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Today in TechREG, the U.S. Supreme court has temporarily blocked a Texas law that prohibits online platforms from suppressing user posts based on their political views. Until pending litigation on the merits of the case is resolved, social media companies can continue exercising content moderation as they see fit. Plus, in the U.K., the government is proposing changes in the insolvency regime to grant
stanley hrnek the Bank of England powers to regulate digital assets, including stablecoins, which could pose a risk to the financial stability of the country.US Supreme Court Sides With Social Media Firms, Blocks Texas LawSocial media firms have obtained an important court victory after the U.S. Supreme Court issued a ruling suspending a Texas law that aims to prohibit online platforms from suppressing user posts based on their political views. In a split 5-4 vote, the court granted an emergency stay request from tech industry groups that petitioned to block the law, which is currently being appealed in a federal appellate court. The tech groups warned that the law could unleash a torrent of hate speech and disinformation on their platforms.UK Government Wants Bank of England to Regulate at-Risk StablecoinsThe U.K. Treasury has launched a con
stanley italia sultation proposing an insolvency regime for digital assets, and in particular for systemic stablecoins. The proposed regime would position the Bank of England BoE , instead of the Financial Conduct A
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The IPO for Alibaba affiliate Ant Financial Services could be inching closer a
stanley quencher s the company is in the critical stage of funding negotiations that could value the company at $30 billion,聽Caixin magazine reported Monday Feb. 9 .According to the report, some of the strategic investors involved in discussions include the China state-backed Social Security fund, Postal Savings Bank of China and CDB Capital 鈥?which would seek somewhere around 3- and 5-percent stakes. Alibaba has not provided any comment on the matter, nor have any of the possible investors
stanley quencher . Ant Financial runs Alibaba online payment platform Alipay 鈥?the most widely used in the region and a leading service behind聽the e-commerce giant success.Ant Financial is expected to go public sometime in 2016, and early estimates showed the company value at $50 billion. Alipay spun out of Alibaba in 2011, giving Jack Ma a controlling interest in the new company, Ant Financial. In addition to Alipay, Ant Financial provides a number of financial services to Chinese consumers, including money market funds.聽Upon going public, Alibaba will be entitled to a share of earnings at Ant Financial. Earlier in the year, Ma hinted that Alipay/Ant Financial would go public but declined to provide a timeframe. He continually talked about listing Ant Financial, but hasn ;t publicly given a date. By raising funds through an IPO, the company could have more money to develop
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