Tag:

Regulation

Regulating the Unregulated: Where is Cryptocurrency Headed?

While over 10 years have passed since Satoshi Nakamoto first introduced Bitcoin, digital currencies continue to remain unregulated by financial authorities despite a number of challenges that have plagued consumers and the government: the Silk Road, fraud, and various other financial crimes. Additionally, many consumers invest in cryptocurrencies because they are not controlled by any central government monetary policies. However, cryptocurrency investors are also at risk of their money losing its value when the market takes a tumble, as evidenced by the recent current cryptocurrency downturn. Despite these continued challenges, imposing regulations on cryptocurrencies has proven to be difficult. Until President Biden’s Executive Order, issued on March 9th of this year, the White House steered clear of recognizing digital assets as a valid form of currency. The President’s Order explicitly recognized the need for research and policy implementation across various government agencies in order to shape the way cryptocurrencies are regulated.

Are Tighter Gun Regulations the Answer to Combating Gun Violence? 

  Taelor Thornton  Associate Editor  Loyola University Chicago School of Law, JD 2024  On May 14, 2022, a gunman opened fire with a legally obtained AR-15-style rifle at a supermarket in Buffalo, New York, killing 10 people. Ten days later, an 18-year-old gunman killed 19 children and two teachers at Robb Elementary School in Uvalde, …
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Largest Alleged Violation in FEC History – Investigation Blocked, Case Closed

In June, the Federal Elections Commission (FEC) announced that they would not investigate allegations that two of former President Trump’s campaign committees illegally misreported hundreds of millions of dollars in spending. If true, these allegations would constitute the “largest alleged violation in FEC history” according to FEC Commissioner Ellen L. Weintraub. The initial complaint alleged that the committees failed to disclose payments to friends and family members of the former President, such as  Lara Trump, who is Trump’s daughter-in-law, and Kimberly Guilfoyle – Donald Trump Jr.’s fiancé. In it’s decision, the FEC’s Republican Commissioners voted not to investigate the matter, which is therefore no longer being pursued. This situation illustrates how the FEC has consistently failed to investigate the Trump reelection campaign for alleged violations of campaign finance law. 

Loot Boxes: Benign Entertainment or Gambling for Minors?

In 2019, Senator Josh Hawley put forth legislation to regulate loot boxes advertised or sold to minors in video games. The legislation was referred to the Committee on Commerce, Science, and Transportation but did not move any further. The Federal Trade Commission (FTC) has been researching the use of loot boxes since 2018 and has done multiple workshops to promote public awareness of microtransactions. More recently there has been public sentiment for changes in the gaming industry and other countries such as Singapore have taken steps this year to protect consumers from predatory practices of game companies.

Could Anna Delvey Have Gotten Away with It? Bank Vetting for a $22 million Loan

Anna Delvey, the alleged scammer who attempted to obtain financial backing of anywhere from $22 million to $40 million in loans, is once again the subject of much debate due to the new Netflix series chronicling her alleged crimes and other actions. The question this article attempts to answer is whether she ever had a chance of realizing her goal of creating an exclusive, members-only, art club much like Soho House. This question hinges on whether she ever had a real chance to secure the funding to make it possible.

The ATF Has Become Too Weak to Do its Job

On January 19, 2022, a searchable database of inspection reports from the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) became publicly accessible. The ATF carries out firearms compliance inspections to ensure that federal firearms licensees (FFLs) are complying with federal gun control regulations, as well as local laws. Brady, the organization responsible for compiling the inspection database, reports that even when FFLs have violated regulations, the ATF only rarely revokes their licenses.

Insider Trading Isn’t Illegal if You Are a Member of Congress

Jon Ossoff, the freshman Senator from Georgia, has made it clear that he intends to put forth a bill that would ban members of Congress from trading individual stocks. This is a policy that seems likely to fail, but that doesn’t make it any less necessary. It is estimated that members of Congress and their families bought and sold over $500 million worth of assets. That’s not to say that all these trades were based on information not available to the general public, but it is clear that there is a massive conflict of interest in allowing law makers to trade stocks when their job is intrinsically tied to making decisions that affect the price of stocks.

Failure To Regulate NFTs and Crypto Currencies Will Lead to Catastrophic Environmental Implications

Non-fungible tokens (NFTs) are emerging digital assets with numerous rights and obligations. However, regulations and laws in the United States are only barely beginning to catch up, and NFTs consume nearly as much energy as a small country. Without NFT regulation, climate change catastrophes are likely to be evident sooner than expected. 

Concert Venues Crowd Control Regulations

On November 5, 2021, Travis Scott performed a concert at the Astroworld Festival in Austin to a crowd of fifty thousand people. In the hour that he performed, eight people were killed in a deadly crowd crush (another concert goer losing their life days after), and hundreds were injured. Multiple lawsuits have been filed against Travis Scott himself, as well as the production companies that organized the show in response to the tragedy. In the wake of the devastating event, regulations concerning crowd control and management must also be considered, as well as whether these regulations were complied with by the organizers of Astroworld.

A Progressive Move for New York’s Office of Cannabis Management

Earlier this month Tremaine Wright, the woman in charge of New York’s cannabis regulation revealed a plan to promote social equity through conscientious licensing and tax revenue policies. New York legalized cannabis recently, so its regulations for it are still in a fledgling stage. As a result, the policies being made now will shape the cannabis industry for years to come.