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China experiencing ‘mixed effects’ with Crypto crackdown

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Chinese officials have taken steps to crack down on cryptocurrencies, with mixed effects.

A Chinese phone regulator says it would “gradually retire existing mainland China user accounts”.

It follows a crackdown from authorities who say crypto transactions in China are banned and they will root out mining of digital assets.

A PWC crypto leader says “there is no ambiguity” in this latest ban.

The official notice comes from the People’s Bank of China along with nine other institutions.

Enforcement is set to be widespread, with security watchdogs, the supreme court and police all backing the ban.

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Elon Musk under fire from shareholders over Twitter deal

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Elon Musk during SNL appearance

Twitter shareholders are filing a lawsuit against billionaire Elon Musk, alleging he manipulated the company’s stock for personal gain.

The complaints focus on Musk’s conduct after signing the purchase agreement with Twitter’s board in April.

It’s alleged Musk make statements and sent tweets that put the deal in doubt, and drove Twitter’s stocks down.

It comes as the Tesla CEO says the deal “cannot move forward” without more information about automated accounts on the platform.

The lawsuit is a class action proposal brought by a small group of shareholders… they are seeking damages that would be distributed to anyone holding the company’s stock.

Twitter has declined to comment on the unfolding case.

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Why is Russia and China missing from a vital world economic forum?

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Leading economists from around the world have been meeting in Davos this week with two countries being notably absent – Russia and China

Amid a backdrop of fears about recession caused by coronavirus and the war in Ukraine, economic leaders have been gathering for the World Economic Forum.

It’s been two years since the world’s business and political elite have been allowed to attend the summit in person, due to COVID.

The reunion has been marred with warnings of “dire human consequences” of global slowdowns as the war in Ukraine exacerbates rising inflation. 

Central banks have been raising interest rates to try and dampen the rising cost of living but that’s now leading to a rise in global inflation.

Russia’s attack on Ukraine has also led to a severe disruption of key food supplies of wheat and sunflower oil.

The supply shock is expected to last into next year.

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WhatsApp warns users about alerts

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WhatsApp is warning all 2 billion users to watch out for new alerts

The popular messaging service is warning users over fresh app danger.

The tech giant is alerting users why unencrypted chats are so risky.

Encryption is a system of encoding and decoding messages.

Not even WhatsApp can read your messages, which makes it difficult for law enforcement.

WhatsApp is showing a fresh warning that reminds users why encryption matters.

The app shows a new footer for end-to-end encryption that shows up at the bottom of your status updates, call history, chats list and devices list.

The pop-up explains what WhatsApp encrypts.

This includes your text and voice messages, video and phone calls, sharing photos, videos, documents and your location, and status updates.

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