Tag Archives: Bill

The proposed bipartisan legislation by Sens. Richard Blumenthal, Amy Klobuchar and Marsha Blackburn would outlaw certain contractual obligations that app developers say they are forced to accept from major app stores in order to reach consumers. If enacted, the bill could impose sweeping new requirements on major tech platforms; its provisions apply to all app distribution services with more than 50 million users. Under the bill, Apple (AAPL) — for example — could not require apps to use… Source link

A new bipartisan bill announced Wednesday seeks to bring more competition to the app store market currently dominated by Apple and Google. The Open App Markets Act, led by Sens. Marsha Blackburn, R-Tenn., and Richard Blumenthal, D-Conn., and Amy Klobuchar, D-Minn., would shake up the business model of both company’s app stores and the structure of their mobile operating systems. The bill targets, in part, the in-app payment systems for companies that own app stores with more than 50 million… Source link

A bipartisan trio of senators is trying to change a cryptocurrency provision in the infrastructure bill that the industry warns will have a “devastating” impact on the space. As it stands, the infrastructure bill aims to raise revenue by cracking down on cryptocurrency tax reporting.   The industry argues the current measure included in the bill is too broad — and would force miners, developers and other “non-financial intermediaries” to face the new reporting requirements, though they… Source link

The latest congressional infrastructure bill, which includes provisions on the regulation of crypto assets, could help legitimize cryptocurrencies within the mainstream financial community, says MoffettNathanson Partner Lisa Ellis. “What’s been holding up the crypto ETFs is that the SEC has very stringent requirements for things like liquidity, transparency, price stability,” Ellis said. “[There are] very well-established rules when it comes to stock investing,” she said. “Those same… Source link

With its stock price down about 72% year-to-date amid an overall cooling in the SPAC craze, QuantumScape founder and CEO Jagdeep Singh has a message to the market.  The upstart solid state battery maker remains on track with everything it said it would do when it debuted via a SPAC transaction late in 2020.  Singh said on Yahoo Finance Live the company is still eyeing commercialization of its battery technology in the 2024-2025 timeframe. Its key partner and backer Volkswagen will be the… Source link

Democratic lawmakers continue to pressure President Biden to extend the student loan pandemic payment pause and enact student loan forgiveness. “Tick tock, tick tock — over 30 million Americans will have a bill coming due in about two months,” said Senator Elizabeth Warren (D-MA) during a press conference. “The payment pause is running out on student loan debt payments. The size of these payments for many borrowers is the size of their rent, their car payments, groceries, child care —… Source link

By David Lawder and Joel Schectman    WASHINGTON, July 18 (Reuters) – U.S. lawmakers trying to salvage a $1.2 trillion bipartisan infrastructure bill have dropped a provision to beef up tax enforcement, Republican Senator Rob Portman said on Sunday, setting aside a significant revenue-raising measure.    The provision, aimed at increasing Internal Revenue Service (IRS) collections, will instead likely be added to a separate budget “reconciliation” bill being pushed by Democrats as a… Source link

The prospect of a retreat from Hong Kong was floated in a letter released publicly this week by the Asia Internet Coalition (AIC), a Singapore-based association that counts Facebook (FB), Twitter (TWTR) and Google (GOOGL) as members. The memo, which is dated June 25 and sent by the group to Hong Kong’s privacy commissioner for personal data, Ada Chung Lai-ling, pushes back on a recently introduced bill that seeks to crack down on doxxing. The practice refers to the sharing of private… Source link

PHILADELPHIA (AP) — Pennsylvania’s highest court threw out Bill Cosby’s sexual assault conviction and released him from prison Wednesday in a stunning reversal of fortune for the comedian once known as “America’s Dad,” ruling that the prosecutor who brought the case was bound by his predecessor’s agreement not to charge Cosby. Cosby, 83, flashed the V-for-victory sign to a helicopter overhead as he trudged into his suburban Philadelphia home after serving nearly three years of a… Source link

President Biden announced a huge bipartisan infrastructure deal on Thursday, then spent the next four days trying to assure progressive Democrats he will also fight hard to pass a more sweeping package while assuring moderate Republicans and Democrats he is totally committed to the bipartisan package and would sign it if it arrived at his desk. On Tuesday, Biden will host members of the Congressional Progressive Caucus at the White House to shore up support for the package on the left, then… Source link