China's State Administration for Market Regulation (SAMR) has proposed new rules to prevent food delivery platforms from misusing subsidies. The draft regulations aim to stop market disruption, selling goods at a loss, and forcing merchants into subsidy programs, addressing concerns about intense competition harming businesses, drivers, and consumers.
A new bill in Congress aims to establish a Federal Cryptocurrency Theft Task Force within the Justice Department, months after the disbandment of the National Cryptocurrency Enforcement Team (NCET). The proposal seeks to improve coordination for investigating and prosecuting crypto theft while keeping market regulation separate.
Tencent Holdings has received conditional approval to acquire online audio platform Ximalaya, expanding its footprint in China's digital content ecosystem
The CFTC filed a lawsuit against Wisconsin on Tuesday, becoming the fifth state sued by the federal regulator for attempting to regulate prediction markets through state gambling laws. The lawsuits target Polymarket, Kalshi, Coinbase, Robinhood, and Crypto.com over sports-related prediction markets. States argue these wagers are illegal gambling, while the CFTC contends they are event contracts under federal jurisdiction. The conflict spans both Democratic and Republican-led states, with the CFTC chaired by Trump appointee Mike Selig.
China’s top market regulator will launch a six-month crackdown on the country’s internet advertising sector, targeting malpractices including the misuse of artificial intelligence, in what it described as its first campaign to clean up the broader online advertising ecosystem. The State Administration for Market Regulation (SAMR) said on Thursday that the campaign comes as new risks – from AI misuse to traffic-driven marketing tactics – emerge alongside long-standing issues, even as data and...
China's market regulator fined seven tech platforms 3.6 billion yuan (US$528 million) after an antitrust probe revealed obstruction tactics. Investigators at Pinduoduo discovered a hidden office area, while PDD's security head led a group that stormed the site, hospitalizing an official with a head injury. A PDD employee was also caught passing and then swallowing notes with instructions to stay silent during questioning.
China’s State Administration for Market Regulation (SAMR) has levied more than 3.6 billion yuan (US$527.3 million) in fines on seven e-commerce and food delivery platforms and their representatives following an investigation, the regulator announced on Friday. SAMR said the seven platforms, which included retail and food delivery mainstays Pinduoduo (PDD), Meituan and JD.com, failed to properly verify food vendor licences and knowingly allowed unverified “ghost” catering services to operate. The...
