As antitrust enforcement hits Facebook and Google, the Federal Trade Commission is digging into misuse of consumer data. The United States Federal Trade Commission is making the giants of social media account for their user data practices. On December 11, the FTC published orders for special reports from unnamed social media companies. The commission’s stated…
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The Technology Advisory Committee heard a briefing on DeFi’s functionality, as well as the pros and cons of holding programmers legally liable for bad usage. The Commodity Futures Trading Commission is trying to make heads or tails of the recent explosion in decentralized finance. On Monday, the CFTC’s Technology Advisory Committee hosted a presentation called…
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Major figure in Justice Department’s cyber work is out from the policy office, but no word on where she’s heading next. Per a Dec. 11 announcement from the Department of Justice, Assistant Attorney General Beth Williams is out of the policy department Since 2017, Williams has been a leader at the Office of Legal Policy. Though the…
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Sweden is examining risks and consequences of moving its economy to its e-krona digital currency. The Swedish government is progressing with its central bank digital currency, or CBDC, by launching a formal review of a potential transition to the digital currency. According to a Dec. 11 Bloomberg report, the review will explore the feasibility of…
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Russian officials finally prepare to disclose their crypto. Russia is the latest country to officially require its government officials to report their cryptocurrency holdings. President Vladimir Putin has signed a decree obliging Russian officials to disclose their crypto investments by June 30, 2021, local news agency TASS reported on Dec. 10. Officially released on Thursday,…
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The stablecoin issuer and PayPal partner wants to increase its range and scope of services by becoming the first crypto services provider to be regulated at both state and federal levels. Stablecoin creator and crypto services provider Paxos filed an application to open a national bank on Wednesday. If approved, the pioneering Paxos General Trust…
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Bitcoin may have experienced the perfect storm for success, but action by the United States government may remain a threat. Ryan Selkis, co-founder of data and research company Messari, recently released his 2021 crypto sector thesis, examining the state of the industry as well as forecasting what lies ahead. Selkis explains in this report that…
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Bitcoiners should embrace institutional adoption as it keeps everyone honest, says Erik Voorhees. Institutional investors will play an important role in securing the future of cryptocurrencies like Bitcoin (BTC), according to Erik Voorhees, CEO and founder of ShapeShift.io. In a panel discussion at this year’s LaBitConf, Voorhees said Bitcoin’s adoption curve will grow substantially over…
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The former congressman from Texas believes the government is “watching very closely” to see what happens with crypto. Former presidential candidate and congressman Ron Paul has been more outspoken about government oversight concerning Bitcoin and other cryptocurrencies in the last week, calling on people to “be vigilant.” In an episode of the Stephan Livera podcast…
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A vast number of nations, including many G-7 members, want more rules for crypto. Digital-asset regulation has been a hot topic in 2020 and shows no signs of cooling. A recent G-7 meeting concluded that the sector faces an ongoing need for regulation. In addition to talking about COVID-19 and economic issues, the group “also…
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