6th order, it will still have to divest itself of TikTok’s U.S. operations or face a ban. That’s because the August 14th order does not face a judicial review. Under the earlier order, U.S. companies could be blocked from advertising on the site, TikTok employees in the states might not be allowed to get paid, and landlords might even be forced to evict TikTok workers from any property they leased or rented to them. Additionally, the U.S. could force TikTok to be defended by attorneys from outside of the country.

    Earlier this month, TikTok said that it might fight back against the Trump administration by arguing that the executive order was rushed out, blindsiding the company. Normally, a company being targeted by the Feds receives a subpoena and has a confidential meeting with the DOJ. Where TikTok plans on filing its lawsuit as soon as Monday is unknown. While the company previously said that it would explore its legal options, employees were said to be considering their own separate lawsuit.

    If TikTok is banned in the U.S., there could be some backlash by users of voting age who might feel compelled to vote this November. Meanwhile, other apps have already started to debut features similar to TikTok. For example, Instagram has already launched Reels, and a new app similar to TikTok called Clash was released months ahead of expectations.

    For those wondering whether the president has the authority to issue the executive orders, White House press secretary Kayleigh McEnany said that a 1977 law allows the president to regulate interstate commerce to safeguard the country from unusual events. McEnany said, “The administration is committed to protecting the American people from all cyber threats.” She noted that apps like TikTok “collect significant amounts of private data on users.”

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  • Huawei lawsuit against ‘unconstitutional’ ban in the US is thrown out

    Huawei lawsuit against ‘unconstitutional’ ban in the US is thrown out

    A judge has ruled against a lawsuit filed by Huawei in the US relating to a ban on government personnel using the company’s devices.

    Huawei filed the lawsuit on the basis that the ban was “unconstitutional” back in 2018. Since then, Huawei has faced increased US-led scrutiny globally over claims the company is controlled by Beijing – an allegation the company denies.

    US District Court Judge Amos Mazzant ruled that Congress has the right to ban federal agencies from using equipment manufactured by specific firms.

    In a 57-page ruling on Tuesday, Mazzant wrote: “Contracting with the federal government is a privilege, not a constitutionally guaranteed right—at least not as far as this court is aware.”

    Huawei is now considering its options and said in a statement the “approach taken by the US Government in the 2019 NDAA provides a false sense of protection while undermining Huawei’s constitutional rights.”

    Earlier this month, the Department of Justice charged Huawei and its subsidiaries with racketeering and conspiracy to steal trade secrets.

    Last week, a bipartisan US delegation voiced their concerns about Huawei during this year’s Munich Security Conference.

    Secretary of State Mike Pompeo claimed that Huawei, and other firms backed by Beijing, are “trojan horses for Chinese intelligence”. Meanwhile, Defense Secretary Mark Esper said China is conducting a “nefarious strategy” through companies like Huawei.

    From the other side of the House, Republican Speaker Nancy Pelosi said the use of Chinese telecoms equipment would be “choosing autocracy over democracy” and “putting the state police in the pocket of every consumer in these countries”.

    February is typically a great month for those in telecoms as it’s a time when everyone convenes at MWC in Barcelona to show off their latest technologies, make deals, and celebrate the industry. Of course, this year’s MWC has been canceled over fears about the spread of the deadly coronavirus.

    The best recent news for Huawei arrived last month when the UK government announced it will be allowing the company to have a “limited role” in national 5G networks following a comprehensive security review.

    Huawei will be hoping for fewer months like February for the rest of 2020.