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Big Tech Compliance Tracker: Facebook Hints At EU Pullout Over Data Transfers Laws; Appeal Filed Over Apple’s $15B Tax Bill On Ireland Operations; In-App Billing Battle Rages On

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Regulations. SocialMediaToday reported that in early September, an EU “privacy regulator … sent Facebook a preliminary order to suspend data transfers to the U.S. Canadian Lawmakers Want Big Tech to Pay for Content, Taxes . EU Renews Demand for Back Taxes on Apple’s Ireland Ops. billion back-tax bill in Ireland.

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Facebook, Google Pressured In India Over Privacy, Taxes

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Govindacharya have asked lawmakers in India to call leaders of Google and Facebook to the country to ask them about data privacy and their compliance on tax laws, according to a report from Reuters. Some firms, Reuters reported, are taking another look at their policies and making changes to combat misinformation before voting begins.

Taxes 108
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Japan’s Central Bank Chief Presses For Global Effort To Regulate Libra 

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Bank of Japan Head Haruhiko Kuroda spoke to business leaders in Osaka about the importance of having a coordinated global plan to regulate Libra and other cryptocurrencies, Reuters reported on Tuesday (Sept. He urged policymakers to ensure that the highest level of regulation is applied to such assets.

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Facebook Invests $130M In Content Oversight Board

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The social media company is now reportedly investing $130 million to the effort, Engadget reported. It will have the role of handling such tasks as ensuring tax compliance, administering payroll and reviewing the annual budget of the board. Facebook has been at work creating a content oversight board over the past year.

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Tencent, Other Chinese Tech Firms Called Out For Privacy Violations

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A number of Chinese tech companies were ordered to clean up policies on the way their apps deal with user information or face penalties, according to an Associated Press report on Thursday (Dec. The tech companies cited included social media giant Tencent , Sina Corp., Sohu.com Ltd. and Xiaomi Corp.

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US Treasury Secretary Sees Libra As National Security Threat

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“Cryptocurrencies such as bitcoin have been exploited to support billions of dollars of illicit activity like cyber crime, tax evasion, extortion, ransomware, illicit drugs and human trafficking,” Mnuchin said, adding that he is “not comfortable today” with the social media giant’s planned launch.

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Japan To Investigate Libra’s Economic Impact

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The group is going to investigate how Libra will impact monetary policy, as well as the stability of the financial landscape. The group’s goal is to work on policies that will deal with how Libra is going to affect payments, monetary policy, regulation and taxes. He said he believes that Libra is “a big mistake.”.