Biden Administration’s Economic Report Deems Crypto Assets ‘Mostly Speculative Investment Vehicles’
On Monday, U.S. president Joe Biden published the administration’s economic report and addressed the subject of cryptocurrencies. The section titled “The Perceived Appeal of Crypto Assets” describes the currencies as “mostly speculative investment vehicles” that are “unbacked” and “traded without fundamental anchors.” The White House insists that crypto assets do not deliver on their promises and do not “perform all the functions of...
Japan’s Largest IT Service Provider Fujitsu Files Trademark Covering Crypto Trading Services
Japanese tech giant Fujitsu has filed a trademark application with the U.S. Patent and Trademark Office that covers several cryptocurrency services. The application specifically mentions “financial management of crypto assets,” “financial exchange of crypto assets,” and “financial broker services for cryptocurrency trading.” Fujitsu’s Crypto Trademark Application Fujitsu, one of the world’s largest IT service providers, filed a...
Yellen Says US Could Back All Deposits at Smaller Banks if Needed to Prevent Contagion
U.S. Treasury Secretary Janet Yellen says the federal government could guarantee all deposits of smaller banks if they “suffer deposit runs that pose the risk of contagion.” The government recently protected all deposits of Silicon Valley Bank and Signature Bank after they failed. U.S. Government Ready to Guarantee More Deposits if Needed U.S. Treasury Secretary Janet Yellen said in a speech to the American Bankers Association Tuesday...
RIAA Hunts Pre-Release Music Pirates Behind UnreleasedSounds.gg
Human beings have a tendency to want things they can’t have. A modest interest in a particular item or activity can inexplicably soar when it’s recognized as rare or unavailable. When strictly forbidden, even regular fruit can prove irresistible. Spotify offers 100 million tracks to hear right now, including the vast majority of the greatest pieces of music ever written. Yet for some, the lure of an unreleased track can outweigh every...
Internet Archive’s Copyright Battle with Book Publishers Nears Climax
In 2020, publishers Hachette, HarperCollins, John Wiley and Penguin Random House sued the Internet Archive (IA) for copyright infringement, equating its ‘Open Library’ to a pirate site. IA’s library is a non-profit organization that scans physical books, which can then be lent out to patrons in an ebook format. Staying true to the centuries-old library concept, only one patron at a time can get a copy. These restrictions were...
