Legislation Would Hold Social Media Firms Responsible for Harm to Kids

Social-media companies would be held responsible for harm they cause to children under bipartisan legislation, in the latest move to strengthen regulation of internet platforms. Dubbed the Kids Online Safety Act, the measure by Sens. Richard Blumenthal (D., Conn.) and Marsha Blackburn (R., Tenn.) would also require tech companies to provide periodic assessments of how their algorithms, design features and targeted advertising systems might contribute to harm to minors.

Texas Suit Says Facebook's Facial-Recognition Tech Violates Privacy Laws

The Texas attorney general filed a suit against Facebook parent Meta Platforms Inc., charging that the social-media giant’s longstanding and now discontinued use of facial-recognition technology violated that state’s privacy protections for personal biometric data. The lawsuit, filed in state district court in Marshall by Texas Attorney General Ken Paxton, seeks civil penalties in the hundreds of billions of dollars, according to a person familiar with the matter.

Nigerian Rights Croup Seeks Disclosure of Government Agreement with Twitter

Nigerian rights group has asked the High Court to force the government to publish an agreement with Twitter that led to the restoration of the social media company's services last month following a six-month ban. Nigeria suspended Twitter last June after the U.S. company removed a post from President Muhammadu Buhari that threatened to punish regional secessionists.

Senators Seek Transparency from CIA in Bulk Data Collection Program

A pair of U.S. senators say the CIA needs to be more transparent about a newly revealed agency program involving bulk collection of data, including information on some Americans. The existence of the program was made public when an April 2021 letter to the CIA from Democratic Sens. Ron Wyden and Martin Heinrich was declassified in a heavily redacted form.

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European Publishers Council Accuses Google of Anticompetitive Ad Practices

The European Publishers Council is accusing Google of anticompetitive digital advertising practices, according to a complaint filed with the European Commission. The council is calling on the commission, which is already investigating Google’s advertising technology, to take action against the search giant to “break the stranglehold that Google has over us all.”

Chinese Software Firm Denies Allegations of IP Theft from Dutch Company

China's Dongfang Jingyuan Electron, which makes software for chip manufacturing procedures, has denied reports about alleged IP theft from Dutch lithography giant ASML Holding NV, calling them "false information." On an official social media account, the company said the "recent appearance of a large number of reports related to our company in online media that are inconsistent with the facts."

Senate Judiciary Committee Approves Bill on Child Sex Abuse Online

The Senate Judiciary Committee unanimously advanced a bill aimed at holding tech platforms responsible for the spread of child sexual abuse material, despite widespread opposition from digital rights and industry groups. The Eliminating Abusive and Rampant Neglect of Interactive Technologies (EARN IT) Act would carve out liability protection given to online platforms under Section 230 of the Communications Decency Act, opening companies up to federal and state lawsuits for hosting content exploiting children.

Microsoft Announces Principles to Promote Competition in App Stores

Microsoft announced principles intended to promote competition in its app stores, as the company tries to stay a step ahead of policymakers around the world weighing new regulations to prevent large tech companies from abusing their smaller rivals. Microsoft CEO Satya Nadella, President Brad Smith and other company executives at a Washington news conference outlined 11 new principles that would apply to the company’s app stores.

CFTC Chairman Asks Congress for Authority to Regulate Cryptocurrencies

The head of the Commodity Futures Trading Commission called on lawmakers to grant his agency authority to regulate cryptocurrencies such as bitcoin, saying the “speculative fervor” around such assets has left investors in need of protection. In a hearing before the Senate Agriculture Committee, which oversees derivatives markets, CFTC Chairman Rostin Behnam also echoed the skepticism expressed by his fellow Biden administration regulators about the potential that cryptocurrencies offer.

European Central Bank Preparing for Russian-Sponsored Cyber Attack

The European Central Bank is preparing banks for a possible Russian-sponsored cyber attack as tensions with Ukraine mount, two people with knowledge of the matter said, as the region braces for the financial fallout of any conflict. The stand-off between Russia and Ukraine has rattled Europe's political and business leaders, who fear an invasion that would inflict damage on the entire region.

Pro-China Accounts Flood Twitter in Attempt to Dilute Human Rights Focus

Pro-China accounts have been flooding Twitter with messages that include the hashtag #GenocideGames, in what researchers say is an effort to dilute the hashtag’s power to galvanize criticism of the Winter Olympics host nation. Human-rights advocates and Western lawmakers have used the #GenocideGames hashtag to raise awareness about Xinjiang, a region in northwestern China where authorities have conducted forcible assimilation efforts against religious minorities, including Uyghur Muslims. Xinjiang has become a focal point for critics of China’s policies ahead of the Beijing Winter Olympics, which began last week.

Meta, Digital Banking Company Sue Nigeria-Based individuals for Phishing

Facebook parent Meta Platforms said it had filed a joint lawsuit with digital banking company Chime against two Nigeria-based individuals who engaged in phishing attacks to deceive people and gain access to their online financial accounts. The lawsuit, which is the first joint complaint between Meta and a financial services company, alleged that the defendants used Facebook and Instagram accounts to impersonate Chime and lure people to fake branded phishing websites with the aim of obtaining their Chime account login information and withdrawing funds.

Justice Department Seizes $3.6 Billion in Bitcoin in Alleged Laundering Scheme

The Justice Department announced it had seized more than $3.6 billion in bitcoin allegedly stolen as part of a 2016 hack of Bitfinex, saying authorities have also arrested a husband and wife in New York for allegedly trying to launder the cryptocurrency fortune. Officials said they are accused of trying to launder 119,754 bitcoin that were stolen after a hacker breached the cryptocurrency exchange Bitfinex and initiated more than 2,000 unauthorized transactions.

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