“The updated Consumer Safety Technology Act, which now includes the Digital Taxonomy Act and the Blockchain Innovation Act, has passed in the House of Representatives and is now headed for the Senate as of Tuesday afternoon.
The Digital Taxonomy Act provides definitions for the terms “digital asset” and “digital unit” and would task the Federal Trade Commission with preventing unfair trade practices in both. The Blockchain Innovation Act would require the FTC to put together a report on blockchain’s role in consumer protection.”
See Also: Congress weighs crypto payments and fintech lending in hearing today
See Also: SEC Won’t Take Action Against Compliance-Focused Digital Security Exchanges
See Also: California Governor Signs Law Bringing State ‘New Tools’ to Regulate Crypto
“Ethereum 2.0 developers have launched yet another testnet, this time to give on-boarding stakers a dry run before the launch of Eth 2.0 sometime this autumn.
The main objective is to give us all another chance to go through one of the more difficult and risky parts of the process – deposits and genesis – before we reach mainnet. If all goes well, it should give us greater peace of mind before we jump into the real deal later this year.”
See Also: Launch rehearsal for Ethereum 2.0 ‘90% successful’ despite participation issues
See Also: Eth 2.0 Spadina Testnet Launch (Video)
“Gemini added “shielded” zcash withdrawals – meaning users can take assets off the platform without disclosing their identities or the size of their transactions.
The addition comes after Gemini received approval from the New York Department of Financial Services. The exchange claims it’s the first time shielded zcash transactions have ever been supported on a regulated exchange.
[W]ith the right controls in place and the proper education, regulators can get comfortable with privacy-enabling cryptos.”
“The decentralized finance (DeFi) community’s insatiable appetite for unaudited code has once again ended in tears and the loss of millions.
Eminence, an unfinished “economy for a gaming multiverse” being built by Yearn Finance’s Andre ‘I test in production’ Cronje, was discovered by DeFi sleuths after the developer posted art teasers for the project to Twitter.
Excitement for the upcoming project quickly reached a fever pitch, with the community FOMOing roughly $15 million into the EMN protocol. However, the protocol was quickly exploited and drained … before the hacker bizarrely opted to transfer $8 million of the funds back to Cronje’s yearn deployer account.
Noting that he has received “a fair amount of threats” Cronje announced that the Yearn treasury will assist in refunding users back the $8 million he received from the hacker.”
“MESE.io is housed on the Algorand blockchain, and powered by ChainUp’s digital cloud exchange tech. To hold one crypto-based microequity token is to hold a cryptocurrency that represents 1/10,000th share in a real stock.
Available at launch are seven global tech stocks: Microsoft, Apple, Tesla, Twitter, Amazon, Netflix, and Google.
The advantage of crypto is that holders can sell these microequity tokens on secondary markets, including those outside the MESE.io platform.”
“Permission.io is a platform that pays users in ASK tokens for engaging with, or even looking at, ads. Built on a fork of the Ethereum blockchain, the Permission platform incentivizes users to grant advertisers and other merchant participants access to their time and data.
Brave is purely a browser that collects no data, contending the ads people are served are random. Permission, on the other hand, allows people to be served ads through their “behavioral data.” Behavioral data means ads are served based on activities such as brand interactions and content consumption.
By the end of the year, users will have access to a feature called ‘MyData,’ which will allow them to input specific data points around preferences that will create even more precise ad targeting.
All data generated through Permission, regardless of source, is anonymized on the advertiser end. While Permission will know which data is tied to a person (for the purpose of awarding ASK Coins) advertisers won’t be able to link it to an individual.”
“Brian Armstrong, CEO of Coinbase, took a strong stance against employee-driven corporate activism over the weekend, explaining that, going forward, his company would be “mission focused.”
It’s clear that Armstrong’s post comes in response to some kind of employee movement at Coinbase. He explains how he recently realized some employees believed Coinbase’s world-changing mission means the firm should actively push forward other ways to improve the world.
Now that he’s taken this stance, though, he has very politely told those people to be activists on their own time or find another job.
Armstrong’s position isn’t a message to Silicon Valley heavyweights to turn back the clock on employee “wokeness” – it’s an open letter to every other corporate leader, urging them to connect the dots between the political positions they might be taking and the central mission of their companies. And if the result is a picture they don’t like, rethink.”