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Daily Archives: January 23, 2023

NY – Consumer Protection Guidance In the Event of Virtual Currency Insolvency

“Today New York Department of Financial Services (“DFS”) Superintendent Adrienne A. Harris released Regulatory Guidance to better protect customers in the event of an insolvency or similar proceeding. The Regulatory Guidance reiterates expectations for sound custody and disclosure practices and the paramount importance of the equitable and beneficial interest in the asset always remaining with the customer. “DFS’s virtual currency regulation has protected New Yorkers since 2015,” said Superintendent Harris. “Today’s guidance reminds DFS-regulated virtual currency companies of our expectations regarding the safekeeping of customer assets.”  The guidance applies to those entities the Department has licensed or chartered to custody, or temporarily hold, store, or maintain virtual currency assets on behalf of their customers. As stewards of others’ assets, virtual currency entities that act as custodians, including without limitation, storing, holding, or maintaining custody or control of virtual currency on behalf of others, must have robust processes in place, akin to traditional financial service providers.

New York’s virtual currency regulation requires entities to, among other things, hold virtual currency in a manner that protects customer assets; maintain comprehensive books and records; properly disclose the material terms and conditions associated with their products and services, including custody services; and refrain from making any false, misleading or deceptive representations or omissions in their marketing materials. Entities operating under the BitLicense and Limited Purpose Trust Charter are held to these requirements through DFS supervision and examinations, or when need be, enforcement actions.

How to Delete Your House’s Pictures From Sites Like Zillow, Redfin, and Realtor

Lifehacker: “Our personal data shows up in so many public online spaces. But while there are ways to review and delete your data from social media profiles or even Google search, one place you may not think to check is your property’s listing on sites like Redfin, Zillow, or Realtor.com. While it’s unlikely someone will… Continue Reading

GPO Digitizes Historic Congressional Directories From the 1800s

“The U.S. Government Publishing Office (GPO) is digitizing historic volumes of the Congressional Directory from the 19th and 20th centuries. The first release includes Directories from 1869–1888, as well as 1993. Additional digitized historic Congressional Directories will be released on GovInfo as they are completed. Historically, the Congressional Directory has been one of the most… Continue Reading

Discover the world’s protected areas

“Protected Planet is the authoritative source of data on protected areas and other effective area-based conservation measures (OECMs). It exists due to the extensive efforts of governments and other stakeholders to map, monitor and report data on protected areas and OECMs. Through the Protected Planet website, users can explore the World Database on Protected Areas… Continue Reading

Amazon launches RxPass

TechCrunch: “Amazon launches RxPass, a $5/month Prime add-on for all-you-need generic drugs covering 80 conditions…Prime users in the U.S. can pay a monthly flat fee of $5 to get as many generic versions of medications as they need. Amazon said that initially the service will cover generic drugs for 80 common ailments — they include,… Continue Reading

Why Lawyers Should Write for the Digital Reader

Rosenberg, Joseph A., Why Lawyers Should Write for the Digital Reader (January 6, 2023). Vol. 27 Legal Writing: The Journal of the Legal Writing Institute, Forthcoming , Available at SSRN: https://ssrn.com/abstract=4320279 – “The legal profession has been shifting from paper to digital, a trend accelerated by the COVID-19 pandemic. Lawyers no longer have a choice about… Continue Reading

Who Benefits from Income and Wealth Growth in the United States?

Who Benefits from Income and Wealth Growth in the United States? Thomas Blanchet, Emmanuel Saez, Gabriel Zucman, Department of Economics | University of California, Berkeley “Realtime Inequality provides the first timely statistics on how economic growth is distributed across groups. When new growth numbers come out each quarter, we show how each income and wealth group benefits.… Continue Reading

How artificial intelligence can support knowledge management in organizations

Real KM: “The potential for artificial intelligence (AI) to play a role in supporting knowledge management (KM) activities is attracting considerable interest, with AI identified as one of eight emerging innovative concepts in KM. A newly published paper in the Business Horizons academic journal aims to uncover opportunities for the use of AI in KM.… Continue Reading