News 

Tech giants and elected officials back Microsoft in Supreme Court case on international data privacy

“The outcome could set a precedent for warrants aiming to access data stored by U.S. tech companies overseas” writes Nat Levy for geekwire.com. The case centers around email from a Microsoft customer stored in the company’s Ireland data center.Law enforcement officers weren’t traveling to Ireland to physically confiscate evidence, so the location of the evidence was not relevant, those rulings concluded.The dispute arose from a 2013 drug-trafficking investigation and deals with the question of whether law enforcement can gain access to a foreign user’s data stored by a U.S. company in a…

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Crypto News 

CFTC brings two more cases against bitcoin fraud schemes

“The Commodity Futures Trading Commission hauled two different alleged bitcoin fraudsters into New York federal court on Thursday cases related to virtual currency scams” writes Francine Mckenna for marketwatch.com. The stopped making payments to their customers after allegedly redirecting over $1 million in customers’ funds to themselves.In reality, as alleged, customers only bought into the Defendants’ fraudulent scheme.” McDonnell has ever been registered with the CFTC in any capacity, the regulator said.Dean launched another similar trading venture under the name Real Trade Profits, using a website to solicit customers to…

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News 

IRS asks for extra cash: Are Americans more at risk of being audited?

“Throughout fiscal year 2016, the overall number of individual tax returns audited by the IRS dropped to 0.7%, the lowest level in more than a decade” writes Brittany De Lea for foxbusiness.com. Everson views tax reform as an opportunity for the IRS to start fresh.Since some enforcement procedures at the IRS are tied to budgetary constraints, the number of audits moving forward could be linked to the success of the tax reform rollout. Source: foxbusiness.com Share This:

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News 

It is too late to dismantle the marijuana industry

“That is why it was surprising to wake up last week to the news that the Justice Department, without advance notice, rescinded the nationwide guidance regarding marijuana enforcement” reports washingtonpost.com. Frankly, it is too late for the federal government to step in and dismantle this burgeoning industry.For better or worse, legalized marijuana has become more accepted around the country, with 29 states and the District now having some form of cannabis legalization.But in Colorado, we remain committed to improving the laws and regulations governing marijuana businesses.Right now, federal law forces…

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News 

U.S. Lawmakers Told to Increase Funding for Sanctions Enforcement

“Effective governance remains a top focus for U.S. banking sector regulators, with a strong emphasis placed on sustainability, accountability, holistic end-to-end views and conduct” writes Samuel Rubenfeld for wsj.com. Regulators have been assessing their rules, guidance and supervisory expectations with an eye toward improving the effectiveness of outcomes. As a part of this trend, the Federal Reserve Board is signaling a new age of governance and accountability through recent proposals on board effectiveness, a new rating system for large financial institutions and supervisory expectations for senior management, business line management…

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News 

Immigration agents descend on dozens of 7-Eleven stores

“Immigration agents descended on dozens of 7-Eleven convenience stores before dawn Wednesday to begin checking on employees’ immigration status in what officials described as the largest operation against an employer under Donald Trump’s presidency” reports foxbusiness.com. After the inspections, officials planned to look at whether the cases warrant administrative action or criminal investigations, Benner said.The action appears to open a new front in Trump’s expansion of immigration enforcement, which has already brought a 40 percent increase in deportation arrests. Source: foxbusiness.com Share This:

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Singaporean official clarifies AML approach regarding virtual currency transactions

“However, at some stage, fiat currency are exchanged for virtual currency, or vice versa, at intermediaries that buy, sell or exchange virtual currency” reports financefeeds.com. Questions regarding virtual currencies are piling up for top officials, with the latest one concerning the AML/CFT enforcement on virtual currency transactions.MAS recognizes that virtual currency transactions, given their anonymous nature, may be used to conceal illicit movement of funds, he said.The Singaporean authorities have been trying to strike the balance between mitigating the risks for investors using virtual currencies and not turning their back to…

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Markets News 

What the Future of U.S. Antitrust Should Look Like

“No wonder the framework that has guided antitrust enforcement for the last four decades is coming under intense scrutiny” reports hbr.org. No wonder the framework that has guided antitrust enforcement for the last four decades is coming under intense scrutiny.As testimony offered during the hearing made clear, the current debate features three different understandings of the purpose of antitrust legislation, and three different standards for judging when antitrust enforcement is warranted.Populists regard the consumer welfare standard as inadequate because it pays no attention to the political dimension of antitrust.Fourth, the transaction…

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Brokers News 

Democrats may legitimately care about these young illegal immigrants affected by DACA, but not enough to fix the problem.

“No White House or leading lawmaker of either party has seriously entertained deporting 11 million illegal immigrants now in the U.S. Presidents Barack Obama and Trump both used discretion and triage in deciding which illegal immigrants to target for deportation” writes Washington Examiner for washingtonexaminer.com. A trade-off of border security for clemency for blameless illegal immigrants is reasonable and logical.Democrats, while gnashing their teeth about the fate of “Dreamers,” illegal immigrants who arrived as children, behave as though they don’t actually want to keep these immigrants in the country. Source: washingtonexaminer.com…

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