I have an Office 365 tenant, and for sharepoint sharing settings, i found 2 places to manage the sharing settings:-
First Place. SharePoint admin center >> Site Collections >> Sharing
Second Place. Admin center >> Setting >> Security & Privacy >> Sharing
Usually i use the above first place to set the tenant level wide sharing settings + the sharing settings for each site collection... but recently i found the above second place to manage sharing.. so are the second place settings associated with components other than the ones covered in the above first place?? and what are the main differences between the two?