U.S. Citizen Accused of Using Bitcoin to Evade Government Sanctions

The Justice Department has launched its first criminal prosecution involving the alleged use of cryptocurrency to evade U.S. economic sanctions, a federal judge disclosed. In an unusual nine-page opinion, U.S. Magistrate Judge Zia M. Faruqui of Washington, D.C., explained why he approved a Justice Department criminal complaint against an American citizen accused of transmitting more than $10 million worth of bitcoin to a virtual currency exchange in one of a handful of countries comprehensively sanctioned by the U.S. government: Cuba, Iran, North Korea, Syria or Russia.

More Countries Taking Steps to Protect Internet Users from Harmful Content

Countries are taking more steps to compel social-media platforms to shield users from material they deem harmful through standards that could affect Twitter Inc. as Elon Musk prepares to buy the company. Regulators from Australia to the European Union, India, Canada and the U.K. have recently introduced or are considering new rules for policing online content.

Watchdog Official Predicts Global Body to Regulate Cryptocurrency

Global market regulators are likely to launch a joint body within the next year to better coordinate cryptocurrency rules, a senior watchdog official has said. Ashley Alder, chair of the International Organization of Securities Commissions (IOSCO) said the boom in digital currencies such as bitcoin was one of the three main areas authorities were now focused on, alongside COVID and climate change.

Appeals Court Allows Texas to Enforce Law Limiting Content Regulation

A federal appeals court ruled that Texas for now can enforce a law that prohibits the internet’s biggest social-media platforms from suppressing users’ content based on the viewpoint of their speech. Texas Republicans enacted the social-media law last year, saying they were striking back against what they view as Silicon Valley’s suppression of conservative political views on Facebook, Twitter and other major platforms.

Legislation Would Create Commission to Protect Consumers Online

Sen. Michael F. Bennet (D-Colo.) will introduce the Digital Platform Commission Act, a bill to establish a new five-person commission responsible for protecting consumers in the age of Big Tech. According to proposed text viewed exclusively by The Washington Post, the agency would have the power to interrogate the algorithms powering major tech platforms, and to set new rules to ensure the biggest companies are transparent about how they handle thorny decisions around content moderation on their platforms.

Draft Executive Order Would Limit Chinese Access to Personal Data

The Biden administration has drafted an executive order that would give the Department of Justice vast powers to stop foreign adversaries like China accessing Americans' personal data, according to a person familiar with the matter and excerpts seen by Reuters. The proposal, which is being reviewed by government agencies, would also direct the Department of Health and Human Services (HHS) to prevent federal funding from supporting the transfer of U.S. health data to foreign adversaries, according to the excerpts.

Facebook Oversight Board Criticizes Move to Withdraw Ukraine Guidance

An oversight board for Facebook and Instagram parent Meta said it was “disappointed” after the social media company withdrew a request for policy guidance on content moderation related to the war in Ukraine. In a series of tweets, the Oversight Board, which is independent from Meta and made up of about 40 members from around the world with varying backgrounds, said Meta’s withdrawal for guidance on posts involving the war in Ukraine “raises important issues.”

Musk Reportedly Says That He Supports EU's Digital Services Act

Elon Musk, who is offering to buy Twitter, has given his support to a new European Union law aimed at protecting social media users from harmful content after he met with the bloc’s single market chief. EU Internal Market Commissioner Thierry Breton told The Associated Press that he outlined to Musk how the bloc’s online regulations aim to uphold free speech while also making sure whatever is illegal “will be forbidden in the digital space,” which Musk “fully agreed with.”

Musk Says He Would Reverse Twitter's 'Bad Decision' to Ban Trump

Elon Musk said he would reverse Twitter’s ban on former president Donald Trump, articulating for the first time his stance on one of the most consequential decisions before him at the social media site he is acquiring. “I do think it was not correct to ban Donald Trump. I think that was a mistake,” Musk said at an event hosted by the Financial Times. “It alienated a large part of the country and did not ultimately result in Donald Trump not having a voice.”

Former Facebook Moderator Files Lawsuit Over Working Conditions in Kenya

A former moderator working for Facebook owner Meta Platforms Inc. filed a lawsuit alleging that poor working conditions for contracted content moderators violate the Kenyan constitution. The petition, also filed against Meta's local outsourcing company Sama, alleges that workers moderating Facebook posts in Kenya have been subjected to unreasonable working conditions including irregular pay, inadequate mental health support, union-busting, and violations of their privacy and dignity.

Clearview AI Settles ACLU Lawsuit, Agrees to Limit Facial Recognition Database

Clearview AI, the facial recognition software maker, settled a lawsuit brought by the American Civil Liberties Union and agreed to limit its face database in the United States primarily to government agencies and not allow most American companies to have access to it. Under the settlement, which was filed with an Illinois state court, Clearview will not sell its database of what it said were more than 20 billion facial photos to most private individuals and businesses in the country.

Meta Criticizes German Antitrust Order to Curb Its Data Collection

Meta Platforms, owner of Facebook, criticized a landmark German antitrust order to curb its data collection as 'clearly flawed' and which undermines EU data protection rules. Meta's criticism of the German antitrust watchdog came after the latter in 2019 said the world's largest social network had abused its market power by collecting users' data without their consent and ordered it to stop.

Yellen Reiterates Call for Regulation of Stablecoins After TerraUSD Drops

A decline in the price of a major cryptocurrency that was purportedly pegged to the dollar prompted Treasury Secretary Janet Yellen to reiterate calls for Congress to authorize regulation of so-called stablecoins. TerraUSD, the fourth-largest stablecoin and 10th-largest cryptocurrency by market value according to CoinMarketCap, saw its price fall as low as 69 cents Monday after a series of large withdrawals over the weekend.

U.S., EU, U.K. Blame Russia for Cyber Attack on Satellite Modems in Ukraine

The US, European Union and the UK have blamed Russia for a hack that knocked out internet service for tens of thousands of satellite modems in Ukraine and elsewhere in Europe at the onset of Russia’s invasion on February 24. The cyberattack on a satellite network owned by US-based telecommunications firm Viasat disrupted communications in Ukraine an hour before Russia’s full-scale invasion, according to an EU statement, and the collateral damage included knocking thousands of wind turbines offline in Germany that relied on the satellite network.

  • Read the article: CNN

Treasury Department Issues First Sanctions Against Cryptocurrency Mixer

The Treasury Department issued its first sanctions against a cryptocurrency mixer, a service that pools digital assets to obscure their owners, as it continues its pursuit of more than $600 million that North Korean hackers stole from the Axie Infinity video game. The move targets a mixer called Blender. The hackers have used it to process more than $20 million of their haul since their March attack on the game, Treasury said.

Under U.S. Pressure, Chinese Tech Companies Curtailing Business in Russia

Chinese tech companies are quietly pulling back from doing business in Russia under pressure from U.S. sanctions and suppliers, despite calls by Beijing for companies to resist overseas coercion. Several major companies are curtailing shipments in Russia, where Chinese tech firms dominate the market for many products, without making any public announcements, according to interviews with people familiar with the matter.

German Classification of Meta Gives It More Control Over Facebook

Germany's cartel office said that Meta Platforms Inc., the owner of Facebook, has "paramount significance for competition across markets", a classification which gives the regulator more leeway to curb digital companies' market power. Under legislation introduced by German lawmakers in early 2021, the cartel office can ban what it deems to be anti-competitive activities.

The GigaLaw Firm helps companies of all sizes protect their brands online, using domain name dispute policies – such as the Uniform Domain Name Dispute Resolution Policy (UDRP) – and other legal tools available to copyright and trademark owners on the Internet.