Supreme Court hears the writ petition filed by CPI Rajya Sabha MP Binoy Viswam @BinoyViswam1 seeking data protection measures for Unified Payments Interface (UPI).

Krishnan Venugopal for Binoy Viswam : The system of Whatsapp is not secure. Whatsapp is using the platform of the messenger service to allow payments.

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Krishnan Venugopal refers to the 'Pegasus' issue to argue that Whatsapp's system is not safe and secure.

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Krishnan Venugopal : Another issue is data localization. Problem with whatsapp, amazon & google is that when they allow payment to happen, data goes abroad. RBI justifies this process by saying that it is fine for data of Indians to go abroad without any formal protection.
Krishnan Venugopal : Critical financial data is allowed to be accessed by companies abroad and RBI justifies it. This is violation of Privacy judgment as my data is being grossly misused as these companies then collect this data and use it for advertisement purposes.
Krishanan Venugopal : All the data is being shared with the parent companies in violation of the NPCI guidelines. The data is being processed by the infrastructure of the parent company.
Krishnan Venugopal : Respondents have allowed Whatsapp, even when the case is pending, to go ahead and share this data with companies like Google, Amazon, Facebook etc without any circular or formal regulation
CJI tells Sibal (for Whatsapp) : Mr. Krishnan Venugopal made a serious allegation that your (Whatsapp) can be hacked by something called 'Pegasus'.

Sibal : Absolutely baseless. There is no such pleading. It is just an oral submission made across the bar without basis.
Krishnan Venugopal : This (Pegasus issue) has been reported in newspapers.

CJI : You make the statement on affidavit.

K Venugopal : It is on affidavit.

The bench to take up the matter on the 4th week of January.

NPCI asked to file reply.

More from Live Law

More from Law

1/ After a good night's sleep, I have a few thoughts on the impending Ripple lawsuit.

Less schadenfreude, more "what now?" https://t.co/a0oTwblBHB


2/ First of all, the USG is going to lose.

I don't even need to read the complaint. They might force a settlement, but they're outclassed on legal.

Remember Ripple engaged former SEC Chair Mary Jo White in a civil matter in 2018. A hint of their

3/ Second, the USG should lose.

The SEC restrictions on non-accredited investors; the ridiculous Howey test; 80 year old securities law like the "40 Act" all need to die in fire. They are un-American and completely outdated.

I hope Ripple wins. (WUT?)

4/ Third, it's incumbent upon industry to self-police and hold the moral high ground.

I give certain individuals A's and others F's, but as a whole, the most powerful people and companies generally take a Swiss neutrality stance on assets.

So we're effectively in this together.

5/ We're "in this together" to draw lines of regulatory demarcation.

XRP as a "security" further hurts the U.S. businesses while global comps will continue to make these markets.

XRP as a security also means other assets will meet the same fate. At least Ripple has $ to fight.

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A THREAD ON @SarangSood

Decoded his way of analysis/logics for everyone to easily understand.

Have covered:
1. Analysis of volatility, how to foresee/signs.
2. Workbook
3. When to sell options
4. Diff category of days
5. How movement of option prices tell us what will happen

1. Keeps following volatility super closely.

Makes 7-8 different strategies to give him a sense of what's going on.

Whichever gives highest profit he trades in.


2. Theta falls when market moves.
Falls where market is headed towards not on our original position.


3. If you're an options seller then sell only when volatility is dropping, there is a high probability of you making the right trade and getting profit as a result

He believes in a market operator, if market mover sells volatility Sarang Sir joins him.


4. Theta decay vs Fall in vega

Sell when Vega is falling rather than for theta decay. You won't be trapped and higher probability of making profit.