Economist say regulation will kill bitcoin because:
- bitcoin has no intrinsic value and price volatility
- the government will regulatue anonymous transactions
- bitcoin inherently “contradicts the idea of creating “a transparent banking system.”
Category Archives: regulatory trend
Regulatory TREND. Higher State Regulations for Credit Reporting Agencies. 8 states.
- NY rules will require credit reporting agencies to comply with the state’s Department of Financial Services cybersecurity standards
- An agreement between Equifax & 8 State Financial regulators will allow the states to:
- impose punitive damages against Equifax
- conduct annual security audits
- develop written data protection policies and guides
- monitor outside technology vendors
- improve software patch management controls
- The states:
- Alabama
- California
- Georgia
- Maine
- Massachusett…
3 Ways Crypto Currency can Increase Capacity for Renewables
- “By running off electricity that would otherwise be curtailed because of low demand, crypto-mining could allow more clean energy to be profitably built on the grid”
- Texas has been a leader in dealing with intermitancy that can power crytocurrency
- Texas “competitive renewable electricity zones”
- average wind curtailment in Texas decreased from over 16% to less than 2%
- wind generation more than doubled
- private investment in energy storage
- Texas “competitive renewable electricity zones”
- flexible demand option for crypto currency…
Lege Trend. Create a nonprofit + Partner with a Univeristy Law School = Legislative & Regulatory Recommendations
State: Vermont
Grid Security Partners:
- Protect Our Power, an independent, nonprofit organization
- The Institute for Energy and the Environment at Vermont Law School
Goal of Partnership: to make the grid more resistant to physical or cyber threats & to improve its ability to restore power quickly in the event of an attack
Outcome: offer regulatory and legislative proposals
Valley News | Vermont Law School Team to Research Electrical Grid Security
4th Largest Data Breach Fine Lands in Texas Healthcare Community
The data breaches: Data Breaches in 2012 and 2013 at M.D. Anderson in Houston
The regulatory agency issuing the fine: U.S. Department of Health and Human Services via the Office of Civil Rights
The Fine: $4.3 million
Houston Chronicle | MD Anderson to pay $4.3 million penalty for data breach
“MD Anderson hit with $4.3M privacy fine.” POLITICO
Campaign TREND. +1 State Moving to Regulate Bitcoin Campaign Contributions
State: California
California Regulatory Agency: California Fair Political Practices Commission
Recommendation from the California Agency Legal Counsel:
- cryptocurrency contributions do not violate the state’s Political Reform Act
- BUT, “could be significant difficulties in establishing the true source of bitcoin donors”
study: Bitcoin Prices Manipulated in 1 Way
The Study is by: John Griffin, a finance professor at the University of Texas
What did the study examine: mapping the blockchains of Bitcoin and Tether to track purchases
What did those purchases show? entities associated with the Bitfinex exchange timed purchases so as to rise the price of bitcoin
Campaign TREND. Blockchain Voting App Test in West Virginia. 3 Key Points to be Informed.
State: West Virginia
The blockchain voting pilot program: secure military mobile voting in two counties
How does the blockcahin voting app work?
- biometrics to verify voter identity
- records the vote from the mobile device onto a “chain”
- the vote is then verified by 3rd party
State Tech | West Virginia Pilots First Blockchain-Powered Federal Voting App
Utility tokens. Bit Coin + Energy. 3 Bits informed intel:
- Utility tokens are a hot commodity among bitcoin currencies
- Why are utility tokens popular?
- some think they offer legal protection from regulatory schemes
- others think utility tokens are key to block chain’s future
- Utlity tokens will most likely be regulated by the SEC and State Securities Boards
Texas Lawyer | Ready Player One? Avoid Getting Played on Utility Tokens
Procurement Policy Changes: Cybersecurity Services. What you need to know:
General Services Administration issued a Request for information to provide a more comprehensive assortment of cybersecurity services and expedite their discovery and acquisition.
To participate in the request for information, the deadline is 6/9/2018.
What does this mean for procurement? GSA wants to increase:
- the number of agencies that procure cybersecurity services
- the number of contractors and specialties of cybersecurity contractors