Category: government

Such a bailout never took place, but the investigation is seeking to determine whether the firms were involved in possible market manipulation. TerraUSD and its sister token, Luna, both eventually collapsed, setting off a series of high-profile failures of prominent crypto firms, including hedge fund Three Arrows capital, Voyager Digital and FTX. The Department of Justice previously alleged that an unnamed crypto firm — believed to be Jump — had bailed out TerraUSD once before, in an indictment against FTX founder Sam Bankman-Fried. In February, the SEC filed a civil fraud lawsuit against Kwon and Terraform Labs, accusing them of misleading investors about TerraUSD’s risks.

The Wall Street Journal reports:
Any lawsuit from U.S. regulators would be like “nuclear fall out” for Binance’s business and its officers, a Binance executive warned colleagues in a 2019 private chat. Worried about the threat of prosecution, Binance set out on a plan to neutralize U.S. authorities, according to messages and documents from 2018 to 2020 reviewed by The Wall Street Journal as well as interviews with former employees.

The strategy centered on building a bare-bones American platform, Binance.US, that would license Binance’s technology and brand but otherwise appear to be wholly independent of Binance.com. It would shield from U.S. regulators’ scrutiny the larger Binance.com exchange, which would exclude U.S. users. But Binance and Binance.US have been much more intertwined than the companies have disclosed, mixing staff and finances and sharing an affiliated entity that bought and sold cryptocurrencies, according to the interviews and the messages and documents reviewed by the Journal. Binance developers in China maintained the software code supporting Binance.US users’ digital wallets, potentially giving Binance access to U.S. customer data.

If U.S. regulators conclude that these links mean Binance has control over a U.S. company, they could claim the power to police Binance’s entire business, which, to many investors, has been a black box since the start. This would also put Binance’s billionaire founder and chief executive, Changpeng Zhao, and his finances under closer scrutiny…. Developers in Shanghai maintained key software functions at Binance.US at least through the summer of 2021, the Journal has reported. The Shanghai developers’ contracts were with Binance, not with the U.S. platform, according to a person familiar with the agreements.

I oppose these bills from my perch as a long-time child safety advocate (I wrote “Child Safety on the Information Highway” in 1994 for the National Center for Missing & Exploited Children and am currently CEO of ConnectSafely.org). However well-intentioned, they could increase risk and deny basic rights to children and adults. SB 152 would require companies to keep a “record of any submissions provided under the requirements,” which means there would not only be databases of all social media users, but also of users under 18, which could be hacked by criminals or foreign governments seeking information on Utah children and adults. And, in case you think that’s impossible, there was a breach in 2006 of a database of children that was mandated by the State of Utah to protect them from sites that displayed or promoted pornography, alcohol, tobacco and gambling. No one expects a data breach, but they happen on a regular basis. There is also the issue of privacy. Social media is both media and speech, and some social media are frequented by people who might not want employers, family members, law enforcement or the government to know what information they’re consuming. Whatever their interests, people should have the right to at least anonymously consume information or express their opinions. This should apply to everyone, regardless of who they are, what they believe or what they’re interested in. […]

It’s important to always look at the potential unintended consequences of legislation. I’m sure the lawmakers in Utah who are backing this bill have the best interests of children in mind. But this wouldn’t be the first law designed to protect children that actually puts them at risk or violates adult rights in the name of child protection. I applaud any policymaker who wants to find ways to protect kids and hold technology companies accountable for doing their part to protect privacy and security as well as employing best-practices when it comes to the mental health and well being of children. But the legislation, whether coming from Utah, another state or Washington, D.C., must be sensible, workable, constitutional and balanced, so it at the very least, does more good than harm.

Known for their blinking blue lights, the SkyCop cameras now blanket many of the city’s neighborhoods, gas stations, sidewalks and parks. The company that runs SkyCop, whose vice president of sales previously worked for the Memphis police, promotes it as a powerful crime deterrent that can help “neighborhoods take back their streets.” But after a decade in which Memphis taxpayers have paid $10 million to expand the surveillance system, crime in the city has gone up….

No agency tracks nationwide camera installation statistics, but major cities have invested heavily in such networks. Police in Washington, D.C., said they had deployed cameras at nearly 300 intersections by 2021, up from 48 in 2007. In Chicago, more than 30,000 cameras are viewable by police; in parts of New York City, the cameras watch every block. Yet researchers have found no substantive evidence that the cameras actually reduce crime….

In federal court, judges have debated whether round-the-clock police video recording could constitute an unreasonable search as prohibited by the Fourth Amendment. Though the cameras are installed in public areas, they also capture many corners of residential life, including people’s doors and windows. “Are we just going to put these cameras in front of everybody’s house and monitor them and see if anybody’s up to anything?” U.S. Circuit Judge O. Rogeriee Thompson said during oral arguments for one such case in 2021….

Dave Maass, a director at the digital rights group Electronic Frontier Foundation who researches police surveillance technology, said these systems have expanded rapidly in the United States without real evidence that they have led to a drop in crime. “This often isn’t the community coming in and asking for it, it’s police going to conferences where … vendors are promising the world and that they’ll miraculously solve crimes,” Maass said. “But it’s just a commercial thing. It’s just business.”
Nonetheless, the Post notes that in Memphis many SkyCop cameras are even outfitted “with license-plate recognition software that records the time and location of every passing car.”

The text generated from Auchincloss’s prompt includes sentences like: “We must collaborate with international partners like the Israeli government to ensure that the United States maintains a leadership role in AI research and development and responsibly explores the many possibilities evolving technologies provide.” “There were probably about a dozen of my colleagues on the floor. I bet none of them knew it was written by a computer,” he said. Lawmakers and others shouldn’t be reflexively hostile to the new technology, but also shouldn’t wait too long before drafting policies or new laws to help regulate it, Auchincloss said. In particular, he argued that the country needs a “public counterweight” to the big tech firms that would help guarantee that smaller developers and universities have access to the same cloud computing, cutting edge algorithms and raw data as larger companies.

In a statement, the Service Employees International Union (a bill proponent) says the bill “rewrites the rules” and gives condition drivers have sought for over a decade. The Massachusetts Coalition for Independent Work, an industry-run organization that opposes the legislation, previously claimed that measures granting employee status don’t reflect a “vast majority” of drivers that want to remain contractors. The coalition prefers bills that would bring the anti-employee ballot proposal to the legislature as well as create portable benefit accounts.

In the proposed resolution, a group of lawmakers led by Senator Jim Anderson says Wyoming’s “proud and valued” oil and gas industry has created “countless” jobs and contributed revenue to the state’s coffers. They add that a lack of charging infrastructure within Wyoming would make the widespread use of EVs “impracticable” and that the state would need to build “massive amounts of new power generation” to “sustain the misadventure of electric vehicles.” SJ4 calls for residents and businesses to limit the sale and purchase of EVs voluntarily, with the goal of phasing them out entirely by 2035.

If passed, the resolution would be entirely symbolic. In fact, it’s more about sending a message to EV advocates than banning the vehicles altogether. To that point, the final section of SJ4 calls for Wyoming’s Secretary of State to send President Biden and California Governor Gavin Newsom copies of the resolution. “One might even say tongue-in-cheek, but obviously it’s a very serious issue that deserves some public discussion,” Senator Boner, one of the bill’s co-sponsors, told the Cowboy State Daily. “I’m interested in making sure that the solutions that some folks want to the so-called climate crisis are actually practical in real life. I just don’t appreciate when other states try to force technology that isn’t ready.”

In 2005, the U.S. Senate passed the Real ID act 100-0. It was included in the $82 billion Iraq Supplemental Spending Bill.

In an article from 2006, Ars Technica detailed some of the financial and technological challenges associated with implementing the act.

The Albany Times Union editorialized twice for the governor to sign the bill, recently noting that the bill has come under intense opposition from manufacturers: “Meanwhile, lobbyists, big corporations and a few trade organizations are pressing for a veto … Ms. Hochul must sign the bill, and then lawmakers should get to work passing an expanded version that includes all the products that were needlessly stripped from the original. Big corporations and the lobbyists they hire won’t be happy, but that shouldn’t matter a bit.”

The initiative, described by White House officials as “Energy Star for cyber,” will help Americans to recognize whether devices meet a set of basic cybersecurity standards devised by the National Institute of Standards and Technology (NIST) and the Federal Trade Commission (FTC). Though specifics of the program have not yet been confirmed, the administration said it will “keep things simple.” The labels, which will be “globally recognized” and debut on devices such as routers and home cameras, will take the form of a “barcode” that users can scan using their smartphone rather than a static paper label, the administration official said. The scanned barcode will link to information based on standards, such as software updating policies, data encryption and vulnerability remediation.