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South Africa’s financial regulators want crypto startups operating in the country with foreign head offices to set up local offices to ensure “appropriate oversight and ensure accountability.” Per a recent study from the Financial Sector Conduct Authority (FSCA), approximately 10% of virtual currency service providers in South Africa have their centers of operation abroad. The FSCA argues that oversight in South Africa became “insufficient” after crypto currencies were declared financial products last year. To offset the issues, the agency wants companies to set up shop. REGULATION | South African Regulator to Require Local Presence for International Crypto Companies According to FCSA, about 10% of Crypto Assets Financial Service Providers operating in South Africa have their head offices in foreign countries. FCSA says a physical presence… pic.twitter.com/CgFrYrEjGD — BitKE (@BitcoinKE) December 9, 2023 The South African financial regulatory body describes crypto assets...

Reports have surfaced indicating that French antitrust authorities have initiated an investigation into the cloud computing sector. Nvidia, a global juggernaut in artificial intelligence (AI) chip manufacturing, headquartered in sunny California, has reportedly found itself in the midst of a police raid at its French offices this week. This dramatic turn of events is part and parcel of a broader inquiry undertaken by French antitrust authorities into the enigmatic realm of cloud computing. Although the Wall Street Journal diligently reported on this raid on September 28, both Nvidia and the French enforcement agencies have chosen to remain tight-lipped, refraining from any official commentary on the matter. A press release found on the official webpage of the French antitrust agency, known as Autorité de la Concurrence, alludes to an unscheduled inspection targeting the graphics cards sector. According to this release, a judge granted authorization for the raid based on suspi...