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Members of Congress are urging the federal government to use blockchain solutions to boost COVID relief efforts. In a Wednesday letter addressed to the U.S. President Donald Trump and federal officials, lawmakers said blockchain technology can help identify and authenticate individuals set to receive government benefits, streamline supply chains and create
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Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law.Editor’s noteWithout breaking out the fanfare prematurely, it has been a red-letter week for crypto news. Some of the biggest markets in the world are welcoming new laws and decisions that promise
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Wednesday’s Twitter hack would seem to spell regulatory doom for Bitcoin, which is widely distrusted in Washington. Some lawmakers – and U.S. President Donald Trump himself – associate it with crime. In 2019 Trump tweeted he is not a fan of bitcoin and that “unregulated crypto assets can facilitate unlawful behavior.”
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Democrats in the Ohio State House of Representatives have proposed launching a blockchain voting pilot for overseas military voters registered in the Buckeye State.Introduced Tuesday as part of the Democrats’ elections law overhaul, the bill calls on Ohio’s Secretary of State Frank LaRose to “establish a pilot program” of blockchain
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Japan is feeling the pressure of China’s strident moves forward with a digital yuan. According to a Feb. 7 Reuters report, top lawmakers in the country are calling on their government to push for digital currencies to be placed on the G7’s agenda this year.Akira Amari — former economy minister
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Data privacy has long been seen as one of the major non-monetary usages of blockchain technology. Many governments and corporations are already running recordkeeping systems based on distributed ledgers to securely store internal data.Tech enthusiasts believe that blockchain has the potential to revolutionize personal data and identity management for
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United States lawmakers have appealed to the Federal Communications Commission (FCC) to hold telecoms providers to account for failing to protect consumers against SIM swap attacks.SIM-swapping — alternatively known as a port-out scam — involves the theft of a cell phone number in order to hijack online financial and
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Democratic lawmakers in the U.S. are demanding are demanding that the Federal Communications Commission (FCC) takes action to tackle the rise in SIM swapping attacks.Responding to the groundswell of reported SIM swap heists, senators Ron Wyden (Ore.), Sherrod Brown (Ohio) and Ed Markey (Mass.) and representatives Ted Lieu (Calif.), Anna
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The U.S. taxman's most recent crypto guidance is sowing confusion, according to a letter from eight congressmen published Friday.According to a letter penned by Representatives Tom Emmer (R-Minn.), Bill Foster (D-Ill.), David Schweikert (r-Ariz.), Darren Soto (D-Fla.), Lance Gooden (R-Texas), French Hill (R-Ark.), Matt Gaetz (R-Fla.) and Warren Davidson (R-Ohio),
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A couple of United States lawmakers are looking to classify stablecoins as securities. With Libra considering adopting fiat-pegged stablecoins rather than a single token supported by a basket of national currencies, the proposed crypto project might be facing yet another regulatory hurdle.Meanwhile, lawmakers sponsoring the bill say stablecoins should
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