In a joint statement on August 6, data protection regulators from the United States, United Kingdom, European Union, Canada, and Australia came head-on, issuing a joint statement slamming the Libra project and Facebook for failing to address the fledgling cryptocurrency’s privacy risks.
Less than 12 hours after it was announced, Facebook’s new libra cryptocurrency was already causing the kind of concern in European financial circles that even Bitcoin has not been able to generate.
Crypto browser Brave’s Chief Policy & Industry Relations Officer Johnny Ryan testified Tuesday at the U.S. Senate Judiciary Committee in favor of restricting advertiser’s access to user’s personal data. The hearing on “Understanding the Digital Advertising Ecosystem and the Impact of Data Privacy and Competition Policy” was a big step forward to helping the older folks who make our internet laws understand the impact they have on the future.
Crypto’s Open Secret: Its Multibillion-Dollar Volume Is Suspect (Bloomberg via Yahoo Finance) Nearly two months ago, we wrote about BitForex, the Singapore-based exchange with suspicious trade volumes and a horrible logo. Bloomberg has finally caught up to Modern Consensus and they have some more details about it. Why would BitForex do it? “Transaction mining, also known as trade mining, is a controversial practice. On BitForex, users earn the equivalent of $1.20 in digital tokens issued by the exchange for every $1 they pay in transaction fees. It’s a system that critics say is tailor-made to encourage wash trading — in which a trader, or a team of traders, buy and…