EveryCRSReport.com – Libra: A Facebook-led Cryptocurrency Initiative October 21, 2019: “On June 18, 2019, Facebook announced that, with 28 other members, it had founded the Libra Association, which planned to launch a new cryptocurrency, called Libra. The association released a white paper that outlined the characteristics of Libra and described its goal of creating a cryptocurrency that would overcome some of the challenges faced by other cryptocurrencies and deliver the possible benefits of the technology on a large scale. President Trump and Treasury Secretary Mnuchin raised concerns about the Libra project, as did several Members of Congress during Senate Banking Committee and House Financial Services hearings, although some Members were more welcoming of efforts to advance financial innovation. The House Financial Services Committee majority has drafted legislation that would effectively block the Libra project. Internationally, the G-7 finance ministers and central bank governors agreed that Libra raises “serious regulatory and systemic concerns, as well as wider policy issues, which both need to be addressed before such projects can be implemented.” Subsequently and reportedly in part due to the level of official scrutiny of the project, several prominent members, such as eBay, Mastercard, PayPal, and Visa, withdrew from the Libra Association. This Insight briefly describes the potential benefits and concerns raised by Libra. For more information about cryptocurrencies and digital currencies, see CRS Report R45427, Cryptocurrency: The Economics of Money and Selected Policy Issues and CRS Testimony TE10034, Examining Regulatory Frameworks for Digital Currencies and Blockchain, by Rebecca M. Nelson….”
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Category Archives: Congress
BYU Law creates language database to help interpret Constitution
The Daily Universe: “The Constitution is America’s central legal document. However, it was written a long time ago, and language has since evolved. Changing language can make the law difficult for lawyers and judges to interpret. What does it really mean to “bear arms?” How should readers understand the phrase “high crimes and misdemeanors?” BYU… Continue Reading
Executive Privilege and Individuals outside the Executive Branch
EveryCRSReport.com – Executive Privilege and Individuals outside the Executive Branch October 9, 2019 IN11177 – “White House assertions of executive privilege for presidential communications have historically been confined to individuals who were executive branch employees when those communications occurred. While the idea that executive privilege could extend to individuals outside the executive branch predates the… Continue Reading
The Endangered Species Act and Climate Change: Selected Legal Issues
EveryCRSReport – The Endangered Species Act and Climate Change: Selected Legal Issues . September 20, 2019 R45926:”For more than a decade, federal agencies have grappled with how to address climate change effects when implementing the Endangered Species Act of 1973 (ESA). The ESA aims to protect threatened and endangered fish, wildlife, and plants from extinction.… Continue Reading
U.K.-U.S. CLOUD Act Agreement Is Finally Here, Containing New Safeguards
Lawfare: “On Oct. 7, the United Kingdom and the United States released the text of the long-awaited data-sharing agreement—the first of the executive agreements envisioned by the CLOUD Act, enacted in May 2018 in order to better facilitate cross-border access to data in the investigation of serious crime. At the time of enactment, there was… Continue Reading
Senate Intel Cmte Releases Bipartisan Report on Russia’s Use of Social Media
“Today, Senate Select Committee on Intelligence Chairman Richard Burr (R-NC) and Vice Chairman Mark Warner (D-VA) released a new report titled, “Russia’s Use of Social Media.” It is the second volume released in the Committee’s bipartisan investigation into Russia’s attempts to interfere with the 2016 U.S. election. The new report examines Russia’s efforts to use… Continue Reading
Legal Authority to Repurpose Funds for Border Barrier Construction
CRS report via FAS – Legal Authority to Repurpose Funds for Border Barrier Construction. Updated October 2, 2019: “President Trump has prioritized the construction of border barriers along the U.S.-Mexico border. Over the course of negotiations for FY2019 appropriations, the Administration asked Congress to appropriate $5.7 billion to the Department of Homeland Security (DHS) for… Continue Reading
Executive Branch Service and the “Revolving Door” in Cabinet Departments
CRS report Via FAS – Executive Branch Service and the “Revolving Door” in Cabinet Departments: Background and Issues for Congress. October 7, 2019. “Individuals may be subject to certain restrictions when leaving the government for private employment or joining the government from the private sector. These restrictions were enacted in response to what is often… Continue Reading
The Rich Really Do Pay Lower Taxes Than You
The New York Times – “Almost a decade ago, Warren Buffett made a claim that would become famous. He said that he paid a lower tax rate than his secretary, thanks to the many loopholes and deductions that benefit the wealthy. His claim sparked a debate about the fairness of the tax system. In the… Continue Reading
World’s First Deepfake Audit Counts Videos and Tools on the Open Web
IEEE Spectrum – A new report finds that deepfake software is still prohibitively hard to use, but that may not be true for much longer – “If you wanted to make a deepfake video right now, where would you start? Today, an Amsterdam-based startup has published an audit of all the online resources that exist… Continue Reading
Three Chairs Provide Update on Investigative Work, Volker Testimony & Text Messages
Rep. Adam Schiff – Representing California’s 28th Congressional District. Chairman of the House Intelligence Committee via @RepAdamSchiff – “After receiving a trove of important documents from the first of the state department witnesses, my fellow chairs and I highlight some of those deserving of the most attention and what is at stake. Read them here.”… Continue Reading
Trump’s impeachment process will keep U.S fact-checkers busy
Poynter: “For the fourth time in history, a United States president faces an impeachment. But this marks the first time an investigation like this will take place amid a tsunami of false news on social media. Fact-checkers have built creative strategies to surf this wave. On Sept. 24, Speaker of the House Nancy Pelosi announced… Continue Reading
