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Big Tech Compliance Tracker: Tencent Says Big Tech Needs Greater Oversight; Group Seeks To Block Maryland Online Ad Tax

PYMNTS

Group Seeks to Block Maryland Online Advertising Tax. Marylanders for Tax Fairness is preparing for a battle in January over the state’s attempt to make a digital advertising tax, the Baltimore Sun reported. Maryland legislators ratified the tax earlier in 2020, but Gov. Larry Hogan vetoed the levy.

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Bitcoin Daily: Brazil Debuts Blockchain Solution For Gov’t Bids; BitFunder CEO Gets 14 Months For Crypto Fraud

PYMNTS

Design and Cayenne Technology reportedly created the Online Bid Solution (SOL), which is said to be a technology based on the blockchain. The news is reportedly according to a slide deck from a cyber training session that discussed many ways that criminal investors might come across potential digital currency tax cheats.

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Economic Nexus Laws’ Unexpected Impacts On Restricted Substance Retailers

PYMNTS

eCommerce sales tax laws are having unintended consequences in the tobacco industry. These laws were meant to make online sellers face sales tax requirements similar to those for retailers with on-the-ground locations, putting both types of businesses on equal footing. in 2017 had a 52.75

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Big Tech Compliance Tracker: Google Faces Questions Over Digital Ads; Australian Watchdog Says Facebook’s Proposed Ban On News Sharing Would Be Its Loss

PYMNTS

European Commission Vice President Vera Jourova said the new European Democracy Action Plan aims to fight online disinformation that could influence elections in EU countries. EU Undecided Whether To Appeal Ruling Upholding Apple’s Irish Tax Breaks . EU Will Implement Digital Tax Next Year Unless Global Rules Pass .

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Big Tech Compliance Tracker: France Fines Amazon And Google $164 Million; Australia Warns Facebook And Google To Pay News Firms 

PYMNTS

Facebook and Google could face financial penalties in the millions of dollars if they don’t follow potential legislation introduced into the parliament of Australia that would require Big Tech to pay for news content that they show, The Washington Post reported. The legislation does not specify the manner in which a payment would be handled.

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11 Lessons From Startup Chapter 11s

CB Insights

The marketplace blended crowdsourcing and social media to create hype around new inventions; help inventors find partners, funding, and manufacturing resources; and sell their gadgets to major nationwide retailers such as Home Depot and Target. — Ben Kaufman, founder, Quirky. It tried to start manufacturing its own clothes.

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A Brief History Of Libra

PYMNTS

Tomorrow, July 16, Marcus will go to Washington for the first of what will likely be an ongoing series of meetings with global regulators and legislators. Both noted that while the rollout and media coverage has mainly focused on Libra as a “Facebook product,” that is not how they view the opportunity to sign on as a founding member.