Tag:new york
Regulatory Scrutiny of Crypto Exchange “Binance” May Cause it to Leave the U.S.
State and federal regulators are opposing a billion-dollar deal between the cryptocurrency exchange Binance.US and the bankrupt cryptocurrency lender Voyager. The regulatory intervention is part of an ongoing struggle between Binance, the ultra-dominant cryptocurrency exchange, and U.S. regulators. Tensions between the two appear to be nearing a boiling point. The dispute also highlights an American regulatory environment that is increasingly hostile toward the cryptocurrency industry writ large, particularly in the wake of the FTX cryptocurrency exchange collapse.
Sustainability en vogue — More Than Just a Fleeting Fashion Trend
“Sustainable,” “eco-friendly,” “ethical,” “recycled” — all buzzwords you might see the next time you’re shopping for a new outfit, designed to make you as a consumer feel like you’re making better choices to help reduce your carbon footprint. But what do those buzzwords really mean — is there any traceable impact the company has made to reduce its carbon footprint? In many cases, unfortunately not. The fashion industry has a major impact on climate change. It is estimated to contribute between 4 and 8.6 percent of the world’s greenhouse gases, and for the most part is largely unregulated. Any efforts to increase sustainability, such as by reducing pollution or eliminating labor abuses, are predominately voluntary commitments with little to no repercussions for failing to uphold those commitments.
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.
The Empire State’s New Data Privacy Law
Data privacy and more specifically, user privacy, has become the focus for many in the past year. Some may say that the European Union began this “trend” with the implementation of the General Data Protection Regulation (GDPR) with California soon following in their footsteps with the California Consumer Privacy Act (CCPA). However, seemingly more silently in New York, The Stop Hacks and Improve Electronic Data Security, or SHIELD Act has also been created in the interest of the protection of personal information. The SHIELD Act was enacted on July 25, 2019 as an amendment to the General Business Law and the State Technology Law to include breach notification requirements and stronger rules in place to enforce against businesses handling personal information. The SHIELD Act recently went into effect on March 21, 2020.
“On Demand” Abortions: Protection for Women’s Rights or Expansion of Late-Term Abortions?
With the recent change of New York’s abortion law, legislators granted women the affirmative right to abortions under the state’s public-health law. Under the Reproductive Health Act, restrictions on abortion past twenty-four weeks are removed legalizing abortion up until the day of birth. This bill was passed on the 46th anniversary of the Roe v. Wade decision. The new bill comes as a reaction to the confirmation of conservative Supreme Court Justice Brett Kavanaugh, giving protection to women’s access to abortion if Roe v. Wade is overturned. Proving to be very controversial, the change has advocates and critics at odds with its potential future effects.
New York Law Could Shake Up Compliance Departments
Gilbert Carrillo Executive Editor Loyola University Chicago School of Law, JD 2017 The state of New York is in the process of implementing a new rule requiring some financial U.S. and foreign institutions, with New York offices, to prove that their transaction monitoring and sanctions filtering programs for catching criminal activity do in fact …
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