News from January 2024
U.S. Attorney's Office, Southern District of Florida asks public to help limit child trafficking
By Federal Newswire | Jan 29, 2024
The U.S. Attorney's Office for the Southern District of Florida has issued a public appeal for assistance in combating child trafficking and exploitation. The office stated that while it remains committed to enforcing laws against these crimes, public support is crucial.
OxyChem recommends 'that all responsible parties – not the public – pay for the cleanup of the Passaic River'
By Federal Newswire | Jan 29, 2024
Eric Moses, a spokesperson for global chemical manufacturer OxyChem, indicated in a Jan. 25 statement to Federal Newswire that the Environmental Protection Agency's (EPA) proposed settlement for the cleanup of New Jersey's Passaic River only covers a portion of the total funding needed for remediation. This could potentially leave taxpayers to cover the remaining costs. The New Jersey Department of Environmental Protection has declined to comment on this matter.
Amazon Web Services plans to invest 2.26 trillion yen in Japanese cloud infrastructure
By Federal Newswire | Jan 29, 2024
Amazon has declared its plan to invest 2.26 trillion yen in its Japanese cloud infrastructure by 2027. An economic study predicts that this investment will bolster Japan's gross domestic product (GDP) by 5.57 trillion yen.
Environmental Protection Agency announces filing of modified proposed consent decree for Diamond Alkali Superfund site
By Federal Newswire | Jan 29, 2024
The Environmental Protection Agency (EPA) has informed Federal Newswire that a modified consent decree, related to the cleanup of the Diamond Alkali Superfund site in New Jersey, was filed on Jan. 17. The EPA stated that the funds allocated for the settlement could be utilized for a variety of purposes.
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New report finds Shein, Temu fueled by slave labor in Xinjiang
By Federal Newswire | Jan 29, 2024
The America First Policy Institute (AFPI) has released a report stating that leading fast fashion brands, Shein and Temu, are powered by "slave labor". The author of the report, Adam Savit, who is also the director of AFPI's China Policy Initiative, said that Uyghur Muslims and other ethnic minorities are subjected to forced labor in China's Xinjiang region, benefitting the Chinese Communist Party (CCP).
RVtravel author Randall Brink on NAC withdrawal: 'Significant victory for outdoor recreation enthusiasts'
By Federal Newswire | Jan 29, 2024
Randall Brink, a contributing author for RVtravel, recently penned an article in response to the Securities and Exchange Commission's (SEC) decision to withdraw the Natural Asset Company (NAC) proposal. Brink hailed this development as a victory for the RV community and outdoor enthusiasts.
Wyoming Sen. Cynthia Lummis voices approval for withdrawal of NACs, explains role in removal of proposal
By Federal Newswire | Jan 29, 2024
U.S. Senator Cynthia Lummis (R-Wyo.) has commended the New York Stock Exchange's (NYSE) decision to retract the proposed Natural Asset Company (NAC) rule. Before this development, Lummis had collaborated with fellow Wyoming Congresswoman U.S. Representative Harriet Hageman (R-Wyo.) in expressing opposition to the rule.
Durbin Meets with NCAA President to Discuss Name, Image, Likeness Policy in Collegiate Sports
By Federal Newswire | Jan 28, 2024
U.S. Senate Majority Whip Dick Durbin, Chair of the Senate Judiciary Committee, recently met with NCAA President Charlie Baker to address the issue of name, image, and likeness (NIL) rights for college athletes. The meeting aimed to discuss proposals for modernizing Division I athletics in light of the evolving landscape of collegiate sports.Durbin emphasized the importance of fair compensation for college athletes, stating, "College sports is a big business that generates even bigger profits, yet little of this money makes its way to the athletes who made these...
DOJ and FTC update guidance and warn companies using ephemeral messaging apps
By Federal Newswire | Jan 28, 2024
In response to the growing use of collaboration and ephemeral messaging platforms by companies, the Department of Justice (DOJ) Antitrust Division and the Federal Trade Commission (FTC) have revised their standard preservation letters and specifications. These modifications are applicable to all second requests, voluntary access letters, and compulsory legal processes.
Rep. Krishnamoorthi: US taxpayer dollars should not be used to 'subsidize biotech companies of our foreign adversaries'
By Federal Newswire | Jan 27, 2024
Chairman Mike Gallagher (R-Wis.) and Ranking Member Raja Krishnamoorthi (D-Ill.) of the Select Committee on the Chinese Communist Party (CCP) have introduced the "BIOSECURE Act." This legislation aims to prevent foreign biotech companies from accessing U.S. taxpayer dollars.
FTC issues orders to Alphabet, Amazon, Anthropic, OpenAI and Microsoft in AI inquiry
By Federal Newswire | Jan 27, 2024
The Federal Trade Commission (FTC) has initiated an investigation into investments and partnerships related to generative artificial intelligence (AI). The FTC has issued orders to five companies—Alphabet, Inc., Amazon.com, Inc., Anthropic PBC, Microsoft Corp., and OpenAI, Inc.—to provide information as part of this inquiry.
Study finds that investors lost 54.3% less in crypto scams in 2023 when compared to 2022
By Federal Newswire | Jan 27, 2024
In 2023, the total value of stolen cryptocurrency funds witnessed a significant decrease of 54.3%, amounting to $1.7 billion. This is in stark contrast to the previous year when over $3.7 billion were pilfered through hacks and theft.
Ark Invest CEO still believes strongly in Bitcoin despite recent price drop
By Federal Newswire | Jan 27, 2024
Ark Invest has recently acquired 94,918 shares of its own Bitcoin Exchange-Traded Fund (ETF), a move that underscores CEO Cathie Wood's enduring optimism about the future growth potential of the cryptocurrency. Wood has asserted her belief that Bitcoin could escalate to a price exceeding $1.5 million by 2030.
US Government is going to sell over $131 million in Bitcoin it seized in a money laundering scheme
By Federal Newswire | Jan 27, 2024
The United States Government has announced plans to auction off over $131 million worth of Bitcoin, previously seized in a money laundering and drug trafficking operation. The cryptocurrency was initially intended for federal forfeiture.
The price of Bitcoin has fallen over 15% since the launch of the crypto as an ETP
By Federal Newswire | Jan 27, 2024
Since the Securities and Exchange Commission (SEC) approved Bitcoin to be traded as an Exchange-Traded Product (ETP), the price of the cryptocurrency has experienced a 15% decrease. The approval for the listing of spot bitcoin exchange-traded product shares was granted on January 10th.
Updates on the SEC lawsuits against largest crypto asset trading platform in the world
By Federal Newswire | Jan 27, 2024
In 2023, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission have accused Binance, a leading cryptocurrency exchange platform, of numerous violations and fraudulent schemes. The charges encompass inflating trading volumes, misappropriation of customer funds, and misleading investors about market controls.
Digital trading platform Debiex charged for fraud and misappropriation of funds
By Federal Newswire | Jan 27, 2024
The Commodity Futures Trading Commission (CFTC) has accused digital asset trading platform Debiex of fraudulent practices and misappropriation linked to an online romance scam. The charges suggest that the digital asset company employed typical romance scam strategies to divert $2.3 million of customer funds initially designated for digital asset commodity trading.
The Department of Veteran Affairs is awarding $52.5 million to organizations that work to prevent Veteran suicide
By Federal Newswire | Jan 27, 2024
The Department of Veteran Affairs (VA) has announced the availability of $52.5 million in grant funding to support local organizations committed to preventing veteran suicide. In 2021, an estimated 6,392 veterans took their own lives.
NTCA—The Rural Broadband Association VP: During disasters, providers should focus on ‘restoration,’ not FCC status reports
By Federal Newswire | Jan 26, 2024
The Federal Communications Commission (FCC) has sanctioned new regulations that mandate broadband and other essential communications providers to report their operational status daily during disasters. However, these rules may pose challenges for rural telecommunications companies represented by the NTCA–The Rural Broadband Association (NTCA), potentially hindering service restoration.
U.S. Sen. John Barrasso of Wyoming: 'The New York Stock Exchange’s overreaching proposal would have surrendered America’s public lands to the highest bidder'
By Federal Newswire | Jan 26, 2024
U.S. Sen. John Barrasso (R-Wyo.) has expressed his support for the New York Stock Exchange's (NYSE) decision to withdraw a proposal to incorporate Natural Asset Companies (NACs) into the Exchange. He highlighted the potential threat this could have posed to public lands. His remarks came shortly after the U.S. Securities and Exchange Commission (SEC) announced the termination of the proposal.
