congress

Twitter gives Trump a temp ban after insurrectionists storm Capitol [Updated]

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Enlarge / Supporters of US President Donald Trump breach the US Capitol on January 6, 2021, in Washington, DC. Saul Loeb | AFP | Getty Images Update, 7:10pm EST: At 6:30, Twitter began removing several of President Trump’s tweets, including the video statement. Enlarge / A screenshot of Trump’s account with offending tweets removed. “As …

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Rep. Soto seeks to create office to ‘coordinate’ Federal use of blockchain tech

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A new bill filed on Thursday, H.R.9067, seeks to create an office that will “coordinate” federal applications of blockchain technology.  Sponsored by Rep. Darren Soto, a Democrat representing Florida’s 9th district, the bill would “establish an office within the Department of Commerce to coordinate all non-defense related deployment and activities related to blockchain technology within …

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Congresspeople chastise the Treasury for rushing new crypto monitoring proposal

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Nine congresspeople have signed on to a letter to Treasury Secretary Steven Mnuchin, telling him to hold his horses.  The Thursday letter is in response to the Treasury’s recent proposal to make registered crypto businesses hold on to more customer information, especially when transacting with self-hosted wallets. The proposal has been met with widespread outrage from the …

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Congress approves COVID-19 spending bill with contentious copyright measures

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Xinhua News Agency via Getty Images US Congress has finally passed a new spending bill with COVID-19 relief measures, which on the one hand is good news for many Americans. As often happens with crucial legislation, however, lawmakers tacked on some extra legislation, including a controversial copyright bill called the CASE Act. They make illegal …

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Before Congress, federal regulators dispute US pace on national digital currency

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Amid a global race toward central bank digital currencies, or CBDCs, the United States needs to focus on the private sector, says Acting Comptroller of the Currency Brian Brooks.  “We have built private stablecoins in this country that already have a market cap in the tens of billions of dollars,” Brooks said in a U.S. …

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Digital identity is the future, US Congressman Bill Foster says

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Speaking at the online launch event for the Global Digital Asset & Cryptocurrency Association, a Chicago-based group focused on regulatory clarity and industry security, U.S. Representative Bill Foster explained the importance of a “secure digital identity.”  “You can have the most rock-solid cryptographic guarantees of a blockchain or equivalent and it doesn’t do you any good …

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House: Amazon, Facebook, Apple, Google have “monopoly power,” should be split

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Enlarge / The United States Capitol Building, the seat of Congress, on the National Mall in Washington, DC. Omar Chatriwala | Getty Images Last June, the House Judiciary Subcommittee on Antitrust, Commercial, and Administrative Law began an in-depth investigation into four major firms—Amazon, Apple, Facebook, and Google. The subcommittee wanted to answer one key question: …

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Blockchain legislation passes the House, heads for Senate

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The updated Consumer Safety Technology Act, which now includes the Digital Taxonomy Act and the Blockchain Innovation Act, has passed in the House of Representatives and is now headed for the Senate as of Tuesday afternoon. The Digital Taxonomy Act provides definitions for the terms “digital asset” and “digital unit” and would task the Federal Trade Commission …

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Law Decoded: Transformations in crypto exchanges and traditional institutions, Sept. 18-25

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Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor’s note The final scene of Animal Farm, Orwell’s classic fable of revolution gone wrong and a staple of secondary-school reading lists throughout the English-speaking world, features a card game. The pigs who run the farm …

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DoJ asks Congress to limit protections for social media companies

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Elijah Nouvelage / reuters The Department of Justice (DoJ) is asking Congress to adopt a new law that would make Facebook, Google and Twitter liable for the way they moderate content, The Washington Post reports. The legislation would alter the controversial Section 230 so that tech companies would be accountable when they “unlawfully censor speech …

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