Crypto regulation nearly there as Donald Trump creates a Task Force on Market Integrity and Consumer Fraud

From: Captainaltcoin


45th president of the United States, Donald J. Trump signed an executive order which will help establish a task force on market integrity and consumer fraud. With this order Trump declared that, among others, crimes committed with cryptocurrency will become a part of the special consumer protection entity that will operate within the US Department of Justice (DOJ). The entity bears the name of “Task Force on Market Integrity and Consumer Fraud” and will look to handle enforcement of the law which regulates procurement and grant fraud, securities and commodities fraud, digital currency fraud, money laundering, health care fraud, tax fraud and other financial crimes.

Senators vexed by slow pace of Spectre/Meltdown disclosures

From: FCW

By Chase Gunter

Members of the Senate commerce committee expressed frustration about a delay in notifying government about the Spectre and Meltdown chipset bugs, and they want to see a change in industry’s approach to notifications after it uncovers vulnerabilities.

After initially discovering the widespread hardware vulnerabilities in 2017, Intel reportedly alerted a group of customers that included Chinese companies before it notified the U.S. government, prompting concerns of Senate Commerce, Science and Transportation Committee members at a July 11 hearing that foreign governments may find out about security flaws before U.S. officials do.

US Regulator Asks to Be Informed if Member Businesses Use Cryptocurrency

Editor’s Note: Cross-posted from the Federal Financial Forum.

From: Finance Magnates

Relevant activities include mining and acceptance of cryptocurrency from customers.

The Financial Industry Regulatory Authority, a self-regulatory body of the American financial industry that is subordinate to the Securities and Exchange Commission, has published a notice encouraging its member firms to notify it if they engage in or intend to engage in any activities related to cryptocurrency.

FINRA regulates trading in financial derivatives such as securities, futures, options, and so on. Finance companies in the US are required to be regulated; FINRA is one of the options.

Opinion: Publicly Reported Data Breaches: A Measure of Our Ignorance?

From: Lawfare

By Andrew J. GrottoChristos Makridis

There is a mounting gap between what the headlines say about the costs of cyber insecurity to the U.S. economy and the results of data-driven research on this topic—with negative implications for cybersecurity. Congress should move to narrow the gap by passing a federal law that takes two steps to protect data. First, it should require companies that possess sensitive personal information to publicly disclose when significant breaches of this information occur. Second, the law should also establish across-the-board requirements for companies that own and operate critical infrastructure, such as power plants and water utilities, to notify the authorities when sensitive operational systems are under credible threat from malicious cyber actors. A uniform, comprehensive framework would aid national security and enable executives, investors and policymakers alike to make data-driven investment and policy decisions.

U.S. regulators grappling with self-driving vehicle security

From: Reuters

David Shepardson

WASHINGTON (Reuters) – In closed-door meetings last March, U.S. transportation regulators and others grappled with questions about whether police should have the power to disable self-driving cars and whether an automatic alert that a robo-taxi had been in a wreck could violate an occupant’s privacy, a report released on Tuesday showed.

The 39-page-summary of the meetings involving U.S. Transportation Department officials and industry, labor, and advocacy groups illustrated the thicket of legal, safety and social issues that have to be worked out as companies such as Alphabet Inc’s Waymo unit and General Motors Co gear up to deploy self-driving cars for public use.