{"id":136892,"date":"2020-12-18T22:22:43","date_gmt":"2020-12-18T19:22:43","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/law-decoded-crypto-on-the-rise-big-tech-on-notice-dec-11-18\/"},"modified":"2020-12-18T22:22:43","modified_gmt":"2020-12-18T19:22:43","slug":"law-decoded-crypto-on-the-rise-big-tech-on-notice-dec-11-18","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/law-decoded-crypto-on-the-rise-big-tech-on-notice-dec-11-18\/","title":{"rendered":"# Law Decoded: Crypto on the rise, Big Tech on notice, Dec. 11\u201318"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3bf1643bedc\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3bf1643bedc\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/law-decoded-crypto-on-the-rise-big-tech-on-notice-dec-11-18\/#Editors_note\" >Editor\u2019s note<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/law-decoded-crypto-on-the-rise-big-tech-on-notice-dec-11-18\/#Coinbase_leads_the_charge_to_go_public\" >Coinbase leads the charge to go public<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/law-decoded-crypto-on-the-rise-big-tech-on-notice-dec-11-18\/#Not_quite_the_Sheriff_of_Nottingham_Robinhood_in_trouble_with_securities_regulators\" >Not quite the Sheriff of Nottingham: Robinhood in trouble with securities regulators<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/law-decoded-crypto-on-the-rise-big-tech-on-notice-dec-11-18\/#Federal_Trade_Commission_wants_answers_from_social_media_heavy_hitters\" >Federal Trade Commission wants answers from social media heavy hitters<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/law-decoded-crypto-on-the-rise-big-tech-on-notice-dec-11-18\/#Further_reads\" >Further reads<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Law Decoded: Crypto on the rise, Big Tech on notice, Dec. 11\u201318 <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjAtMTIvNWQ4MmUxNmMtMWVhOS00NmFhLTk2YmYtMTRjMjhkM2RlZDZjLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a><em>Every Friday, Law Decoded delivers analysis on the week\u2019s critical stories in the realms of policy, regulation and law. Law Decoded will be going on a break next week for the holidays but will return in the new year.\u00a0<\/em><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Editors_note\"><\/span>Editor\u2019s note<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>As the holidays loom, Bitcoin has been shattering all-time highs. For reasons why, consult Cointelegraph\u2019s markets coverage. I honestly never know. Maybe with the act of Christmas shopping taking place behind the computer, people have turned to Coinbase instead of Amazon. Or maybe the threat of the Treasury demanding reports from exchanges interacting with self-hosted wallets has people trying to move as much fiat into crypto and then off of exchanges as possible.<\/p>\n<p>In broader legal <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>, we may well be entering a new era of trust-busting in tech. Major names like Amazon, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Facebook<\/a>, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">App<\/a>le and Google have been on thin ice for a long time, but new laws on competition in the EU and new antitrust suits and investigations in the U.S. this past week are the culmination of long-term concerns from lawmakers and regulators. <\/p>\n<p>The relationship between government attitude towards those colossal tech firms and crypto is, as always, an open question. It has always struck me that, particularly on issues of consumer data use and monopolistic practices, the great majority of the crypto industry benefits from lawmakers scrutinizing the huge platforms. Open-source software distributed across nodes avoids such problems using tools that are technological rather than legal.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Coinbase_leads_the_charge_to_go_public\"><\/span>Coinbase leads the charge to go public<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Yesterday, leading crypto exchange Coinbase announced that it was working with the Securities and Exchange Commission to move forward with taking the firm public.<\/p>\n<p>The firm said that it had submitted a draft of the S-1 form required to begin public trading. That form, however, remains confidential, so details are correspondingly limited, and the firm has maintained a notoriously tight ship as far as any informational leaks reaching the public \u2014 especially about going public.<\/p>\n<p>One of the biggest names in crypto, Coinbase has long been a major candidate for the first <em>real<\/em> crypto IPO. In a strange fluke, the Chinese mining firm Canaan Creative managed to go public on the Nasdaq last year, but has not done the industry particularly proud. Coinbase, on the other hand, is in many ways a typical San Francisco tech unicorn, with a longstanding reputation for complying more stringently to U.S. regulations than many figures in crypto would like. <\/p>\n<p>At the same time, the draft registration is currently in the hands of the SEC. Even in the best of times, the commission has been known to stall on crypto decisions. A recent boom in IPOs may have drawn Coinbase into publicizing its work on an S-1, but with the holidays approaching and a number of scheduled change-ups in the SEC\u2019s leadership, a Coinbase IPO is unlikely to sneak up on us.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Not_quite_the_Sheriff_of_Nottingham_Robinhood_in_trouble_with_securities_regulators\"><\/span>Not quite the Sheriff of Nottingham: Robinhood in trouble with securities regulators<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Straddling the line between traditional equities broker and scrappy fintech, Robinhood may have found itself in a legal jam. <\/p>\n<p>This week, Robinhood paid out $65 million to the SEC to settle charges that the firm had misled customers as to how good of a deal they were getting with the \u201ccommission-free\u201d platform. As with many SEC actions, those charges relate to old offenses, dating to between 2015 and 2018. The SEC\u2019s enforcement apparatus takes a while to get in motion. <\/p>\n<p>More ominous for Robinhood may be a pending case from Massachusetts securities regulators, which apparently takes issue with how trading is \u201cpresented as some sort of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a> that you might be able to win.\u201d<\/p>\n<p>Robinhood\u2019s appeal has always been in how it makes investing simple and approachable. It markets itself especially to young people, many of whom may have zero experience with investments, but who appreciate the platforms gamification of investments, including equities and cryptocurrencies. A legal objection to making investment friendly seems like a fairly existential threat to Robinhood\u2019s business model. But, then again, nothing has happened yet with that case.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Federal_Trade_Commission_wants_answers_from_social_media_heavy_hitters\"><\/span>Federal Trade Commission wants answers from social media heavy hitters<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The FTC recently sent out a round of orders to nine of the largest social media platforms, demanding answers for what they are doing with user data.<\/p>\n<p>Though the FTC says that the orders are not part of any active case, and the commission has the authority to request information from firms, the action is part of a rising tide of suspicion toward major platforms. <\/p>\n<p>As mentioned above, and as Cointelegraph has reported previously, the mystery behind social media monetization is maybe its most damning feature. During disputes over data moderation practices \u2014 which reached a fever pitch around the time of the 2020 presidential elections \u2014 revealed a pretty gaping hole in the conversation. Namely, nobody knows how these platforms are making decisions that affect what billions of users see. CEOs can shunt blame off onto algorithms that they can keep confidential under industry protections.<\/p>\n<p>Though the FTC will not be publicizing the results of these orders, there is little doubt that we are witnessing a sea change as to what giant social media can get away with. <\/p>\n<h3><span class=\"ez-toc-section\" id=\"Further_reads\"><\/span>Further reads<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>AEI\u2019s Bronwyn Howell <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.aei.org\/technology-and-innovation\/has-the-time-come-for-retail-central-bank-digital-currencies\/\">considers CBDCs<\/a> and their place in the future of money. <\/p>\n<p>Attorneys for BakerHostetler <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.jdsupra.com\/legalnews\/telegram-deconstructing-one-of-the-96977\/\">break down<\/a> the Telegram ICO case. <\/p>\n<p>Writing for Brookings, Tarah Wheeler <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.brookings.edu\/techstream\/podcast-how-did-the-u-s-government-get-hacked\/#more-1303651\">explains the recent hack<\/a> on a number of U.S. agencies.<\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/law-decoded-crypto-on-the-rise-big-tech-on-notice-dec-11-18\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Law Decoded: Crypto on the rise, Big Tech on notice, Dec. 11\u201318 &#8221; Every Friday, Law Decoded delivers analysis on the week\u2019s critical stories in the realms of policy, regulation and law. Law Decoded will be going on a break next week for the holidays but will return in the new year.\u00a0 Editor\u2019s note&#8230;<\/p>\n","protected":false},"author":1,"featured_media":136893,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/5d82e16c-1ea9-46aa-96bf-14c28d3ded6c.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74858,74956,75036,86706,71511,5007,55229,70934],"class_list":["post-136892","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-regulation","tag-coinbase","tag-ico","tag-robinhood","tag-government","tag-ipo","tag-law","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/136892","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=136892"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/136892\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/136893"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=136892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=136892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=136892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}