News digest 08.08.2022

News digest 08.08.2022

VPN restrictions in UAE

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VPN in the UAE is not illegal if it's used as per the guidelines of the UAE government and the Telecommunications and Digital Government Regulatory Authority (TDRA). However, using VPNs for illegal means or to commit a crime is a serious offense under the UAE Decree Law No (34) of 2021. People misusing VPNs could face imprisonment and a fine between Dh500,000 to Dh2 million. Among restricted activities are audio-video calls through popular apps, as well as dating apps, gambling, pornography, drugs, and VoIP websites.

Binance and Mastercard launch a prepaid card in Argentina

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Binance, the world's leading blockchain and cryptocurrency infrastructure provider, and Mastercard announce the launch of Binance Card in Argentina to bridge the gap between cryptocurrencies and everyday purchases. Argentina is the first country in Latin America to have the product. The Binance Card will allow all new and existing Binance users in Argentina with a valid national ID to make purchases and pay bills with cryptocurrencies, including Bitcoin and BNB, at over 90 million Mastercard merchants worldwide, both in-store and online.

Shopify makes $100M strategic investment in ECOMMERCE marketing automation startup Klaviyo

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E-commerce marketing automation platform Klaviyo has received a $100 million strategic investment from Shopify, according to documents filed with the U.S. Securities and Exchange Commission. The disclosure coincided with the announcement that Klaviyo and Shopify will strengthen their existing partnership by making Klaviyo the recommended email product for Shopify’s premium merchant plan, Shopify Plus while granting Klaviyo early access to in-development Shopify features.

Japan abandons CBDC project

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The Bank of Japan (BoJ) has announced it will be abandoning its planned host of central bank digital currency (CBDC) services due to a reported lack of public interest. While Japan is seen as an innovator, especially in the technological sector, there are still aspects of life in the country that remain stuck in the past, as the country values tradition.

Facebook axes live shopping to focus on Reels

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Facebook is shutting down its live shopping ambitions in the app in an effort to shift its focus to Reels. The company said it would no longer support native livestream shopping in the app nor the option to create or tag products. In a blog post, Meta wrote: “As consumers’ viewing behaviors are shifting to short-form video, we are shifting our focus to Reels on Facebook and Instagram, Meta’s short-form video product.

Meta is expanding NFT support on Instagram to 100 countries

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Meta CEO Mark Zuckerberg announced today that the company is beginning its international expansion of NFT support on Instagram. The expansion follows the social network’s initial NFT test launch in May. With this expansion, users and businesses in more than 100 countries in Africa, Asia-Pacific, the Middle East and the Americas will now be able to share their NFTs on Instagram.

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