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US Senators Urge Facebook to Discontinue Crypto Wallet Pilot Citing ‘Insufficient’ Ability to Keep Consumers Safe

A group of U.S. senators has asked Facebook CEO Mark Zuckerberg to discontinue his company’s crypto wallet pilot and commit to not bringing the cryptocurrency Diem to market. “Facebook cannot be trusted to manage a payment system or digital currency when its existing ability to manage risks and keep consumers safe has proven wholly insufficient,” […]

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ProShares bitcoin futures ETF sees historic nearly $1 billion trading day

ProShares’ bitcoin futures exchange-traded fund (ETF) listed on the New York Stock Exchange today, and it was welcomed with explosive interest.  “It absolutely obliterated,” said James Seyffart, Bloomberg Intelligence ETF Analyst. At the time of writing, volumes for the so-called ProShares Bitcoin Strategy ETF (BITO) stood near $1 billion after its inaugural trading day. At […]

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Democrats propose law to mandate disclosure of ransomware payments by US companies

American companies targeted by ransomware attacks would be required to disclose payments made in connection with those incidents under a new law proposed in Congress. Introduced by Senator Elizabeth Warren (D-MA) and Representative Deborah Ross (D-NC), the Ransom Disclosure Act would, per an announcement from earlier this week: “[R]equire ransomware victims (excluding individuals) to disclose […]

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Department of Justice announces crypto-focused ‘enforcement team’

A senior U.S. Department of Justice official said Wednesday that the department is forming a “National Cryptocurrency Enforcement Team” focused on cybercrime and money laundering. Unveiled during the Aspen Cyber Summit, Deputy Attorney General Lisa Monaco said that the goal of the initiative was to “protect consumers.” “We want to strengthen our capacity to dismantle […]

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