Data Control of the People, by the People, for the People…
Can the free market weigh in on data privacy and further data privacy rights in way that the law cannot? Can the free market put control over people’s data back in individuals’ hands? Many of us have been waiting for a market solution to address the privacy of personal data. As attorneys, we know from…
Read MorePutting the Brakes on Swift and Sweeping Adoption of Facial Recognition Technologies
When it is not clear which way to go, don’t. This is the upshot of an article by Wojciech Wiewiorowski: Facial recognition: A solution in search of a problem? Wiewiorowski is the Assistant Supervisor at the European Data Protection Supervisor (the E.U.’s independent data protection authority), which published his article on their site in late…
Read MoreSEC’s Lawsuit Against Telegram Raises Questions About Cryptocurrency “Presales” Under Regulation D
On October 11, 2019, the Securities and Exchange Commission (“SEC”) filed a lawsuit against Telegram Group, Inc. and TON Issuer, Inc. (“Telegram”), and simultaneously obtained a temporary restraining order preventing Telegram from issuing its “Gram” cryptocurrency, which had been scheduled for delivery on October 31, 2019. The SEC claimed that the sale of Grams amount…
Read MoreYou Got Loot? FTC Examines In-Game Purchases
The FTC held three panels on Wednesday, August 7, 2019, that centered on one topic: loot boxes earned or purchased during online game play. It’s clear from the selection of panelists and the questions posed by FTC staff that the FTC is on high alert about potential consumer protection issues surrounding these in-game purchases. If…
Read MoreSEC Says “Pocketful of Quarters’” Planned Token Is Not a “Pocketful of Securities”
On July 25, the Securities and Exchange Commission’s (SEC) Division of Corporation Finance issued a letter to Pocketful of Quarters, Inc. (PoQ), informing PoQ that it would not recommend enforcement action in regards to PoQ’s proposal to sell tokens (called Quarters) on its gaming platform. The SEC informed PoQ that based on PoQ’s description of…
Read MoreEquifax Settlement Teaches The Dos and Dont’s About Data Security
It’s been a busy summer for the FTC and the federal agency is dominating the headlines. There is the $5 billion settlement with Facebook for failing to better protect user privacy, which was announced earlier this month. Then there is the multimillion dollar settlement with Google for failing to adequately protect children’s privacy. That was…
Read MoreAbility to Revoke TCPA Consent Limited When Consent Was Provided Via Contract
Although the Telephone Consumer Protection Act (“TCPA”) limits the ways in which companies may contact individuals via automated dialers, with prerecorded messages, or via text message, one of its hallmarks is that companies are entitled to contact consumers who have provided their express consent to be called. However, in 2015, the Federal Communications Commission (“FCC”)…
Read MoreINITIAL EXCHANGE OFFERING: THE NEW PARADIGM FOR CRYTPO CAPITAL?
Crypto exchange Bittrex made news this week when it announced its first initial exchange offering (IEO), which it was to host through its Malta-based affiliate Bittrex International. Bittrex planned to offer its registered members the opportunity to buy RAID’s XRD token. RAID is an international gaming data blockchain project, with the goal to create a…
Read MoreDon’t Believe Me Just Watch: Choose Profits over Privacy and the FTC may Funk You Up
An app for children–wee ones even–to publicize videos of themselves jamming to their favorite tunes. An app that, by default, allows its users to communicate directly with any other users, including wee ones. An app that provides its users a list of other users within a 50-mile radius who they can follow or contact directly…
Read MoreUPDATE – NOT SO FAST INDEED: DISTRICT COURT BALKS AT SEC’S BLANKET CHARACTERIZATION OF TOKENS AS SECURITIES BUT THEN RECONSIDERS RULING
An issue of major importance to cryptocurrency and digital token markets has been whether tokens were all to be considered securities under U.S. law. The SEC’s frequent admonishments that it would consider ICOs to be securities offerings has caused a dramatic slowdown in the US ICO market. In one of the first cases to test…
Read More