European Commission Reviews Child Safety Measures on Snapchat, YouTube, and App Stores

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The European Commission has begun reviewing how platforms such as Snapchat, YouTube, Apple’s App Store, and Google Play protect minors online under the EU’s Digital Services Act (DSA). The investigation focuses on whether these companies’ safeguards are sufficient to prevent young users from being exposed to illegal products or harmful content.

The Commission has requested detailed information on age verification tools and on how the platforms block access to content promoting illegal substances, including drugs and vapes, as well as to material that could encourage eating disorders.

EU technology chief Henna Virkkunen said the assessment, carried out in cooperation with national authorities, aims to determine whether platforms are truly protecting children.

Google stated it already enforces “robust parental controls” and offers “age-appropriate experiences” across its platforms. “We keep expanding these efforts and continue to engage with the Commission on this critical area,” a Google spokesperson said.

The DSA, which came into full effect in 2024, imposes strict obligations on digital platforms to identify and mitigate risks linked to illegal or harmful content — marking one of the EU’s strongest steps toward regulating online safety for minors.

Major Banks Explore Launch of Stablecoin Pegged to G7 Currencies

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Ten of the world’s largest banks — including Bank of America, Deutsche Bank, Goldman Sachs, UBS, Citi, MUFG, Barclays, TD Bank, Santander, and BNP Paribas — are collaborating to explore the creation of a stablecoin pegged to G7 currencies. The initiative marks another major step by traditional finance to adapt to the rapidly expanding digital asset sector.

The banks said the project, still in its early stages, aims to evaluate the potential of blockchain-based tokens backed 1:1 by real-world currencies. The goal is to determine whether a shared stablecoin system could combine the efficiency of digital assets with robust regulatory compliance and sound risk management.

This move follows renewed enthusiasm for stablecoins, driven by a resurgence in cryptocurrency markets and U.S. President Donald Trump’s open support for the sector. Yet global regulators remain cautious. Bank of England Governor Andrew Bailey and ECB President Christine Lagarde have both warned that private stablecoins could threaten financial stability and monetary policy.

Currently, stablecoins are mainly used within crypto markets rather than for everyday payments — about 90% of transactions involve crypto trading, according to BCG. The market leader, Tether, holds a dominant $179 billion share out of $310 billion in circulation.

As the global banking industry races to explore blockchain innovation, rival European lenders are also forming new consortiums, including one working on a euro-denominated stablecoin backed by ING and UniCredit.

China opens antitrust probe into Qualcomm over its Autotalks deal

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China’s State Administration for Market Regulation (SAMR) has launched an antitrust investigation into U.S. semiconductor giant Qualcomm over its acquisition of Israel’s Autotalks. The regulator said it would examine whether Qualcomm violated Chinese competition laws by failing to properly declare details of the transaction.

Following the announcement, Qualcomm shares dropped more than 5%, as U.S. President Donald Trump threatened new tariffs against China and hinted at cancelling a planned meeting with President Xi Jinping. The probe adds new pressure to both countries’ tech sectors amid an escalating rivalry in artificial intelligence and semiconductor technology.

Qualcomm completed its Autotalks deal in June, integrating the Israeli company’s V2X (vehicle-to-everything) communication technology into its Snapdragon car platform. Analysts suggest that Beijing’s move might go beyond a “no-harm” early filing penalty, signaling potential economic leverage on U.S. chip and auto supply chains.

The case follows China’s recent accusations against Nvidia for breaching anti-monopoly rules. With 46% of Qualcomm’s 2024 fiscal revenue coming from Chinese customers, analysts warn the investigation could intensify investor concerns about geopolitical and regulatory risks in the semiconductor industry.