Categories: Crypto Freedom News

India House passes bill to ease Big Tech data compliance

[ad_1]

The lower house of India’s parliament voted in approval of a bill that would ease data compliance regulations for Big Tech companies on Aug. 7, according to a report from Bloomberg. 

The Digital Personal Data Protection Bill 2023 would ease storage, processing and transfer standards for major global tech companies like Google, Meta and Microsoft, as well as local firms seeking international expansion.

The legislation allows companies to export data sourced from India, except to countries prohibited by the government.

As it currently stands, the bill requires government consent prior to Big Tech companies collecting personal data. It also prevents them from selling it for reasons not listed in the contract, meaning no anonymization of personal data for use in artificial intelligence (AI) training, for example.

These updates to the bill would reduce compliance requirements for companies, though it has to pass through the upper parliamentary house.

India is the world’s most populous country, with billions of internet users, which makes it a key market for growth.

Related: Indian Supreme Court raps Union government on crypto rules delay: Report

Concerns over data misuse in the emerging tech industry, particularly from Big Tech companies, have been a growing priority for regulators across the globe. 

The rapid emergence of AI as an accessible tool for the general public has caused major concerns among regulators regarding the way these products collect and utilize user data.

India is also reportedly collaborating with the administration of United States President Joe Biden to create an international framework for AI.

One recent major development in the emerging tech scene that has caused concerns over data collection is the launch of the decentralized digital identity verification protocol Worldcoin.

So far, the project has launched 1,500 of its iris-scanning Orbs in countries all around the world. India is home to two Orbs in the northern city of Delhi and the southern city of Bangalore, according to Worldcoin. 

Magazine: Deposit risk: What do crypto exchanges really do with your money?

[ad_2]

Source link

PrepTeam

Share
Published by
PrepTeam

Recent Posts

Dear Diary, It’s Me, Jessica: Part 16

[ad_1] If you're new here, you may want to subscribe to my RSS feed. Thanks…

3 months ago

Google Faces Lawsuit After $5M in Crypto Stolen via Play Store App

[ad_1] A Florida woman, Maria Vaca, has sued Google in a California state court, alleging…

3 months ago

All About Water Purification: A Complete Tutorial

[ad_1] You may need to purify water to make it safe to drink. The process…

3 months ago

Protocol Village: Quai Releases Mainnet-Compatible Devnet, Crunch Lab Raises $3.5M

[ad_1] The latest in blockchain tech upgrades, funding announcements and deals. For the period of…

3 months ago

The Grim New Daily Life in Venezuela

[ad_1] If you're new here, you may want to subscribe to my RSS feed. Thanks…

3 months ago

World’s 3rd largest public pension fund buys $34M MicroStrategy shares

[ad_1] The third-largest public pension fund in the world has just bought nearly $34 million…

3 months ago