fabiochiu/medium-articles huggingface dataset:
Trux Highlights Their Commitment to Diversity and Inclusion by Partnering with The Tech Connection
By: The Tech Connection
Tags: Techconnection, Diversity, Diversity And Inclusion, Trux, Diversity In Tech

The Tech Connection Inc. is pleased to announce a new employer partnership with Trux as an INCLUSIVE INNOVATION, CERTIFIED ASSOCIATE.

As a group of industry veterans, technology leaders, and hard-working innovators, Trux is comprised of individuals that are passionate about bringing technology to the people that technology left behind. Its users are people that build our nation’s roads, bridges, and buildings — the avenues that keep our society connected.

Here’s what Kathy Breslin, Vice President of Human Resources at Trux, had to say about what makes their company an innovative and amazing place to work:

Why is Trux such an amazing place to work? What sets you apart from other companies?:

Trux is disrupting the construction industry. Our team works in cutting edge and innovative technology within an environment that is collaborative, driven, and fun while scaling a business. Our technology and passion to win sets us apart. We are driven to deliver a superior client experience.

How important is diversity at Trux?:

Diversity is extremely important at Trux. We are focused on creating a “best in class” culture that can only be created with diversity in employees and thought.

What has your team done in the past to support diverse talent?:

We support our managers to lead diverse teams through education around unconscious biases and how to identify talent that may seem different. Our future plans include creating more communities and mentorship teams within Trux to help our employees develop and grow professionally.

What does your team hope to do in the future to support more diverse talent?:

We have amazing plans that support diverse talent at Trux. One of those is to create more communities and mentorship teams internally to help our employees develop and grow professionally.

Tell us about one or two of the new innovative solutions your team is working on this year.:

Trux is unleashing the power of mobile technology on the construction industry by building integrated, data-driven solutions to problems that construction companies face every day.

The Tech Connection is a recruitment platform that helps companies make meaningful connections to empower and engage diverse talent for their open job opportunities. Are you hiring diverse talent and need a hand? We are happy to help! Reach out to us at www.thetechconnectioninc.com
The Importance of Diversity in the STEM Sector
By: Jaymie White
Tags: STEM, Diversity In Tech, Diversity And Inclusion, Diversity

Learn more. Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Learn more

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MedTech Kaynaklı Yapay Zekada Regülasyon Belirsizliği
By: Osman Gazi Güçlütürk
Tags: Sağlık, Regulation, Yapay Zeka, Artificial Intelligence, Hukuk

Learn more. Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Learn more

Make Medium yours. Follow the writers, publications, and topics that matter to you, and you’ll see them on your homepage and in your inbox. Explore
Bitcoin, Stablecoins y CBDCs: El mundo que viene.
By: Julio Ferron
Tags: Bitcoin, Regulation, Cryptocurrency, Technology, Cbdc

A cryptocurrency that aims to maintain a stable value relative to a specified asset, or a pool or basket of assets, stablecoins inhabit the same realm as Bitcoin and other cryptocurrencies, in that they are electronic, can be exchanged peer-to-peer and are not issued by central banks.

Stablecoins are token-based; their validity is verified based on the token, itself, rather than the identity of the counterparty, as is the case for account-based payments.

BIS, 2020
Tus operaciones en pesos mexicanos más protegidas
Tags: Regulation, Mexico, Fintech, Cryptocurrency

Learn more. Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Learn more

Make Medium yours. Follow the writers, publications, and topics that matter to you, and you’ll see them on your homepage and in your inbox. Explore
Your transactions in Mexican pesos more protected
Tags: Fintech, Mexico, Regulation, Cryptocurrency

We are very happy to announce that as from today all our operations with Mexican pesos will be no longer operated by Bitso and start to be processed through Nvio, the first Electronic Payment Funds Institution (IFPE for its initials in Spanish) regulated and supervised by the authorities of the financial sector in Mexico.

In order to continue operating normally with your Bitso account it is important that you accept the Terms of Use, as well as the Privacy Notice of Nvio. Operating with Nvio offers you the possibility to make and receive digital payments in Mexican pesos in an easy, fast and safe way.

This change is excellent news for you as a Bitso user, since now all your operations in the platform, from our website or App, will be supported by a regulated financial institution that guarantees the fulfillment of the highest national and international standards. On one hand, the operations you make with Mexican pesos will be processed by Nvio, the first Financial Technology Institution in Mexico. On the other hand, as you may remember, since August last year, operations with crypto-currencies are regulated under the DLT license of the Financial Services Commission of Gibraltar.

In Bitso we are committed to innovation and growth of the fintech sector in Mexico, so we seek to offer all our users transparent, efficient and reliable products and services that help them keep their funds increasingly safe and protected.

How will I continue to operate in Bitso?

It is very simple to continue with your operations:

Once you complete the necessary data, accept Nvio’s Terms of Use and Privacy Notice, you will be able to continue trading normally in our platform.

From January 2021 by interacting with Mexican pesos, either through SPEI, cash funding or Bitso Transfer, you will be using the services of Nvio Pagos México VIS.A.P.I de C.V, Electronic Payment Funds Institution regulated and supervised in Mexico.

The trading and custody of crypto-currencies as well as the sending and withdrawal of the same will continue to be a regulated activity in Gibraltar, under the DLT Regulatory Framework of the GFSC.

During your experience and operation, you will continue to see a clear separation between the services that are provided in Mexico (which will be linked to Nvio) and those that are provided in Gibraltar.

If you have any questions please visit our Frequently Asked Questions page or contact us through our Help Center.

We are very excited to continue growing together!
Former JPMorgan executive becomes a new member in Ripple’s Board
By: Shze Jie Tan
Tags: Tokenizemalaysia, Regulation, Jpmorgan Chase, Ripple, Board Of Directors

The former chief regulatory affairs officer at banking giant JPMorgan Chase, Sandie O’Connor, is joining the board of directors of Ripple.

O’Connor has 31 years of working experience in JPMorgan, serving as chief regulatory affairs officer and treasurer for the bank before her retirement in 2019. Starting from July 2020, she has been a systemic resolution advisory committee member for the Federal Deposit Insurance Corporation (FDIC).

The CEO of Ripple, Brad Garlinghouse, believes that O’Connor’s experience would help the company to build a more inclusive financial system.

Brad Garlinghouse said that:

“The U.S. needs a single clear regulatory framework for crypto that levels the playing field and supports American innovation and companies.”

He further added that the joining of O’Connor in the Board may help Ripple to move toward this path.

According to a blog post by Ripple on 14th DEC 2020, O’Connor will provide advices on key government relations and regulatory initiatives as part of her role on the board.

On the other hand, Garlinghouse and Ripple’s co-founder, Chris Larsen, have both stated that the lack of regulatory clarity from the U.S. may drive the firm to move its headquarters from San Francisco to another country. Last month, Ripple opened a regional office in Dubai and a board member has proposed Japan may be the “most promising candidate” for the company’s new headquarters.

Source from: https://cointelegraph.com/news/former-jpmorgan-exec-joins-ripple-s-board
Fitness & Probity — Renewed Focus
By: Gecko Governance
Tags: Regulatory Compliance, Central Bank, Financial Services, Regulation, Fund Management

In our earlier GECKO Governance article, “Central Bank of Ireland Publishes CP86 Review Findings”, which can be accessed here we considered the second “Dear CEO” letter issued by the Central Bank of Ireland (Central Bank) on 17 November 2020.

In this follow-up article, we have illustrated how our software can assist with overcoming weaknesses found in firms’ compliance with Fitness & Probity Regime (F&P) and the need to plan for the additional compliance and HR requirements that the new Senior Executive Accountability Regime (SEAR) will involve.

In the last three years, three firms have been sanctioned by the CBI for F&P related failures under the Administrative Sanctions Procedure (“ASP”) regime. Having policies and procedures in place is a starting point but is simply not enough. To avoid facing regulatory fines, firms must understand the design as to why they are incorporated and those who demonstrate this understanding will be much better placed to comply with the anticipated new regulatory framework for individual accountability SEAR, giving you the possibility to avoid any potential conflict in the future.

GECKO Governance can assist you in the review of F&P policies and procedures with our financial expertise and knowledge and provide you with an end-to-end F&P solution, customisable to your organisation.

As experts in governance, we stay ahead of the curve in regulatory and compliance requirements. Get in touch with us to learn more about the GECKO F&P Solution.

Contact Us: hello@geckogovernance.ie
“Open Amazon” to follow “Open Banking” in Korea?
By: Norbert Gehrke
Tags: Financial Services, Regulation, Open Banking, Innovation, Korea

We have long argued that Open Banking regulation creates an uneven playing field that has been left surprisingly unexploited by other financial services players (see “Are Insurers missing the Open Banking Opportunity?”).

In fact, looking at Open Banking regulation around the world, Australia stands out with its “Consumer Data Right” regulation that will extend beyond banking to include insurance, telecoms, power companies, etc.

Over the past three months, the Financial Services Commission (FSC) in Korea has conducted five “Digital Finance” consultative meetings, discussing ways to improve rules and regulations for an ‘upward leveling’ of financial regulations for financial institutions, FinTechs and big techs alike, to promote competition and innovation for all.

A total of forty out of sixty-two suggestions (65%) have been accepted on the issue of regulatory arbitrage and digital transition, with fifteen others pending for mid- to long-term review.

The key suggestion under “regulatory arbitrage”, impacting the broader e-commerce industry, reads as follows:

Make data provision for MyData more equitable for banks and electronic financial businesses (e-commerce businesses) by having e-commerce entities open up order history information.

We believe this is an industry first. It is also not clear how they would go about the implementation, given that the e-commerce business would not fall under the FSC scope, so cabinet-level discussions seem necessary. If you have heard about similar moves by regulators in other jurisdictions, please share that information in the comments.
Mark, the real intrusion by the other social media giants is curated messaging and echoing which…
By: Eddie Schutter
Tags: Facebook, Mewe, Twitter, Regulation, Social Media

Mark, the real intrusion by the other social media giants is curated messaging and echoing which results in mass social engineering. It’s One thing to sell a person’s meta-data, it’s another to influence society as a while through engineered information releases heard culling. This is similar to the intrusions of privacy outlined in FCC 74–78. Do you still feel there should be no regulation, or is acceptable to apply some regulation in the interest of personal rights and public safety, then deregulate as industry maturity self regulates?
The second phase of protective measures
Tags: Regulation, Curfew, Hungary, Covid 19

The Government declares a state of danger in the entire territory of Hungary on the 4th of November 2020. Because of the massive disease outbreak, the Government issued new regulations for the protection of the people’s health and lives. You can find the new life changing measures in the following:

CURFEW

Between 8 p.m. and 5 a.m. you have to be at home or at your current accommodation. In case in this time interval the police or the Hungarian defense force member finds you in the streets the police may impose a fine ranging from HUF 100 000 to HUF 1 000 000. Against this decision you cannot lie an appeal.

There are a few exceptions when you allowed to leave your residence:

in a situation endangering health or life or threatening serious damage

for performing work

for travelling to your place of work, and for travelling from your place of work to your place of residence

participating in a training or sports competition held for a competitive athlete within the meaning of the Act on sports

In the mentioned cases you have to present a certification that allows you to stay in a public place.

At the link below you can download the required employer’s certification in Hungarian. The document must be undersigned by your employer. If you need any help in this regard, please don’t hesitate to contact us.

The Government also made an exception for the dog owners, they can leave their accommodation between 8 p.m. and 5 a.m. for dog walking. If you don’t know the exact distance, at this website below you can search the area where you can walk with your dog without get a fine.

FAMILY GATHERINGS

With the exception of marriage and funerals, family gatherings and private events may be held only if the number of persons present at the same time does not exceed ten. The number of persons present at a funeral shall not exceed fifty.

ACCOMODATION ESTABLISHMENTS

With the exceptions of those who arriving to engage in business, economic or education activities, staying at an accommodation establishment shall be forbidden.

CATERING FACILITIES

Staying in a catering facility shall be forbidden except for those employed there and those who pick up and deliver food for take-away.

STORES

With the exception of those employed there, staying in a store, in a lottery store, and in a national tobacco shop shall be forbidden between 7 p.m. and 5 a.m. These stores can be open only during this time of the day.

In the above-mentioned places, the operator or manager is obliged to ensure the protective measures. If the police find the operation illegal, they may temporarily close the place for a period less than a day, or even for 1 year. The police can impose this sanction together with a fine.

EDUCATION INSTITUTIONS

Nurseries, kindergartens and primary schools up to the 8th grade allowed to be open.

Secondary schools from 9th grade shall operate in digital working arrangements.

In higher education institution the education takes place in digital form.
Iranian Government Lags Behind on Data Regulations
By: Steven Terner
Tags: Policy, Regulation, Iran, Internet, Data

The Supreme Council of Cyberspace is supposed to meet once every fifteen days to discuss and formulate policy regarding internet security, data regulations, and the like. Although it has been unable to meet since October due to the ongoing global pandemic, President Rouhani did convene the Executive Council of Information Technology on December 4. Nonetheless, the Majles has repeatedly postponed its planned discussions of data regulation legislation.

The Supreme Council of Cyberspace was formed by decree of Supreme Leader Khamene’i in 2012, is led by the president, and is comprised of the parliament speaker, head of the judiciary, ministers of education, defense, information, and other offices whose purviews include the dissemination of information and law enforcement.

Despite delays caused by the pandemic, the Majles today, 19 Azar 1399/9 December 2020, proposed a bill that would transfer executive authorities over the publication, transmission, and dissemination of data and information to the judiciary. Cited as a move intended to better protect privacy and state secrets, this would ostensibly serve to broaden the power of the judiciary to censor information on the internet.

Politically, this can be seen as an effort to take power from the presidency, and put it in the reactionary hands of the judiciary, which is engaged in a broad and ongoing effort to silence political dissent on the internet.

That being said, state media have also been publishing guides on how to prevent hacking of personal computers and smartphones. Above all else, they recommend using secure passwords, changing passwords regularly, and refraining from entering personal information on the internet, especially on unfamiliar and untrusted websites.
New Mexico is on track to have the weakest methane emissions regulations in the nation
By: High Country News
Tags: Pollution, Regulation, New Mexico

Laguna Pueblo Gov. Wilfred Herrera, Jr., urges the state to strengthen its proposed air quality rules.

By Wilfred Herrera, Jr.

The well-being of the natural world is central to the identity of the people of the Pueblo of Laguna and tribal people throughout New Mexico. Our ancestors came to Laguna generations ago when drought forced them to migrate from the Four Corners area. As we struggle with severe drought again today, connected to human-caused climate change, nothing is more important than protecting our climate, our air, our water, and our people.

Gov. Michelle Lujan Grisham, D, has our complete support for her efforts to make New Mexico a national leader in combating oil and gas pollution. Now, we call on her environment and natural resources agencies — the New Mexico Environment Department and Energy Minerals and Natural Resources Department — to help her step up to the challenge by enacting the most protective methane rules in the nation.

Methane is a potent greenhouse gas that, in the short term, is more than 80 times more harmful than carbon dioxide, because it absorbs more energy.

Laguna, New Mexico, one of the six villages that make up Laguna Pueblo in the San Juan Basin. A new draft rule includes exemptions for low-producing stripper oil wells that are littered throughout the basin. Steven Clevenger/Corbis via Getty Images

In New Mexico, oil and gas operations release more than 1 million metric tons of methane every year. With the Trump administration’s rollback of federal methane and other air pollution rules, it’s clear we need to act for the protection of our people.

New Mexico needs effective air pollution and methane regulations that require oil and gas companies to cut methane emissions and leaks. This will stop energy waste and protect our air and climate for future generations.

Instead, as they stand now, New Mexico’s proposed methane regulation rule and air quality rules would be the weakest in the nation, with loopholes exempting 95% of the wells in New Mexico from regulation. This is unacceptable.

See the rest of this opinion piece here: https://www.hcn.org/articles/opinion-energy-industry-new-mexico-is-on-track-to-have-the-weakest-methane-emissions-regulations-in-the-nation

Wilfred Herrera, Jr. is Governor of the Pueblo of Laguna and will be completing a two-year term ending December 31, 2020. He served as Vice Chairman of the All Pueblo Council of Governors (APCG) beginning January 1, 2020 and now serves as Chairman. The APCG is made up of 20 Pueblos in New Mexico and Ysleta Del Sur, El Paso, Texas.
India Reportedly Plans to Tax Crypto Investors As Bitcoin Price and Trading Activities Soar
Tags: Regulation, Taxes, India, Cryptocurrency

Some experts believe it will be difficult for the country to tax crypto because there’s no regulation in place for crypto dealings. While India is yet to release its crypto regulation, an earlier report suggests that the country may regulate crypto as commodities. Experts believe that the tax authorities may classify crypto gains as business income, and investors may have to pay up to 30% tax on profits made from selling cryptocurrencies.

Credits:Unsplash

Indian traders may soon be required to pay taxes on their crypto gains as new reports claim that the country’s tax authority is in possession of investors’ data.

Barely ten months after the Indian Supreme Court lifted the RBI’s ban on cryptocurrency transactions, fresh reports from yesterday revealed that the country’s tax authority is now keeping a close watch on crypto traders as Bitcoin’s price continues its bullish trend.

According to local media, the Indian Tax Department is already in possession of data belonging to investors who invested in Bitcoin or cryptocurrencies through banking channels before the RBI’s ban in 2018.

Taxing Crypto Gains

This development is coming after data shows a tremendous increase in crypto trading activities in India. Since the crypto ban was lifted earlier this year, retail investors between the ages of 25 and 40 have been spending millions of dollars on crypto trading every day.

Over $25 Million Daily

Two of India’s largest crypto trading platforms, Binance-acquired WazirX and CoinDCX, saw a significant increase in activities over the last six months. According to an earlier report, WazirX recorded a massive 125% increase in user signups in the last two quarters. The exchange also has a daily trading volume of $19–26 million, with more than 85% of the transaction coming from Indian traders.

Some experts believe it will be difficult for the country to tax crypto because there’s no regulation in place for crypto dealings. They feel a regulatory framework will provide the needed clarity to make taxation easier. While India is yet to release its crypto regulation, an earlier report suggests that the country may regulate crypto as commodities.

Declaring Bitcoin Profits As Capital Gains

Although it is unclear how India plans to implement the tax law, sources familiar with the matter claimed that the country’s taxman is already preparing to collect tax on the gains made from Bitcoin. And notice may be sent out to investors if “something goes out of this.”

Experts believe that the tax authorities may classify crypto gains as business income, and investors may have to pay up to 30% tax on profits made from selling cryptocurrencies. However, some tax experts are advising their clients to declare their Bitcoin earnings as capital gains, which is similar to profits generated from shares.

Reported by: https://cryptopotato.com/india-reportedly-plans-to-tax-crypto-investors-as-bitcoin-price-and-trading-activities-soar/
ELECTION MANIFESTOS: HAS ANYTHING CHANGED?
By: Srishti Arora
Tags: Manifesto, Regulation, False Promises, Elections, Politics And Elections

I remember when I was first acquainted to economics, my teacher told me how the election manifesto has not changed since the time she was a student. It is actually funny and alarming at the same time because more than 30 years later, it still remains access to food, clean drinking water and electricity. Countless elections later, we are still at the same circle and even the basic necessities of life aren’t in place. Is this a measure of our progress? And if so, have we not progressed at all? Do election manifestos mean nothing?

Manifestos aren’t unique to Indian politics. They are followed all over the world in all major economies with varying degrees. Yet, they aren’t effective in ensuring progress. This could be because election manifestos are not legally enforceable documents. They serve merely as a promise that the parties undertake. If the very reason due to which people vote for their party is not fulfilled, aren’t elections just another hoax for people in power to promise whatever they want and then later just vanish from discourse. As of now it is their moral duty and not a legal duty.

WHAT CAN BE DONE?

In 2015, a PIL was filed by Mithilesh Kumar Pandey but, it was dismissed by the Supreme Court. In his PIL, the petitioner gave the contention regarding idea to make political parties accountable regarding Election Manifesto. But it was dismissed on the ground of separation of power, i.e. it is not the court’s duty to examine the unfulfilled promise and we are not bound to do so. Moreover, the Supreme Court has no power to direct the parliament to amend an act or make any new law.

However, this is one area where guidelines and regulations need to be put in place since not only election manifestos are not just about promises, but they also reflect the ideology of the party in power.

On comparison of BJP vs Congress’ election manifesto in 2019, the problems India is grappling through becomes much clearer. Congress, on one hand talks about a freer and just India whereas BJP tries to play on Indian values and the big schemes it has launched in the past five years. Even though most political parties are widely criticized for departing from their manifestos, there is no law which binds them to follow what was promised. This specifies a need for a missing regulation- one that can play a huge role in democracy in the coming years.
A Futurist’s Case For Tech Regulation
By: Futurist Gerd Leonhard
Tags: Regulation, Tech, Business, Future, Technology

A Futurist’s Case For Tech Regulation

The adage “too much of a good thing can be a very bad thing” is true for most things that might cause us harm but that we enjoy, regardless — be it food, coffee or alcohol. Yet right now, this obvious need for responsibility and balance is particularly glaring when we consider our exponential technological progress and the increasingly dominant (some would say monopolistic) behaviour of the world’s leading tech giants. Our tech can now do so many amazing things that many of us are constantly tempted to succumb to its wonders all the time, everywhere, and by default; blissfully providing access to our data in return for using a convenient app for free. Yet if you’re concerned about this today, just wait until augmented/ virtual/mixed reality gadgets and apps are perfected — you ain’t seen nothing yet!

Turning human relationships into algorithmic reductions and treating users as mere ‘content sources’ to be data-mined and manipulated has become a trillion dollar business. So if indeed ‘ technology is morally neutral — until we use it (W. Gibson)’ how will we decide what is morally right or wrong?

In this talk, I make the case for why and how exponential technological progress (and those entities that turn it into powerful products) should be regulated in order to avoid both a chilling dominance of the largest players, worldwide, and an overall dehumanisation of society.

Inquire about an engagement (right now… it’s usually virtual)

Related readings on TechRegulation via GerdFeed.
Be aware of your weaknesses and deficiencies
By: Acuity Knowledge Partners
Tags: Advisory, Regulation, Investment, Weakness, Compliance

About the Author

Manish Mohan Raj is the delivery manager in Forensic Compliance team and subject matter expert for the forensic compliance practice. He has over 8 years of experience in the financial services industry. Prior to joining Acuity Knowledge Partners he worked as an associate with Goldman Sachs — GSAM Compliance. He was part of the global forensics team and was part of the marketing and portfolio management compliance team. Manish was also part of the controls management team for the asset & wealth management team at JP Morgan and was part of the HSBC KYC remediation team for multiple lines of business.
Self-Regulation
By: Roni Elias
Tags: Regulation

The US commercial litigation finance industry has been estimated by some as a 5 Billion Dollar industry, although much of the industry’s capital sources are opaque and not well-tracked. While the absolute number is not important, it is fair to say it is a relatively small market in the context of the US economy. However, it is also a fast-growing market. As markets gain notoriety and generate strong absolute returns, they can also be attractive for undesirable market entrants. The industry is now large enough to be organized and capitalized in a meaningful manner and at a point in time in its evolution that will make it effective in ensuring that ‘undesirables’ don’t enter the market, to the benefit of all market participants.

While the benefits of an industry association are generally well known, the commercial litigation finance industry also stands to benefit mainly through its self-regulation. The world of litigation finance is a relatively new area of finance and is a relatively complex one, both from the perspective of capital provisioning, as well as the terms of the financial reporting of outcomes. Further, commercial litigation finance solutions are highly customized for the case or portfolio of cases, and so the application of a ‘cookie-cutter’ regulatory framework could be dangerous. The last thing the industry needs is to be regulated by someone unknowledgeable about litigation finance. The potential for unintended consequences, similar to what has happened in certain states on the consumer side, is a great example of why the industry should self-regulate.

Besides, the legal profession is already highly regulated. The profession itself has numerous rules covering ethics and rules of civil procedure. One could argue that the last thing the profession needs is another rule. I think what is more important to the consumers of litigation finance is transparency about how it works and an internal monitoring function to ensure adherence to existing rules. These are best crafted by those involved in the daily workings of commercial litigation finance.

The biggest concern is that litigation finance becomes a political platform issue that results in legislative reform that ultimately harms consumers more than it helps, and then those same reforms make their way into the commercial side of the market. This is an area where a strong association liaising with other closely aligned associations can combine their resources to protect their collective interests.

Topics: Legal Profession | Ethics and Rules | Litigation Finance

Works cited:

https://www.legalist.com/wiki/regulations-in-litigation-finance

https://www.wealthforge.com/hubfs/LexShares-Litigation-Finance-Whitepaper.pdf
Regulation Coming To Stablecoins From The U.S.
Tags: Regulation, Bank, Stablecoin

The new STABLE law could easily turn into a nightmare for stabilcoin businesses in the United States, as it will bring stablecoins closer to the banking ecosystem rather than the tech world.



On December 2, 2020, Congressman Rashida Tlaib, along with Representative Jesus “Chuy” Garcia and Representative Stephen Lynch, introduced the new stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, a law that essentially concerns all stabilcoin issuers. By law, stablecoins such as USDT or USDC are required to have a banking contract and be licensed by many federal agencies to market.



To Be Considered As A BankThe STABLE Act aims to protect low-income families who have invested in stablecoins, who may be forced by stablecoin companies, where they are not subject to the same conditions as banks when launching a stablecoin.



In the one-page document, “Wall St. and it’s critical not to let Silicon Valley own the future of digital payments,” the statement reads. The report cites concerns about Facebook’s efforts to develop a cryptocurrency that could compromise the stability of the financial system, and that low-and middle-income families, immigrants and non-white people would be hurt most if something went wrong.
Artificial intelligence and manipulation of market behavior: ex ante evaluation in the regulator’s arsenal
By: Frédéric Marty
Tags: Regulation, Consumer Behavior, Artificial Intelligence, Transparency, Accountability

DL4T Seminar, Monday 7 December 2020 with Eva Thelisson, Nathalie de Marcellis-Warin and Thierry Warin

The development of the digital economy poses unprecedented problems in terms of their scope, in terms of possible market manipulation and manipulation of consumer choices. Deceptive and unfair strategies in the field of consumer law can coexist, and mutually reinforce each other, with infringements in the field of competition, whether it be algorithmic collusion or abuse of a dominant position. Faced with the difficulty of detecting and sanctioning these practices ex post, the dissuasive effect of sanctioning, in particular for possibly irreversible damage, is questionable. To this end, stakeholders are considering the supervisory tools available to market supervisors, consumers or stakeholders of the companies concerned.
Latest news on Blockchain & Regulation — Week 49
By: Titouan Galpin
Tags: Bitcoin, Blockchain, Regulation, Cryptocurrency, Legal

Libra starting in Jan 2021 (?)

Libra’s stablecoin could see light by january 2021 as it was reported in the Financial Times. This first crypto would be pegged to dollar and single currency backed. But Libra is still waiting for its regulatory approval by FINMA in Switzerland that will decide the date of the launch. On this point no announcement has been made since April 2020 (nb: the procedure started in june 2019).

At the same time, Libra Association changed its name to Diem Association (diem = day in latin). The association is looking to turn the page and try to make people forget the panic Libra caused.

Full document here.
Experts believe Biden presidency may boost crypto adoption
Tags: Bitcoin, Regulation, Biden, Cryptocurrency, Crypto

At Creditum we have been keeping a close eye on what experts are saying about the Biden presidency in relation to cryptocurrencies. Although Biden hasn’t personally made a statement about his position on digital assets, there are those in his new team who are known to have a positive view of Bitcoin and other altcoins.

According to John Reynolds at Fintech Times, the good news is “Biden’s presidency comes amid a period in which regulators, policymakers and financial intuitions are increasingly viewing crypto as a mainstay.”

Furthermore, as you’ve probably noticed, the announcement of the president-elect in the days after the polls closed coincided with a surge in the price of Bitcoin and the leading altcoins, such as ETH, LTC and XRP.

What the crypto experts think

Seamus Donoghue, VP, business development, METACO, a crypto platform, told Reynolds the spike in Bitcoin indicates the market is looking beyond the election result. He added, “Regulators globally are aligning on to the fact that Bitcoin and crypto are here to stay and are defining clear frameworks around crypto.”

Others are afraid that a Democrat-led government will focus too much attention on regulations and stifle the sector. Kristin Smith, executive director, Blockchain Association said, “There is always a concern that Democrats in the US tend to be focused on regulation first and I think the crypto industry very much wants appropriate regulation. I think we could run the risk of having too much regulation.”

Others, such as Llia Maksimenka, CEO at PlasmaPay, commented on the fact that the Trump administration hadn’t been particularly friendly to crypto, saying, “The Biden administration on the other hand will welcome a number of new faces who will enter into key regulatory agencies that may be more flexible to create a policy around crypto.”

Most in the crypto sphere have their eyes on Gary Gensler, who is leading the financial policy transition team for Biden. He once called blockchain a “change catalyst,” so his role in the new administration could be “positive for the space, as Nicholas Pelecanos, head of trading at NEM suggests.

Smith added this to her comments, “we still have some unknowns but I think there is a pathway for a Biden administration to end up being a positive development in the crypto policy world.”

A positive year for crypto

It has been a very positive year for cryptocurrencies overall, in part a reaction to concern over using paper money during the pandemic. Perhaps a need to modernise money will be one of the most positive things to come out of the effects of Covid-19 on the world, and make way for more cryptocurrency owners to experience the utility of their assets by spending them, as well as using them to send funds to others anywhere in the world in the fastest, least expensive way possible.
Latest news on Blockchain & Regulation — Week 48
By: Titouan Galpin
Tags: Bitcoin, Blockchain, Regulation, Cryptocurrency, Legal

US: Binance against Forbes

Binance Holding Ltd. is suing Forbes Media LLC and two of its journalists in the state of New Jersey for misleading information contained in an article. The company seeks compensatory & punitives damages for the false allegation held in the article dated from October 29th. According to a leaked document, Forbes reveals that Binance has an elaborate plan to avoid Bitcoin regulators in countries. Binance denies these allegations but however chances of winning the trial are low because of the requirements to prove a fault or harmful intention from Forbes.

Full complaint at the end of this article.
Ebook: The Rise of Telemedicine: Survey and Perspectives
Tags: Telemedicine, Telehealth, Surveys, Regulation, Healthcare

Michael Weissman, Vice President and Content Team Leader, Healthcare

The U.S. telemedicine market surged in the first half of 2020. A July HHS report showed an increase from 0.1% of all Medicare primary care visits being facilitated through telehealth in February exploding to 43.5% by April. Decreased regulation coupled with lockdowns and limited access to traditional in-person care dramatically increased adoption. Companies quickly jumped at the opportunity, highlighted by the $18.5 billion merger of Teladoc Health and Livongo, and Amwell, GoodRx, and (forthcoming) Hims Inc. IPOs.

This eBook, The Rise of Telemedicine: Survey and Perspectives, is a look at telemedicine, its adoption, and possible future. Included in the eBook:

Telemedicine Survey: Patient and Physician Adoption — GLG conducted a survey of both patients and physicians to understand how they felt about telemedicine’s efficacy, and whether they expected it to continue to be a part of medical practices for the foreseeable future, even after a COVID-19 vaccine.

— GLG conducted a survey of both patients and physicians to understand how they felt about telemedicine’s efficacy, and whether they expected it to continue to be a part of medical practices for the foreseeable future, even after a COVID-19 vaccine. Telemedicine Dynamics: Regulatory Perspective — GLG talked with Sarah-Lloyd Stevenson, former Policy Advisor to the White House Domestic Policy Council and former Policy Advisor at the US Department of Health and Human Services, about the shifting legislative winds around telemedicine.

— GLG talked with Sarah-Lloyd Stevenson, former Policy Advisor to the White House Domestic Policy Council and former Policy Advisor at the US Department of Health and Human Services, about the shifting legislative winds around telemedicine. Telemedicine Dynamics: Payer Perspective — GLG spoke with Elizabeth Bierbower, former Segment President of Employer Group and COO of Specialty Benefits, Humana, about how payers — from Medicaid to private insurers — have looked at telemedicine in the past, and how they’re likely to view it in the future.

Both the survey and our experts agree that the pandemic has given telemedicine a foothold to propel itself into the mainstream, while risks still exist in the form of regulation, coverage, and competition from traditional care, once the pandemic subsides.

GLG will continue to provide the perspectives you need to make the smartest decisions, as the landscape shifts. Stay tuned to the Insights section of GLG’s website for updates on telemedicine, care delivery, and the factors that impact it.
Latest news on Blockchain & Regulation — Week 47
By: Titouan Galpin
Tags: Bitcoin, Blockchain, Regulation, Cryptocurrency, Legal

Russia: Follow-up on the law “On Digital Assets”

New amendments have been added to the new law, especially regarding tax evasion. In the previous amendment, the citizen that failed to report a transaction under 13 000$ (1M rubbles) would expose himself to 3 years of prison. In this new amendment, citizens are exposed to 3 years of prison if they fail to report a transaction equal or above 583k$ (45M rubbles) that happened twice in a 3 year period.

Russians also must declare their wallet if it is above 7,700$ (600k rubbles).

New amendments here.
It’s a free market, so why prevent tech whales from swallowing innovative minnows?
By: Enrique Dans
Tags: Regulation, Monopoly, Competition, Big Tech, Acquisition

IMAGE: PxFuel (CC0)

One of the arguments behind the increasing demands for regulation of the major tech companies is the need to control their acquisitions, which are rightly seen as threats to innovation due to these behemoths’ ability to simply buy or copy any idea they find interesting.

On the one hand, the regulators are now scrutinizing these companies’ buyouts to assess their legitimacy, or if they are merely efforts to destroy or neutralize potential competitors. At the same time, some countries are taking a more protectionist approach, seeking to control or prevent domestic players from being bought out by foreign companies. France and Britain have recently passed legislation to protect local industries, especially when a potential threat to national security is perceived, including measures to stymie possible takeovers, such as SoftBank’s purchase of ARM in 2016 or Google’s acquisition of DeepMind in 2014.

But such policies can be a double-edged sword: innovation often happens in companies that depend on buyouts to bear fruit. DeepMind, an artificial intelligence company founded by Demis Hassabis in 2010, is a good example: according to one of its first investors, the project would not have been viable if it had not been for Google’s acquisition.

Similarly, in many cases, acquisition by a big tech player is the prize pursued by many entrepreneurs as a reward for their innovation or having created a fast-growing company. It’s a fine line between encouraging this type of behavior, with the results we’ve seen in recent years, and preventing it, which could condemn many smaller players that have contributed greatly to innovation.

Is there a middle ground: regulatory oversight of acquisitions by powerful companies seems reasonable enough, but needs to be balanced by the fact that being bought out is an incentive for small businesses to innovate. In the technology world — where ideas flow quickly and a well-made acquisition can mean, in many cases, significant savings in the availability of a service that would have been significantly delayed if it had been developed from scratch — we are talking about curbs that can strongly condition the viability of many projects.

In short, a middle way can surely be found that encourages smaller companies to innovate but at the same time protects them from rapacious predators with no interest other than their own growth, even if that’s at the expense both of the market and the interests of consumers.
No one under 18, Please!
By: Amanda Dalmas
Tags: Rules, The Rebel Poets Society, Code Of Conduct, Submission Guidelines, Regulation

This issue came up for the last time.

Photo by Gemma Evans on Unsplash

I consider this pub to be an Adult only pub. I have no way to flag it as such on this platform, but I think that it is obvious. And I thought it was Medium’s policy to screen people's ages, so as to have only 18+.

But this is the second or third time I have had an underage person try to apply to become a writer here. I appreciate their enthusiasm to write and be acknowledged for their skills…BUT I publish highly sexualized content. I refuse to expose kids to it. Anyone under 18 is a kid to me. In fact, I thought it was Medium’s policy to be 18+ not under 18.

But not in my pub! If I find you to be under 18, you will be blocked and reported, Immediately.

I have also updated the Submissions Guidelines and hope that you will all ck it out. As I update it from time to time. But this time it was for this incident.

https://medium.com/the-rebel-poets-society/the-rebel-poets-society-694195b30528

This is a 18+ Pub. No negotiations. ~Amanda Dalmas
Russia: BTC Will Lead To Prison
Tags: Bitcoin, Regulation, Russia, Cryptocurrency, Prison

In Russia, they propose to prosecute for hiding cryptocurrency and transactions on their accounts.

The Russian Ministry of Finance has taken an overly tough stance on the policy of regulating cryptocurrency assets and operations with it. Cryptocurrency owners for hiding information (it is required to provide information 2 times within 3 years) about transactions of digital assets worth more than 45 million rubles will face criminal liability and a term of imprisonment up to 3 years. As we can see, the Ministry of Finance of Russia wants to strengthen control over the crypto assets of the population and operations with them. Violation of regulatory requirements provides for criminal liability, up to and including imprisonment.

Earlier, the Ministry of Finance of the Russian Federation in the proposed law on the regulation of digital assets provided for an amount of 5 million rubles that did not require declaration. And a mandatory prison term of up to 6 months for hiding information on transactions worth 15 million rubles during the year. The Ministry of Finance claims that all decisions are made in accordance with the requirements of the FATF. Compliance with the proposed requirements will significantly reduce the volume of transactions related to tax evasion and money laundering.

This year, the Russian government has developed a law on the regulation of digital assets and made cryptocurrency means of payment illegal. This bill will enter into force in 2021. Holders of digital currency are required to provide information about their assets by April 30, 2022, users must declare the amount of digital currency in their wallets from the estimated value at the time of the transaction.

The RF Tax Service will develop a method for calculating the market price of digital assets. Cryptocurrency exchanges and miners will be required to provide supervisory authorities with detailed information about cryptocurrency and transactions. If the requirements are not met, a fine of 50,000 rubles is imposed. Tax evasion, provides for a fine of 40% of the total taxation on cryptocurrency transactions.

To the above, we recall that the Ministry of Finance of the Russian Federation in the new bill provides for criminal liability and a term of imprisonment of up to 6 months for hiding information about cryptocurrency worth more than 5 million rubles and operations with cryptocurrency worth 15 million rubles within a year. Or a fine from 100 to 300 thousand rubles and community service up to 2 years and deprivation of certain civil rights for up to 3 years. For concealment of data on transactions for 45 million rubles or more, imprisonment up to 3 years is provided. Or a fine and community service for up to 5 years, as well as deprivation of certain civil rights, for up to 3 years.