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Facebook Cannot Be Trusted to Manage Cryptocurrency, US Lawmakers Say

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Facebook Cannot Be Trusted to Manage Cryptocurrency, US Lawmakers Say

A group of US lawmakers stated that Facebook Inc cannot be trusted to manage cryptocurrencies and urged social media platforms to immediately stop its small pilot of a cryptocurrency wallet called Novi, which it launched on Tuesday.

U.S. Democratic senators Brian Schatz, Sherrod Brown, Richard Blumenthal, Elizabeth Warren and Tina Smith voiced their opposition to Facebook’s two-year-old effort to launch a cryptocurrency and digital wallet. “Facebook has once again implemented digital currency plans on an aggressive timetable, and has already launched a pilot payment infrastructure network, although these plans are incompatible with actual financial The regulatory environment does not match.” Zuckerberg.

The senator wrote: “When Facebook’s existing risk management capabilities and the ability to ensure consumer safety prove to be completely insufficient, Facebook cannot be trusted to manage the payment system or digital currency.” The senators’ letters indicate that even a small pilot of Facebook’s cryptocurrency wallet will face scrutiny by legislators and regulators, who have previously raised antitrust and other concerns. A Novi spokesperson said: “We look forward to responding to the committee’s letter.”

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Facebook launched a cryptocurrency project in June 2019 as part of its efforts to expand into e-commerce and global payments. But the project was immediately strongly opposed by global policymakers, who feared that it would weaken their control of the currency system, encourage crime and compromise user privacy. In December, the project was renamed to regain regulatory approval, and its scope was further reduced to a single dollar backed digital coin. In another development, the U.S. Senate will hold hearings on October 26 with technology companies Snap’s Snapchat, TikTok and Alphabet’s YouTube on the impact of their platforms on young users, the group said on Tuesday.

Big technology companies are facing their big tobacco moment-a moment of liquidation,” said Richard Blumenthal, chairman of the Senate Commerce Consumer Protection Subcommittee, who chaired the hearing. “We need to understand the impact of popular platforms such as Snapchat, TikTok and YouTube on children, and what companies can do to better protect their safety.” The top Republican Senator Marcia Blackburn of the subcommittee said: “TikTok, Snapchat and YouTube have all played a leading role in exposing children to harmful content.”

A Snap spokesperson said the company looks forward to discussing their “methods to protect the safety, privacy and well-being of the Snapchat community.” TikTok confirmed that it would participate, but YouTube did not immediately respond to a request for comment.

News Source : The Hindu

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YouTube marks 20th anniversary by launching new useful features What’s new

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YouTube marks 20th anniversary by launching new useful features What’s new

YouTube has celebrated its 20th anniversary with several new features, including functional upgrades and new features for YouTube TV. The platform has introduced personalised radio stations via Ask Music, which is available to YouTube Premium and YouTube Music users on both iOS and Android devices. Additionally, YouTube is rolling out the ability to fast-forward.

YouTube TV members will gain the ability to build their own multiview experiences, starting with a selection of non-sports content from a small group of popular channels. The platform is introducing improved navigation, better playback quality, and easier access to features such as comments, channel information, and more through videos at 4x speed, providing more.

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  1. Delete Unnecessary Emails: Regularly clearing unwanted emails helps maintain storage. Open Gmail in your browser or mobile device, go to your Inbox, Social, or Spam folder, filter messages, select emails to delete or check the box to select all emails in the folder, and click the “Delete” button. The emails will be moved to the Trash folder Empty Your Spam and Trash Folders: If deleted emails remain in your Trash.
  2. Unsubscribe from Unwanted Emails: Open a promotional email and click “Unsubscribe” at the bottom of the email to reduce future accumulation April 2025 — YouTube, the world’s largest video-sharing platform, is celebrating its 20th anniversary with the launch of several innovative features aimed at enhancing user experience, empowering creators, and embracing the future of digital content.

  3. 1. AI-Powered Video Summaries
    One of the most anticipated features is AI-generated video summaries, which will now appear below eligible videos. This allows viewers to preview content quickly and decide whether to watch the full video. The summaries are automatically created using advanced natural language processing and are designed to boost discoverability and engagement.

  4. 2. “Jump Ahead” Smart Chapters
    YouTube is introducing smart chapters with “Jump Ahead” capabilities, allowing viewers to skip to the most engaging parts of videos based on audience retention data. The feature leverages machine learning to identify sections that retain viewers the most and gives users a prompt to “Jump Ahead” with a single tap.

  5. 3. Creator Insights Dashboard Upgrade
    For content creators, YouTube has upgraded its Creator Studio Dashboard with enhanced real-time analytics, audience mood tracking, and AI-suggested titles and tags. The platform’s algorithms now offer dynamic suggestions for improving performance, personalized for each creator’s channel and content style.

  6. 4. YouTube Create App Expansion
    Following positive feedback from beta users, YouTube is officially rolling out the YouTube Create app in over 30 new countries. This free mobile video editing tool includes features like auto-captions, royalty-free music, filters, and multi-clip editing — giving creators more control without the need for expensive software.

  7. 5. Enhanced Live Shopping Tools
    With e-commerce booming, YouTube is expanding its Live Shopping tools, allowing creators to tag mini-social network within the platform. These tools are products, integrate affiliate links, and host shoppable livestreams with real-time viewer interaction. The new update supports multi-vendor support, making collaborations with brands smoother and more profitable.

  8. 6. Smart TV Upgrades
    YouTube is giving its TV interface a refresh, introducing a sleeker design with quicker access to playlists, subscriptions, and smart recommendations. A new “Ambient Mode interactive content suggestions and previews when the app is idle, turning the TV into a dynamic home hub for entertainment.

  9. 7. Community Tab Enhancements
    To improve engagement, YouTube is enhancing its Community Tab with interactive stickers, polls, countdowns, and quizzes — turning it into a mini-social network within the platform. These tools are aimed at helping creators keep their audience involved even between video uploads.
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  3. Entertainment News Platforms – https://anyflix.in/

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