Us Government news-Page 24
Your crypto is not outside government reach, VC firm partner says
Morgan Housel, partner at venture capital firm Collaborative Fund, said the government actually can control people's digital assets. In a recent podcast episode with Morgan Creek Digital co-founder Anthony Pompliano, Housel mentioned that some arguments in favor of crypto are illogical. "The idea that the government cannot touch your crypto [...], of course they can," he explained as an example, noting the industry views the assets as "hands-off," out of reach by the long arm of the law. Housel referred to the confiscation of gold almost 100 years ago as backing for his point. In 1933, while staring down the …
Regulation / Sept. 3, 2020
US federal court calls NSA’s mass phone data collection illegal
In the final decision on a criminal case that began a decade ago, an appellate court has said that the National Security Agency’s phone data collection practices were in fact illegal. They did, however, uphold the convictions in the case. According to the 9th Circuit Court’s Sept. 2 opinion in USA v. Moalin: We conclude that the government may have violated the Fourth Amendment and did violate the Foreign Intelligence Surveillance Act (“FISA”) when it collected the telephony metadata of millions of Americans. The court continued to attack the program, writing that the government’s case neglects that “the collection of …
Regulation / Sept. 2, 2020
Ripple's Garlinghouse forecasts further loss of U.S. dollar value
After what has been a crazy year in almost every sense of the word, businesses are left wondering how to proceed, Ripple Labs CEO Brad Garlinghouse said. "The pandemic is throwing so many playbooks out the window," he posited in an Aug. 28 tweet. "Yesterday's action flies in the face of decades of precedent," he said, pointing toward an Aug. 27 article from the Wall Street Journal on the U.S. Federal Reserve choosing to keep interest rates low at the possible expense of higher inflation. "Signs point to further dollar debasement in the near term (leading to further diversification of …
Regulation / Aug. 29, 2020
Abra CEO Explains Why It's Bitcoin's Time to Shine
The U.S. government's attempts to fix the current economic situation could ultimately lead to greater Bitcoin (BTC) adoption, according to Bill Barhydt, CEO of crypto wallet and exchange solution, Abra. "I think that this is a pivotal moment for Bitcoin as a new asset class," Barhydt told Morgan Creek Digital co-founder Anthony Pompliano during an Aug. 13 podcast interview. Barhydt noted the U.S. government's goals for intentional inflation as rationale for his thesis. As part of the rationale for his claims, Barhdyt mentioned rumors of the U.S. government's upcoming goal of 4% inflation — unheard of territory when it comes …
Bitcoin / Aug. 13, 2020
An Official North Dakota Cryptocurrency Could Be on the Horizon
Rep. Nathan Toman believes that an official "North Dakota coin" could potentially help the state's struggling economy in the wake of COVID-19, an Aug. 7 article from Inforum said. "That was my hope, but we're a little bit late to the game on doing something like that," Toman told Inforum regarding COVID-19 and the potential state-sanctioned Blockchain asset. Backed by aspects such as state-held precious metals and property, Toman told Inforum he sees the such an asset positioned as more of a store of value than a transactional currency. He additionally believes that it could function in tandem with loans …
Regulation / Aug. 7, 2020
FinCEN Releases Cybercrime Statement In Lieu of COVID-19
U.S. government agency, the Financial Crimes Enforcement Network, or FinCEN, recently put out a notice mentioning the risks and symptoms of internet-related nefarious activities occurring since COVID-19 arose. "Many illicit actors are engaged in fraudulent schemes that exploit vulnerabilities created by the pandemic," FinCEN said in a July 30 statement. The agency added: "This advisory contains descriptions of COVID-19-related malicious cyber activity and scams, associated financial red flag indicators, and information on reporting suspicious activity." FinCEN's statement follows a massive Twitter hack weeks ago FinCEN's advisory comes after a large-scale Twitter breach affected many top accounts, including Joe Biden, Elon …
Regulation / July 30, 2020
Tyler Winklevoss: It’s Good for BTC When the Fed Prints Money
U.S. government spending may lead to upward Bitcoin (BTC) prices, according to Gemini crypto exchange co-founder and CEO, Tyler Winklevoss. "The Fed continues to set the stage for bitcoin's next bull run," Winklevoss said in a July 22 tweet, which included an article link on the government agency's discussions of further stimulus spending. Bitcoin holds against inflation As a decentralized borderless digital asset away from government control, Bitcoin holds as a potential hedge to mainstream markets and national dollars — a point often stressed by a number of crypto industry participants. Bitcoin holds a 21 million coin maximum supply, protecting …
Bitcoin / July 22, 2020
Getting Out of Cash Is Key to Wealth and Inflation Protection, Pompliano Says
During a recent YouTube livestream, Morgan Creek Digital co-founder and crypto expert Anthony Pompliano detailed the current post-COIVD-19 economy, noting the U.S. government's money printing and spending efforts. "There is a devaluation of currency," Pomliano said in his July 18 livestream. "The whole secret to building wealth is to get out of cash and get into assets that are denominated in dollars that will continue to go up in value over long periods of time — stocks, real estate, gold, Bitcoin, all this stuff." Assets up while the economy struggles COVID-19 prevention measures have caused economic stalling and job losses. …
Bitcoin / July 18, 2020
Grayscale Says Bitcoin ETF Only a Matter of Time
The crypto market may finally see a Bitcoin ETF approval, although regulators need more time. “We think a Bitcoin ETF is a matter of when, not a matter of if,” Grayscale Investments managing director, Michael Sonnenshein, told Morgan Creek Digital co-founder Anthony Pompliano in a July 15 interview. “The regulators have done a fantastic job of staying ahead of the curve on the digital currency asset class as a whole,” he added. The crypto space moves fast Explaining the speed at which the global digital crypto world moves, Sonnenshein described the clarity U.S. regulatory bodies had provided the industry stems …
Ethereum / July 17, 2020
CFTC Committee to Hold Remote Meeting on DLT and Digital Currencies
The Technology Advisory Committee, or TAC, a technology consultative wing of the CFTC, plans to conduct a remote gathering on July 16, addressing a number of talking points, as noted in a recently-unveiled meeting agenda. "At this meeting, the TAC will hear presentations from the TAC subcommittees on Automated and Modern Trading Markets, Distributed Ledger Technology and Market Infrastructure, Virtual Currencies, and Cybersecurity," the CFTC said in a July 14 statement. The CFTC released the meeting outline The CFTC's statement included a breakdown of the July 16 phone-based meeting. "The TAC meeting agenda includes key issues that will be discussed …
Regulation / July 15, 2020
Cybercrime Up 75% During COVID-19, Congressional Hearing Details
Giving the opening remarks during a U.S. House meeting on illegal digital activities, Representative and subcommittee chair Emanuel Cleaver (D-MO) noted a major jump for online crime in 2020. "We are seeing a 75% spike in daily cybercrimes, reported by the FBI since the start of the pandemic,” Cleavor said in his opening statements of the June 16 virtual hearing before the Subcommittee on National Security, International Development, and Monetary Policy. Speaker dials into specific attacks and sectors After COVID-19 prevention measures caused business closures and shelter-in-place orders in mid-March, many companies looked to remote work. As droves of people …
Regulation / June 16, 2020
SEC Launches Virtual Meetups for Fintech Industry Players
FinHub, a fintech arm of the U.S. Securities and Exchange Commission (SEC) will now host digital meetings for industry players amid COVID-19 lockdowns. "To facilitate ongoing communications, FinHub will host a series of thematically-based virtual P2P meet-ups over the next few months," the commission said in a June 11 statement, adding: "During each series, FinHub staff will meet virtually with innovators, entrepreneurs, or firms that wish to discuss issues related to that series’ theme." FinHub began as a way of guiding innovation FinHub started up in late 2018 as a bridge between burgeoning technologies and the guidelines that govern them. …
Regulation / June 11, 2020