The Risks of Cryptocurrency and How the Government Will Protect Consumers
Bitcoin and a host of cryptocurrencies have taken both Wall Street and Main Street by storm in 2017. The nearly continuous gains in the price of Bitcoin have spawned numerous imitators and led a number of companies to raise critical start-up funds by selling their own token/cryptocurrency in a process similar to an initial public…
Read MoreCFTC Regulated Markets May Give Bitcoin the Stability It Needs
The unregulated nature of virtual currencies like Bitcoin plays a big role in their appeal. However, wild swings in prices in addition to the perception that these markets are subject to manipulation, make it difficult—if not impossible—for the average person to rely heavily on Bitcoin and other virtual currencies as a currency, much less as…
Read MoreSEC and FTC Warn Celebrities Must Disclose Financial Connection For ICO Endorsements
Cryptocurrency is the latest trend to be embraced by celebrities, so much so that the federal government this month issued a warning about the possible risks involved. Both the U.S. Securities and Exchange Commission (SEC) and the Federal Trade Commission (FTC) have made clear that if a celebrity is being paid to promote a product…
Read MoreDeadline Fast Approaches for Final DMCA Registration
The Digital Millennium Copyright Act (DMCA) provides a safe harbor from copyright infringement liability for online service providers. While not a particularly famous law, it is a critical law because it enables websites to accommodate user-generated content without being concerned for copyright infringement claims by hosting that content. However, in order to preserve their safe…
Read MoreCongress Saves Consumer Arbitration
In July 2017, the Bureau of Consumer Financial Protection (“CPFB”) announced a new rule broadly barring arbitration provisions in a wide swath of consumer contracts. See 12 CFR part 1040. To go into effect next Spring, the final rule would have prohibited providers of certain consumer financial products and services from using an agreement with…
Read MoreGDPR D-Day: If Not Prepared, It Could Cost You Europe
GDPR D-Day: May 25, 2018. If you are not prepared, the results could cost you Europe. In the U.S., we’ve had a pretty business-friendly approach to consumer data protection. And while federal and state authorities have their respective consumer protection laws, there is no single federal law that clearly defines U.S. policy on how consumer…
Read MoreA Giant Demanding Piece of … Restrictiveness: Do you need to pay attention to the coming GDPR?
GDPR. If you see those letters and think it is an acronym for Gosh Darned Pain in the Rear (or an edgier equivalent) you are in large-part correct. But if you don’t know any more than that, and you are a company with any ties to Europe, then you need to read further. GDPR, the…
Read MoreICOs: Proceed with Caution
Today, the Securities and Exchange Commission (“SEC”) issued an investor bulletin and an investigative report. The investigative report found that companies involved in sales of digital assets via distributed ledger or blockchain technology may be engaged in conduct subject to federal securities laws. While this report is the first of its kind to address initial…
Read MoreThe FTC’s Role in Privacy
Acting Chairman of the Federal Trade Commission, Maureen Ohlhausen, answered questions about the FTC’s current role in data privacy before a crowded audience at the April 2017 IAPP Global Privacy Summit in D.C. Below are some take-aways we wanted to share from Commissioner Ohlhausen’s talk: Even if out of ISP oversight, the FTC is actively…
Read MoreD.C. Circuit v. FCC – More Pushback to Come?
Over the past several years, the Federal Communications Commission (“FCC”) took an expansive view of its rules under the Telephone Consumer Protection Act of 1991 (“TCPA”). The TCPA bars certain calls, texts and faxes without prior express consent and requires disclosures and opt-out procedures. While the FCC and state attorney generals may enforce the TCPA,…
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