Digital Asset Regulation, Texas Social Media Law Upheld, WISPA Approves California Tech Neutrality Bill: Broadband Breakfast

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September 19, 2022 – President Joe BidenThe White House on Friday announced a “comprehensive framework” for the regulation of digital assets, including cryptocurrencies.

The new framework, according to a White House fact sheet, calls for enhanced federal scrutiny of “unlawful practices in the digital asset space,” encouraging the Federal Trade Commission, Securities and Exchange Commission, Commodity Futures Trading Commission and other agencies to “aggressively pursue investigation and enforcement action” against violators. The framework commits the Biden administration to investing in crypto and cybersecurity research and development and monitoring the environmental impacts of digital assets.

Digital assets are increasingly popular, but tend to become unstable. According to the White House, “the current global cryptocurrency market capitalization is about one-third of its November 2021 peak.” Going forward, the Biden administration said it seeks to implement “a clear framework for the responsible development of digital assets and pave the way for further action at home and abroad,” the statement said. information sheet.

In addition, a US digital currency may soon see the light of day. The US Treasury will lead a task force that will assess the benefits “potential implications” of such a project.

“Innovation is one of the hallmarks of a vibrant financial system and economy,” the Treasury Secretary said. Janet Yellen in a press briefing published on Friday. “But as we have painfully learned from history, innovation without proper regulation can lead to significant disruption and harm to financial systems and individuals.”

Earlier this month, the Corporate Finance Division of the Securities and Exchange Commission announced the addition of offices focused on crypto assets.

Appeals court rules in favor of Texas social media bill

5e The Circuit Court of Appeals on Friday upheld a controversial Texas law that limits the social media platform’s ability to moderate certain content.

Texas law, HB 20, would prevent major social media companies from censoring user content based on point of view.

In its 2-1 decision, the 5e Circuit dismissed the plaintiffs’ “rather bizarre inversion of the First Amendment.”

“This amendment, of course, protects every person’s right to ‘freedom of expression’. But the platforms argue that buried somewhere in a person’s enumerated right to free speech is a company’s right. not numbered right to muzzle word.”

Plaintiffs NetChoice and Computer and Communications Industry Association brought the original action against the state. “We strongly disagree with the court’s decision,” the CCIA president said. matt schruer said in a statement. “Forcing private companies to give equal treatment to all viewpoints on their platforms puts foreign propaganda and extremism on a par with decent internet users, and puts Americans at risk. “God Bless America” ​​and “Death to America” ​​are two points of view, and it is reckless and unconstitutional for the State of Texas to compel a private company to treat them the same.”

Last May, the Supreme Court delayed the entry into force of HB 20 until 5e Circuit issued a decision.

HB 20 – like a similar Florida social media law that was largely overturned by 11e Circuit – was written to challenge alleged censorship of right-wing content by social media platforms. Critics say these laws are unconstitutional and dangerous to the institution of free speech.

WISPA Approves California’s Tech Neutrality Bill

The Wireless Internet Service Providers Association on Thursday approved California’s AB 2749, a bill that would make WISPs eligible for state funding.

“WISPA members provide a wide range of broadband solutions that connect rural, disadvantaged and tribal areas. To reach these communities in California, WISPA members use fiber and fixed wireless solutions – a holistic approach that can be finely tuned to the unique characteristics of each community,” the advocacy group’s statement read.

Both houses of the California legislature passed AB 2749 last month without a single “no” vote. The WISPA statement called the governor. Gavin Newsom sign the bill.

The issue of technology neutrality is hotly debated in the world of broadband politics. While pro-neutrality voices like WISPA argue that communities should have access to a wide range of technology options, fiber advocates argue that their preferred technology is superior and more sustainable.

A recent report by the Fiber Broadband Association argued that fibre-to-the-home performs better, is more environmentally friendly, cheaper in the long run and more popular with customers than its competing technologies.

Last month, CEO and President of FBA Gary Bolton welcomed the Federal Communications Commission’s controversial decision to revoke Starlink’s $885 million award from the Rural Digital Opportunity Fund. “The Fiber Broadband Association continues to provide research and results that demonstrate that fiber-based broadband is the only infrastructure that will deliver the reliable broadband services that will bring digital equity to every corner of North America. “, said its press release.

National Telecommunications and Information Administration officials have previously said they prefer fiber for future infrastructure construction.

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