The National Agency for Advanced Projects (NAPP) has published a draft amendment to the internal regulations for crypto asset service providers. These changes introduce stricter requirements for employees, managers, and anti-money laundering procedures.
According to the draft, employees responsible for organizing and implementing internal control must hold positions as deputy heads. Previously, these functions could be performed by members of the management staff.
A new crypto asset service provider is obliged to appoint a responsible employee and provide their personal data to NAPP within one month of receiving a license.
Simultaneously, it is proposed to tighten requirements for crypto service managers. They must not be residents of countries that do not participate in international cooperation against money laundering. Companies registered in such jurisdictions will also be excluded from the list of potential service founders.
The proposed criteria for appointing, training, and qualifying employees include requirements regarding qualifications and business reputation. Furthermore, providers must possess an understanding of the client's business, as well as its ownership and management structure.
The draft provides for the involvement of a third party for client identification and verification within the scope of due diligence. A specialized organization confirming the authenticity of personal data is proposed as such a third party.
Special requirements are established for providers with controlled or affiliated structures conducting operations with funds or other assets. In such cases, internal rules must be developed using a group approach.
Specifically, the rules must define the procedure for exchanging information to manage risks of criminal income laundering, ensure consistency of compliance, audit, and anti-money laundering functions at the group level, and allow for obtaining necessary information about clients, accounts, and transactions from branches and subsidiaries. Proper confidentiality of the received information must be guaranteed.
The amendments also clarify the procedure for transmitting reports on suspicious transactions. Crypto services are required to send such notifications to the Department for Combating Economic Crimes under the Prosecutor General's Office through secure communication channels.
Proposed secure channels include electronic data transmission systems with cryptographic protection, including encryption, secure email addresses, and a personal account in a special system. To connect to the personal account, the organization must submit a request to NAPP with detailed information about the company and the responsible employee.
If a transaction is suspended or assets are frozen due to the client being included in a list of persons involved or suspected of terrorism, the responsible employee must immediately notify the client. Moreover, the employee must explain the procedure for resuming the transaction.
Public discussions on the draft amendments will continue until August 22.
The Government of Karnataka has released the draft 'Greater Bangalore Parking Rules, 2026' in accordance with Article 314 of the 'Greater Bangalore Management Act, 2024'. The objective of this document is to improve the city's unregulated transport system and optimize parking management. The public and stakeholders have been given 30 days to submit comments and suggestions on this draft, published by the Urban Development Department.
Once the new regulations come into force, it will become impossible to leave vehicles arbitrarily on the main streets and busy intersections of Bangalore. Parking in the main travel lanes within the so-called 'high-density corridors,' defined by the Greater Bangalore Authority (GBA), will be completely prohibited. Furthermore, to prevent traffic congestion, stopping any vehicle within a 100-meter radius of signalized intersections and within a 25-meter radius of unregulated intersections is forbidden.
To increase the use of public transport and ensure pedestrian safety, areas within a 150-meter radius of metro stations, railway stations, and bus terminals are initially declared no-parking zones. In the future, after assessing the supply and demand for parking spaces, this radius may be increased to 500 meters. Auto-rickshaws and taxis can only use designated pick-up and drop-off points, where they are allowed to stay for no more than five minutes.
Parking vehicles on sidewalks along roads is completely banned to avoid obstructing pedestrian movement. Bicycle parking on sidewalks will only be permitted if there remains a clear and unobstructed passage for pedestrians of at least 2 meters. Additionally, auto-rickshaw stands will only be located in quiet local alleys to avoid interfering with general road traffic.
If an owner does not have space for parking on private property and parks a car on the street, they must now obtain an annual residential parking permit from the municipality. Such a permit is issued only to vehicles whose residential buildings comply with building codes. The government has set high annual fees for this permit, which depend on the type of vehicle.
Public parking spaces are divided into three categories—A, B, and C—depending on their commercial significance and types of activity. In Category 'A', the street parking fee is 40 rupees per hour for two-wheelers and 80 rupees per hour for four-wheelers. On Category 'B' streets, the rates are 30 and 60 rupees respectively, and on Category 'C' streets, they are 20 and 40 rupees per hour. To prevent misuse of street parking, tariffs sharply increase if the parking time exceeds two hours. However, using off-street parking involves a significantly lower fee, and a 50 percent discount is provided at night.
Incentives are offered to owners of private and public vacant land to create parking zones on their plots. If an owner develops a multi-level or mechanized parking facility with a capacity of at least 30 vehicles, they will receive a 100% exemption from property tax and service charges. For creating an open-air parking lot with a capacity of at least 15 vehicles, a 50% discount on property tax is provided. Furthermore, such landowners will not need to obtain a separate trade license.
Parking operators have been granted the status of a government official, allowing them to tow or clamp vehicles that violate the rules. Nevertheless, to prevent corruption and disputes, the operator is obliged to maintain clear video footage of the vehicle's license plate before towing it and keep this recording for at least three months. Fines for improper parking are set at 500 rupees for cars and 300 rupees for two-wheelers, while parking on the sidewalk incurs a heavy fine: 1000 rupees for cars and 600 rupees for two-wheelers.
The United States is threatening Iran with an unprecedented level of economic isolation, in addition to maintaining the blockade of the Strait of Hormuz, which would prevent any goods from moving through Iranian ports, according to Scott Bessent.
In an interview given to the conservative American broadcaster Newsmax on Thursday, the executive promised the implementation of new measures, although he did not specify their nature, asking people to pay attention to further announcements next week.
On August 4, Bessent had mentioned the possibility of an agreement with Tehran to reopen the Strait of Hormuz that day or the next, a crucial maritime route for global hydrocarbon trade.
On the same day, US President Donald Trump declared that major talks were taking place and stated that Iran wished to reach an agreement. These declarations generated optimism, boosting the New York stock market and causing a sharp drop in oil prices.
This new intensification of rhetoric occurs as the war, which began in late February following a US and Israeli offensive against Iran, approaches its sixth month. A memorandum of understanding reached in June to end the conflict failed in early July, before Donald Trump suspended attacks at the end of the month, conditioning the pause on the rapid conclusion of an agreement.
The US president declared on August 1 that any agreement would have to include the 'complete and total' opening of the Strait of Hormuz and the 'end of the Iranian nuclear threat.' Since then, the North American leader has shown a preference for a more moderate strategy, focused on economic pressure.
The Strait of Hormuz, through which one-fifth of the world's oil circulated before the start of the war, remains the main point of tension. On Thursday, the United Arab Emirates condemned an attack carried out by Iran, without casualties, against two vessels of the state oil company ADNOC while they were transiting the strait. The Emirates requested that Iran reopen the passage 'fully and unconditionally.'
For its part, Tehran contested on Thursday what it classified as falsehoods by Donald Trump, who had claimed on the Truth Social platform that the US had total control over the strait. Ebrahim Zolfaghari, spokesperson for the Khatam al-Anbiya Central Command, insisted that Hormuz is 'under the complete management and control of the Islamic Republic.'
Additionally, on the same Thursday, Iranian Foreign Minister Abbas Araghchi accused the United States of 'calculation errors' related to intelligence failures. He wrote on the social network X: 'An example: the war against Iran. Now, an even bigger calculation error regarding the Strait of Hormuz.'
The fourth and final shipment of rice, representing the largest donation made by China to Cuba in recent years, is scheduled to arrive in September. This information was disclosed by the social media channels of the Cuban Ministry of Foreign Trade and Foreign Investment (Mincex).
During the delivery ceremony at the port of Havana, the Beijing ambassador, Hua Xin, emphasized that this new shipment of rice conveys the message that China remains by Cuba's side. The diplomat declared the commitment to continue supporting Cuba and its people, who firmly resist external interference from the United States.
For his part, the Cuban Deputy Prime Minister, Oscar Pérez-Oliva, expressed deep gratitude for the arrival of this Asian rice donation. He stressed that the ties between Cuba and China are unbreakable. Pérez-Oliva, who is also responsible for Mincex, pointed out that China offers support to Cuba amidst the intensified blockade and energy squeeze imposed by the United States.
Recently, the Chinese embassy in the Cuban capital provided a second donation, consisting of five thousand photovoltaic systems, aimed at assisting with rural electrification. This occurs at a time when the island faces a serious energy crisis, aggravated since January due to an oil embargo decreed by the Washington government.
Chinese President Xi Jinping had approved comprehensive assistance to Cuba in January, which includes US$80 million (equivalent to 72.8 million euros) in financial aid and 60 thousand tons of rice. In 2024, China had already allocated US$100 million (about 91 million euros) to the Caribbean country.
The Cuban economy is undergoing a prolonged and severe crisis, showing an economic contraction of 15% over the last five years, according to official data. The island suffers from constant shortages of food, medicine, and fuel, coupled with chronic energy cuts and high inflation. Havana and Beijing maintain strong political and commercial ties, positioning the Asian nation as a fundamental ally of the island.
