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The Los Angeles City Attorney’s office alleges in a lawsuit that a subsidiary of IBM deceptively mined the private location data of users of the Weather Channel app and sold it to advertising and marketing companies.
When users download the app, a prompt asks them to grant access to their location…
Read the letters between former President George H.W. Bush and a Filipino child he sponsored through Compassion International.
Nervous bank executives have been busily jetting in and out of meetings with Europe’s top financial regulators in the past few months. The reason: make sure Brexit doesn’t turn into financial armageddon.
WSJ.com: What’s News Europe
Wiener-eating champ Joey Chestnut chugged beer and slammed some dude through a table Sunday … officially becoming a new member of #BillsMafia — and the video is epic. It all went down in the New Era Field parking lot before the Bills took on the…
Rare December tornados in central Illinois injured 21 people, severely damaged 100 homes and knocked down trees and power lines, according to reports.
President Trump on Thursday followed through on his threat to cancel the meeting with his Russian counterpart that was planned for this week. After Russia’s seizure of three Ukrainian ships , Trump said he would no longer meet Vladimir Putin on the sidelines of the G-20 summit in Argentina. “Based on…
In recent regulatory news, the U.S. deputy attorney general has called for international cooperation on cryptocurrency regulation. Separately, the U.S. Federal Election Commission (FEC) has prepared a draft advisory that could allow political donations in the form of mining power, while the Alabama Securities Commission has estimated that the state has brought forward 20 percent of all active cease-and-desist orders against crypto companies in the U.S.
US Department of Justice Takes Aim at Crypto
While speaking at Interpol’s 87th General Assembly, Rod Rosenstein, the U.S. deputy attorney general, called for international cooperation on cryptocurrency regulation. Rosenstein implored regulators to “work together to make clear that the rule of law can reach the entire blockchain.” He also issued a call to prevent cryptocurrencies from being “abused by criminals, terrorist financiers or sanctions evaders.”
In addition, Rosenstein took specific aim at initial coin offerings. He stated that “fraudsters use the lure of coin offerings and the promise of new currencies to bilk unsuspecting investors, promote scams and engage in market manipulation.”
US FEC Paves Way for Campaign Donations via Mining
The U.S. Federal Election Commission has prepared a draft advisory that describes political campaign donations through cryptocurrency mining as “permissible.” The document is a response to a proposal submitted by Osianetwork LLC on Nov. 13 that questioned whether individuals would be permitted to support political committees by devoting computing power to the mining of virtual currencies.
The commission adds that such donations would “not fall within the volunteer internet activities exception, and would result in contributions from both the individuals and the Osianetwork to the participating political committees.” The FEC is scheduled to vote on the matter on Dec. 19, 2018.
US Litigator Notes Role of States in Regulating Crypto
Greg Bordenkircher, the chief litigator of the Alabama Securities Commission, has estimated that the state of Alabama accounts for “about 20 percent of all the active cease-and-desists” in the U.S. He stated that the commission has issued nine orders to shut down the operations of companies that have advertised fraudulent cryptocurrency products. He added that it is currently looking at another 20 to 22 companies that it may shut down.
Bordenkircher also emphasized the need for state regulators to take an active role in regulating the cryptocurrency sector. He said that the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission do “a great job, but the states have really got the boots on the ground. There’s more of us than there are of them.”
What is your response to the prospect of political donations in the form of mining? Share your thoughts in the comments section below.
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Looming over the deal to extract the U.K. from the EU is a simple question: Will the British Parliament go for it? The legislative math is challenging.
WSJ.com: What’s News Europe
A football fan was hospitalized Sunday after falling from the stands at Tennessee’s Nissan Stadium during the NFL game between the Tennessee Titans and the New England Patriots. An NFL employee who witnessed the fall tells USA Today that as cheerleaders threw T-shirts into the crowd during the third quarter,…