Commerce News
Commerce
The U.S. Senate Subcommittee on Privacy, Technology, and the Law convened May 16 for a hearing on "Oversight of A.I.: Rules for Artificial Intelligence."
Commerce
Chamber of Digital Commerce: 'We stand in solidarity with Coinbase in their ongoing legal battle against the Securities and Exchange Commission'
Coinbase, the largest cryptocurrency exchange in the U.S., took action in federal court last month, asking the U.S. Securities and Exchange Commission (SEC) to respond to a petition the company filed last year seeking clarity for the digital asset industry.
Commerce
Graves: Economic Development District in Puerto Rico ‘a foundation for future economic success’
The first regional Economic Development District in Puerto Rico has been designated by the U.S. Department of Commerce’s Economic Development Administration.
Commerce
Loughead: 'Moving to a single-rate tax structure would yield many benefits for Wisconsin'
Katherine Loughead, a senior policy analyst with the nonpartisan Tax Foundation, recently made recommendations to improve Wisconsin’s tax structure and competitiveness in her testimony before the state legislature’s Committee on Ways and Means.
Commerce
Randolph: An injunction breaking up Facebook 'would have severe consequences'
The social media giant Meta, formerly Facebook, secured a legal victory after a federal appeals court dismissed an antitrust lawsuit filed by several U.S. states seeking to break up the company, citing a lack of proof that the firm's data policies damaged competition.
Commerce
Srinivasan: 'I just burned a million to tell you they're printing trillions'
Former Coinbase Chief Technology Officer Balaji Srinivasan settled his March wager that Bitcoin will hit $1 million in just 90 days while warning the public that he believes that hyperinflation is imminent.
Commerce
Raimondo: “The Tech Hubs program is a critical piece of President Biden’s Investing in America strategy"
The U.S. Department of Commerce’s Economic Development Administration (EDA) has launched the Regional Technology and Innovation Hubs (Tech Hubs) competition.
Commerce
Clark: ‘We can’t take a blunt approach on China’
The president and CEO of the U.S. Chamber of Commerce told the 13th annual China Business Conference leadership and action are needed regarding the U.S.-China relationship.
Commerce
FTC sues VoIP provider: 'XCast Labs played a key role in helping telemarketers flood homes with unlawful robocalls'
The FTC announced in a recent press release that it has filed a lawsuit to stop a supplier of VoIP from sending millions of illegal robocalls over its network to consumers nationwide after receiving warnings to discontinue.
Commerce
OpenAI CEO: 'Regulation of AI is essential'
Samuel Altman, CEO of OpenAI, testified before the US Senate Subcommittee on Privacy, Technology, and the Law today, urging lawmakers to take a proactive role in regulating Artificial Intelligence (AI) and fostering a cooperative relationship between the government and the AI industry.
Commerce
Lago: 'ITA and NCAEID is designed to assist Tribal Nations and Native businesses'
International Trade Administration recently signed an agreement with the National Center for American Indian Enterprise Development to facilitate exports and foreign direct investment.
Commerce
Cooper: Funding for Lexington 'will help bring new industries and support the community for generations to come'
A North Carolina town is getting a $1.3 million federal grant for an infrastructure project that will boost business expansion, job creation and the local economy.
Commerce
Utah representative says congressional support for PCB bill 'is needed to reduce reliance on China'
Reps. Blake Moore (R-UT) and Anna Eshoo (D-CA) have reintroduced the Protecting Circuit Boards and Substrates Act, which aims to encourage domestic printed circuit board (PCB) production to help decrease American reliance on China.
Commerce
Raimondo: Well-trained U.S. workforce 'critical to spurring more foreign direct investment'
A joint federal initiative has been launched to develop a network of skilled employees to fill the workforce requirements of foreign firms with new or expanding U.S. operations.
Commerce
Raimondo: 'I look forward to hosting the IPEF Ministers in Detroit'
The United States will host an Indo-Pacific Economic Framework (IPEF) ministerial meeting in Detroit on May 27.
Commerce
SEC Chair Gensler: Advisory committee's new members will play important role 'for companies of every size'
SEC has confirmed new members of the Small Business Capital Formation Advisory Committee.
Commerce
U.S. Chamber of Commerce hosts Bangladeshi prime minister
The U.S. Chamber of Commerce played host to Bangladesh Prime Minister Sheikh Hasina for the inaugural visit to push forward a U.S.-Bangladesh commercial partnership.
Commerce
European Central Bank sets measures to battle high euro inflation
The European Central Bank (ECB) has announced a 25 basis point increase in its three key interest rates, in response to high inflation pressures in the euro area.
Commerce
McHenry: 'It’s the job of lawmakers — not unelected bureaucrats — to legislate a regulatory framework' for digital assets
Congressman Patrick McHenry (R-NC), the chairman of the House Financial Services Committee, sent a letter on May 9 to House Appropriations Committee Chairwoman Kay Granger (TX-12) and Ranking Member Rosa DeLauro (CT-03) outlining his committee's priorities. McHenry said in the letter that a top priority is ensuring that innovation can thrive in the U.S., and he believes that in order for that to happen, Congress needs to pass a comprehensive bill laying out regulations for digital assets.
Commerce
Gensler: Updates to Form PF will 'help protect investors and promote financial stability'
The U.S. Securities and Exchange Commission (SEC) has adopted amendments to a confidential reporting form for certain SEC-registered investment advisers to private funds.
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