Silicon Valley finds itself trapped in political purgatory. With heightened scrutiny over its cryptocurrency, Facebook is already feeling the Washington heat. GinaChon
The U.S. Treasury has “serious concerns” that Facebook’s planned cryptocurrency, Libra, could be misused by money launderers, Secretary Steven Mnuchin said on July 15. He said his department has been very clear to Facebook and other providers of digital financial services “that they must implement the same anti-money laundering safeguards in countering the financing of terrorism as traditional financial institutions.
The banking committees in the U.S. Senate and U.S. House of Representatives will hold hearings on Facebook’s proposed crypto coin on July 16 and 17, respectively. Another House hearing on July 16, held by the antitrust subcommittee, will focus on online platforms and market power. Executives from Amazon, Apple, Facebook and Google are expected to testify.
Separately, Reuters reported on July 12 that the U.S. Federal Trade Commission approved a $5 billion fine for Facebook, which is accused of inappropriately sharing the data of 87 million users with now-defunct British consulting firm Cambridge Analytica. The Justice Department has to approve the settlement, which could also include other restrictions for the company.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
China’s Silicon Valley is transforming China, but not yet the worldElite Chinese students come here before flying off to American universities. Often they come back and start a company
Weiterlesen »
Peter Thiel says FBI, CIA should probe Google’s ‘seemingly treasonous’ ties to ChinaPeter Thiel, a Facebook board member and President Donald Trump’s most vocal backer in Silicon Valley, accused Google of being infiltrated by Chinese intelligence.
Weiterlesen »
Ada Valley raw beef recalled due to possible contamination with broken metal bitsAda Valley Gourmet Foods, Inc. has recalled nearly 3,500 pounds of frozen raw ground beef that may be contaminated with extraneous materials, specifically broken metal bits, the U.S. Department of Agriculture's Food Safety and Inspection Service announced.
Weiterlesen »
Ada Valley raw ground beef recalled due to possible contamination with broken metal bitsAda Valley Gourmet Foods, Inc. has recalled nearly 3,500 pounds of frozen raw ground beef that may be contaminated with extraneous materials, specifically broken metal bits, the U.S. Department of Agriculture's Food Safety and Inspection Service announced Saturday. Five-pound vacuum packages, packed
Weiterlesen »
How tech is my valley?—Beijing's innovation hubHave you ever wondered how caffeine...sounds? kncukier listens to some clever “molecular music” created by Ilkleygrammar students in this week’s “Babbage”
Weiterlesen »
China’s rising tech scene threatens U.S. brain drain as ‘sea turtles’ return homeAbout 80% of Chinese students who get degrees abroad now go back — up from about 33% in 2007, China’s Ministry of Education says. That has implications for the US, with experts worrying that as China turns more attractive for talent, the US will lose out.
Weiterlesen »