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IRS Says Digital Assets Are Not (Yet) Subject to Cash Reporting Obligations
The Internal Revenue Service (“IRS”) issued an announcement that it is delaying implementation of reporting obligations for businesses that accept large amounts of digital assets. This SKrypto Blog Post summarizes cash and digital asset reporting obligations by businesses….By: Seward & Kissel LLP
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Bitcoin ETFs and workplace retirement plans: DOL has ‘serious concerns’
The U.S. Securities and Exchange Commission (SEC) recently approved applications from large investment firms to offer spot bitcoin exchange-traded funds (ETFs). Retail investors can now buy bitcoin ETFs on traditional exchanges instead of crypto-specific exchanges or trading in even more volatile crypto futures. Originally published in The Journal of Record – January 18, 2024….By: McAfee…
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AI as an Inventor? . . . Not so Fast
In December, the United Kingdom (the “U.K.”) became the fourth jurisdiction to reach a final determination that a generative AI platform could not be named as an inventor on a patent. Like courts in the United States, Australia and Taiwan before it, the U.K. Supreme Court relied on statutory language to hold that “an inventor…
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EU Regulators Confirm that Cookie Consent Rules Apply to Much Broader Range of Tracking Technologies
Article 5(3) of the EU ePrivacy Directive (ePD) requires consent for tracking cookies (unless exceptions apply). Although this rule is best known as the reason behind ‘cookie’ banners, it is technology neutral and applies to other tracking technologies as well….By: McDermott Will & Emery
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New Legislation Proposed in Tennessee to Protect Against Deepfakes: ELVIS Act
Recent advances in technology and artificial intelligence have the power to completely disrupt the world of advertising, media, music, sports, and entertainment by manipulating digital content to create synthetic photos and videos that are virtually indistinguishable from real life. These so-called “deepfakes” can be used to misappropriate virtually anyone’s image and likeness for unlawful commercial…
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Plaintiff’s Motion to Remand Granted in Leopold v. Air
U.S. District Court for the Southern District of Illinois – In Leopold v. Air, plaintiff Debra Leopold filed an asbestos action in the Circuit Court for the Third Judicial Circuit, Madison County, Illinois. Defendant Goulds Pumps, LLC removed the case to the U.S. District Court for the Southern District of Illinois pursuant to the provisions…
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Hampton-Newport News Community Services Board Reports Recent Ransomware Attack, Leading to Data Breach
Earlier this month, the Hampton-Newport News Community Services Board (“HNNCSB”) filed a notice of data breach with the Attorney General of Massachusetts after discovering that the organization was the victim of a “sophisticated ransomware attack.” In this notice, HNNCSB explains that the incident resulted in an unauthorized party being able to access consumers’ sensitive information,…
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Raptor Technologies Data Breach: Unsecured Database Leaks Student, Parent and Teacher Information
On January 11, 2024, Wired reported on a massive data breach stemming from an unsecured Raptor Technologies database. In this article, Wired notes that cybersecurity researcher Jeremy Fowler located the Raptor database, which contained school safety procedures, student medical files, and court documents, and was publicly available online….By: Console and Associates, P.C.
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Israel-Hamas War: Fighting Eases in Northern Gaza, Giving Residents Some Relief
The sounds of gun battles and explosions are becoming less frequent, residents say, after Israel reduced the intensity of its military campaign in the north.
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Why Iran Is the Common Link in Conflicts From Gaza to Pakistan
Iran’s long history of building up proxy forces that fight its enemies around the region, as well as its conflicts with separatist and terrorist groups, have played into a spate of recent conflicts.
