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Facebook Cannot Be Trusted to Manage Cryptocurrency, US Lawmakers Say

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3 years ago

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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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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

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3 weeks ago

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January 30, 2025

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

Akshay Kumar and Priyadarshan, the acclaimed Indian director, celebrated their 68th birthday on Instagram. Kumar, who has worked with Priyadarshan on several cult comedies of the early 2000s, wished him a happy birthday and called him a mentor. The duo is now back together for their upcoming horror-comedy, Bhooth Bangla.

The first poster of the movie has been released, and it is expected to hit theaters in 2025. Akshay Kumar wore a black fedora and a green jacket, layered over a black tee, and fans have expressed their excitement for their new movie.

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The duo’s dynamic and deep bonding have been praised by fans, who have expressed high anticipation for their new movie. The first poster of Bhooth Bangla has already been released, and the movie is expected to hit theaters in 2025.

Akshay Kumar, the versatile Bollywood actor, recently celebrated director Priyadarshan’s birthday by sharing a behind-the-scenes (BTS) photograph from their upcoming film, “Bhooth Bangla.” In the image, Akshay humorously captioned, “Surrounded by ghosts…” The photo features Akshay alongside Priyadarshan and co-actor Paresh Rawal, all dressed in traditional attire, with a black cat perched on Akshay’s shoulder, adding a whimsical touch to the scene.

Reunion After 14 Years

This collaboration marks a significant reunion between Akshay Kumar and Priyadarshan, who last worked together on the film “Bhool Bhulaiyaa” in 2007. Their partnership has been celebrated in the past for delivering successful comedies like “Hera Pheri” and “Garam Masala.” Fans have eagerly anticipated their return to the big screen together, and “Bhooth Bangla” promises to be a delightful addition to their repertoire.

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About ‘Bhooth Bangla’

“Bhooth Bangla” is a horror-comedy that blends elements of suspense with humor, a genre in which both Akshay Kumar and Priyadarshan have excelled. The film is produced by Balaji Telefilms Ltd in association with Cape of Good Films. The motion poster released earlier this year features Akshay Kumar in a suit, with a cat on his shoulder, licking milk slyly, setting the tone for the film’s intriguing and humorous premise.

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Anticipation and Fan Reactions

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The BTS photo shared by Akshay Kumar has generated excitement among fans, who are eager to see the trio back together on screen. The playful caption and the presence of the black cat suggest that “Bhooth Bangla” will offer a mix of thrills and laughs, staying true to the successful formula of their previous collaborations.

As the release date for “Bhooth Bangla be a significant highlight in the upcoming entertainment lineup. The reunion of Akshay Kumar, Priyadarshan, and Paresh Rawal, combined with the intriguing premise and the playful BTS moments, has set high expectations among audiences. Fans can look forward to a cinematic experience that promises both chills and chuckles.

For a visual glimpse into the making of “Bhooth Bangla,” you can watch the following video Akshay Kumar expressed his gratitude as they once again united for their upcoming movie Bhooth Bangla. This marks a new chapter in their long-standing collaboration since the 2000s. He shared a picture from behind the scenes of their new movie, where it seems like they are laughing about something.

Akshay wrote,”Happy Birthday, Priyan Sir! What better way to celebrate than by spending the day on a haunted set, surrounded by ghosts…both real and unpaid extras? Thank you for being a mentor, and the only person who can make chaos look like a masterpiece. May your day be filled with fewer retakes. Wishing you a fantastic year ahead!”

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