2 September

“Arbitrum One has now been fully migrated to the Nitro stack – increased throughput (7x-10x higher), lower fees, next generation rollup architecture is happening, and it’s all live now on Arbitrum One mainnet!”

See Also: What is “data availability” and why is it the top priority for Ethereum’s development team?

The U.S., by all measures, has lagged behind on consumer privacy regulations. This gap has created an environment where Big Tech is able to surveil and monetize your personal and sensitive data for profit. The adtech industry is a behemoth, and it has made the internet a worse place.

The American Data Privacy and Protection Act (ADPPA), a proposed privacy-enhancing bill snaking its way through the U.S. legislative system now, would set strong limits around the type of data that companies can collect about you online. It would be, if passed, the most significant internet law introduced in decades and strongly bolster civil rights.

There are a number of minor issues that we still believe can be tweaked in the bill, but at core it would create strong privacy protections for all Americans and block some of the most harmful data collection practices with its strict data minimization requirements (especially for sensitive data categories).

ADPPA would prohibit the use of sensitive data (like precise geolocation, biometric and health information) for targeted advertising. It would also prevent companies like Google, Facebook and Coinbase (COIN) from tracking your web behavior over time and across third-party sites. It sets strong restrictions on data collection and the “transferring” of it to third parties without your consent. Companies would only be permitted to collect and use data for 17 essential reasons, like authentication and fraud management.

That’s in contrast with other privacy-focused regulations, like the European Union’s GDPR, that are “based on consent,” as Wired magazine put it. That leads to ‘an endless stream of annoying privacy pop-ups that most people click ‘yes’ on because it’s easier than going to the trouble of turning off cookies.’

Crypto’s approach to privacy has primarily focused on creating tools or methods to shield your transactional history. This code-first approach can be symbiotic with legislative efforts.”

“California Gov. Gavin Newsom is set to sign a recently passed bill that would require digital asset exchanges and other crypto companies to obtain a license to operate in the state. The Digital Financial Assets Law, dubbed California’s “BitLicense,” takes after New York’s BitLicense regulation, which came into effect in 2015. California’s law, if signed by Newsom, a Democrat, would go into effect in January 2025.

Among the requirements is a prohibition, which would be phased out in 2028, on California-licensed entities dealing with stablecoins, unless that stablecoin is issued by a bank or is licensed by the California Department of Financial Protection and Innovation.

The Blockchain Association, an industry trade group, tweeted that the bill would ‘create shortsighted and unhelpful restrictions that would impede crypto innovators’ ability to operate and push many out of the state.’

See Also: Digital Dollar Project Plans to Explore CBDC Technical Solutions With New Sandbox
See Also: New Global CBDC Platform Could Cut Payment Costs, IMF Says

“The software will support activities such as data capture, document management, study monitoring and consent. As told by Triall, the purpose of the collaboration is to demonstrate an immutable public ledger audit trail through its blockchain technology to boost the integrity of clinical trials. Investigators, regulators and stakeholders can then review and assess such trial-related data with trust, knowing that no one can modify the records.

In addition, the firm is developing APIs through eClinical that enable existing third-party clinical trial software providers to connect to Triall’s blockchain infrastructure. The native TRL token is designed for ecosystem utility, such as paying compensation to clinical trial participants. If successful, Triall plans to further collaborate with the Mayo Clinic in the realm of decentralized medical research.”

“Celsius has about 58,300 users who collectively deposited over $210 million with its custody and withhold, with 15,680 customers holding “Pure Custody Assets” worth around $44 million. Celsius said these funds are not part of the bankruptcy estate, unlike funds from Earn and Borrow clients.

Celsius’ filing comes a day after an organized group of 64 customers claiming around $25 million in custody holdings also petitioned the court for their funds back.

The argument is that unlike Celsius customers using its Earn or Borrow products, customers with custodial accounts still maintain ownership of their crypto assets. Celsius is merely acting as the storage provider. Therefore, these funds belong to the customers, not to Celsius’ estate.”