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Brazil 🇧🇷 Lifts Ban on Messaging App 📱 Telegram
Brazil lifted its ban on Telegram just two days after the country’s Supreme Court blocked the messaging app on March 18 for failing to comply with the court’s order.
On March 21, Supreme Court Judge Alexandre de Moraes, who had earlier ordered a ban on messaging app Telegram in Brazil, reversed the ruling after the messaging app compiled with an earlier order to make changes to the platform.
Telegram was accused of failing to prevent users from spreading misinformation, which worried Brazilian officials before the presidential elections.
The judge had asked telecommunications agency Anatel to ban Telegram until the company complies with local orders and pays fines.
Telegram Founder and CEO Pavel Durov apologized to the Brazilian Supreme Court for the negligence and worked over the weekend to comply with the court’s orders, following which the court lifted the ban.
“Considering that the (court’s requested changes) were fully attended to, I revoke the decision to fully and completely suspend the operation of Telegram in Brazil,” wrote Judge Alexandre de Moraes in a document released by the court.
Volkswagen Recalls 246,000 Atlas SUVs 🚗 to Address Wiring Issues
Volkswagen has issued a recall notice for over 246,000 units of Atlas and Atlas Cross Sport SUVs in the U.S. and Canada for a possible wiring flaw that may affect the functioning of airbags, windows, and brakes of the cars.
The recall comes days after several customers complained to the U.S. safety regulator about the potential issues.
The National Highway Traffic Safety Administration report stated that the faulty electrical wiring could result in airbags deploying later than designed, which may cause injuries to people in the cars.
In addition, the wiring issue may also affect other vehicle components such as brakes and self-rolling down of windows, said the report.
Currently, the automaker does not have a repair mechanism in place to rectify the wiring issue; however, Volkswagen will run a reimbursement program for the vehicles recalled.
The recall covers Atlas SUVs from the 2019 through 2023 model years, as well as the 2020 through 2023 Atlas Cross Sport.
Volkswagen will reportedly inform owners and dealers if their vehicles are included in the recall and will also reach out again when a fix is developed so owners can get their SUVs for repair.
Australian 🇦🇺 Senator Calls For Digital Services Act to Regulate Crypto Industry
Australia Blockchain Week had a great start as Australian Senator Andrew Bragg opened the conference by proposing the Digital Services Act (DSA), aiming to reform the crypto market.
The proposed DSA aims to protect consumers against bad actors in the space by addressing issues like licensing, decentralized autonomous organizations (DAOs), custody, taxes, and more. Senator Bragg believes that the DSA would lay the foundation for a new Digital Asset Ecosystem in the country.
The Senator mainly highlighted the situation around DAOs and said that they are challenging all branches of the government for creating a framework. He said that DAOs “must be recognized and regulated as a matter of urgency.”
Senator Bragg also noted that the government was weak in punishing those violating the regulations under the current Digital Currency Exchange (DCE) legislation.
“The reality is we don’t live in a libertarian nirvana,” he added, citing the DCE’s lack of jurisdiction acts as a momentum for the new proposals like DSA to stop sanctioned entities from taking advantage of loose crypto regulations.
Reliance Retail Acquires 89% 🛒 Stake in Purple Panda Fashions
Reliance Retail has acquired a majority stake in Purple Panda Fashions, the parent company of D2C lingerie brand Clovia, for $125 million.
The Indian-based retailer has reportedly bought an 89% stake in Purple Panda Fashions through a combination of secondary stake purchase and primary investment.
Through the acquisition, Reliance seeks to further bolster its portfolio in the innerwear segment, having already acquired other lingerie brands like Zivame and Amante.
Started in 2013 by Pankaj Vermani, Neha Kant, and Suman Choudhary, Clovia offers more than 3,500 products across innerwear and loungewear categories for women.
In a statement, Pankaj Vermani, founder and chief executive of Clovia, said, “Clovia is excited to become a part of the Reliance Retail family.”
“Reliance has always been at the forefront of enhancing choices and offering the best value proposition to consumers,” said Isha Ambani, director of Reliance Retail Ventures.
“We are pleased to add style, quality, and design-led intimate wear brand ‘Clovia’ to our portfolio. We look forward to working with the strong management team at Clovia to take the business to greater heights,” she added.
Around the Web 🌐
UK Banking Rail Provider Clearbank Raises $230 Million: ClearBank, a UK-based fintech that has established a new set of cloud-based financial rails that allows banks and other customers real-time clearing on payment transactions and other financial services, has raised $230 million from Apax Partners. The company plans to use the funds to expand its services beyond its home market and move into newer areas such as cryptocurrency exchanges.
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