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August 18, 2022 T&S Newsletter

Early Warning | Policy & Regulations | Jobs & Careers | T&S FAQs

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T&S Early Warning News

Get ahead of new stories that are impacting the T&S industry.

Facebook Is Collaborating With Cops to Criminalize Pregnancy Outcomes

Truthout | August 17, 2022

Company Listed: Facebook

Celeste Burgess, a 17-year-old girl, and her mother, Jessica Burgess, now face felony charges in their home state of Nebraska after Celeste Burgess allegedly self-managed an abortion after Nebraska’s 20-week abortion ban. Celeste, who is being tried as an adult, faces a felony charge related to burying the fetal remains and two misdemeanor charges of “concealing the death of another person” and lying to police. Her mother, who allegedly helped her self-manage an abortion, faces five charges, including inducing an abortion and performing an abortion without a license.

Law enforcement received a tip that Celeste Burgess allegedly miscarried and then buried the fetus with her mother’s help. Law enforcement then served Facebook a search warrant, with which Facebook complied, to find private messages in which the mother and daughter discussed Celeste Burgess’s self-managed abortion.

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Wasn’t TikTok Supposed to Be Fun?

NY Times | August 17, 2022

Company Listed: TikTok

There is a predictable trajectory for social media apps. Many of them start out as helpful or even pure fun. But when they get popular enough, just about every app becomes a place for consequential discussions about politics and social issues, too. And with that comes both meaningful conversations and a litany of nastiness.

This reality has come for TikTok. An app better known for viral dance videos has become a significant source of political and social misinformation, as my colleague Tiffany Hsu detailed in a recent article.

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Social media as valuable as classified info in fighting cyber threats, intel official says

Washington Times | August 17, 2022

Company Listed: Social Media

Social media posts are as valuable as classified information in understanding cyber threats, according to Laura Galante, intelligence community cyber executive.

Ms. Galante leads the Cyber Threat Intelligence Center, which has responsibility for gathering and analyzing intelligence on cyberattackers and hackers targeting government, business and critical infrastructures such as power and water systems.

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TikTok vows to close loophole letting users skirt ban on political ads

ARS Technica | August 18, 2022

Company Listed: TikTok

As TikTok’s popularity and earnings soar, the company has decided to crack down on political content creators—sometimes with thousands of followers—who violate the app's policies against paid political ads. TikTok says it has been aware of the problem since 2020, but it became an issue of public concern in 2021. That’s when the Washington Post and The Mozilla Foundation uncovered TikToks from both left- and right-wing content creators that appeared to be violating FTC guidelines, which require, at a minimum, that posts must be marked with an "#ad" hashtag.

TikTok has always left it up to content creators to self-disclose when they conduct deals with business partners off-site. However, in June 2021, the company made it easier to flag posts as ads (or “branded content”) in an effort to encourage more self-disclosure. Mozilla considered this a step in the right direction, but it recommended that TikTok work harder ahead of the next elections to promptly remove undisclosed paid political ads.

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TikTok to clamp down on paid political posts by influencers ahead of U.S. midterms

Reuters | August 18, 2022

Company Listed: TikTok

TikTok will work to prevent content creators from posting paid political messages on the short-form video app, as part of its preparation for the U.S. midterm election in November, the company said on Wednesday.

Critics and lawmakers accuse TikTok and rival social media companies including Meta Platforms (META.O) and Twitter (TWTR.N) of doing too little to stop political misinformation and divisive content from spreading on their apps.

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T&S Policies & Regulations

Regulatory news and policy decisions impacting the T&S ecosystem.

Compare and review T&S Policies for dozens of companies here

Federal Court Rejects $27.5 Million Settlement In Block. One ICO Case, Questions Reach Of Securities Law

Forbes | August 17, 2022

Company Listed: Social Media

A United States district court shot down a proposed $27.5 million settlement in a class-action lawsuit against Cayman Islands-based, that alleged a 2017 initial coin offering by the developer behind EOSEOS -7.9%.IO blockchain, was an unregistered securities sale. The court’s decision raised questions about how to determine which blockchain transactions are considered domestic and subject to U.S. securities law.

In 2019, the SEC fined $24 million for conducting an unregistered securities offering. The company paid the penalty without admitting to the regulator’s findings. In the class-action case, the court rejected the settlement on the grounds that the lead plaintiff in the case, Crypto Assets Opportunity Fund, is not an adequate class representative. The class represented by Crypto Assets Opportunity Fund includes individuals in and outside of the United States. The court ruled the U.S.-based fund’s foreign versus domestic token purchases do not proportionally align with the breakdown of the entire class, an issue because of different treatment for potential damages.

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India’s Data Privacy Bill Withdrawn: Why did this happen, and what happens next?

Lexology | August 17, 2022

Company Listed: Social Media

Like the flying car or the new ‘Game of Thrones’ novel, India’s new data privacy law had been described as being ‘almost ready’ and ‘a few months away’ for a very long time! The draft Personal Data Protection Bill, 2019, was in the public domain for a couple of years, raising hopes that India would have its own ‘GDPR equivalent’ privacy law very soon.

Then, in early August 2022, new broke that the Bill had been formally withdrawn from Parliament by the Indian Government. In this article we look at the history of this Bill, why it was withdrawn, and discuss what comes next for data protection in India.

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Coinbase CEO: We'd Shut Down Ethereum Staking If Threatened by Regulators

Decrypt | August 18, 2022

Company Listed: Social Media

Between the U.S. Treasury Department sanctioning coin mixer Tornado Cash earlier this month, and the long-awaited Ethereum merge quickly approaching, blockchain technologists are increasingly concerned that government regulations could impact the fundamental operation of Ethereum and its post-merge proof-of-stake consensus mechanism.

Coinbase CEO Brian Armstrong responded to a hypothetical scenario on Twitter today, saying that in the event of regulatory threats, his company would shut down its Ethereum staking service in order to preserve the integrity of the blockchain network.

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T&S Careers & Jobs

T&S jobs posted recently, often within the last 24 hours, looking for top talent.

Check out all the recent T&S job postings here.