On February 14, the SEC announced a settlement with BlockFi Lending LLC (BlockFi), a crypto service provider, further showing the increased legal scrutiny in this area in terms of regulatory action, joining the Consumer Financial Protection Bureau (CFPB)’s settlement with… Read More ›
Digital Platform Regulation
Federal Cryptocurrency Case Challenges PoolTogether Inc.’s “No-Loss Lottery”
A case filed on November 30, 2021 in Federal Court in the Eastern District of New York, is making the assertion that the cryptocurrency based “no-loss lottery” of Pool Together, Inc. (PoolTogether) is unlawful. The case is one of the… Read More ›
Concluded Legal Action against LendUp Loans, LLC, Provides Guidance for Other Lending Startups
Relevant to NYC’s lending startups, on December 21, the Consumer Financial Protection Bureau (CFPB) announced an agreement with LendUp Loans, LLC (LendUp) under which the company would cease making any new loans and collecting on certain outstanding loans among other restrictions and… Read More ›
Increased Government Scrutiny of Large Tech Companies Increases at Both Federal and State Levels and Internationally
The anti-trust action brought by the U.S. Department of Justice during October of last year was not the first time federal regulators considered taking action against Google. Newly revealed documents from a 2011-2013 Federal Trade Investigation revealed by Politico also… Read More ›
Google Calls DOJ Antitrust Action ‘Deeply Flawed’
In a blog post by SVP of Global Affairs Kent Walker, Google responded on Tuesday to the arguments found in the antitrust action brought against it by the U.S. Department of Justice the same day, asserting that consumers are not forced to… Read More ›
Calling Google the ‘Monopoly Gatekeeper of the Internet,’ U.S. Justice Department Files Antitrust Action
On Tuesday, the U.S. Department of Justice along with eleven states that include Florida, Texas and Arkansas filed a civil action against Google in the U.S. District Court for the District of Columbia alleging that the company unlawfully maintained “a monopoly in… Read More ›
Following Nation’s First Cybersecurity Regulation, NYS Releases Recommendations to Regulate Social Media Platforms
On Wednesday New York State’s Department of Financial Services (DFS) released the results of its investigation into the July 15 hacking of the Twitter accounts of cryptocurrency firms and public figures such as Presidential candidate Joe Biden, using the opportunity to call… Read More ›
Microsoft Announces App Store Principles to “Ensure Fairness” in the Digital Economy
Two days after the U.S. House Antitrust Subcommittee released the results of its investigation into Apple, Amazon, Facebook and Google on October 6, concerning their potential monopolistic control over the digital economy, Microsoft added its voice to the conversation. Notably absent… Read More ›
House Antitrust Subcommittee Sees Need to Restore Competition in the Digital Economy
On October 6, the U.S. House Judiciary Antitrust Subcommittee released a report entitled “Investigation of Competition in the Digital Marketplace,” which sets forth their view that Apple, Amazon, Facebook and Google have been exercising monopolistic control over the digital economy…. Read More ›
‘Too Big to Care’
While speaking to the European Parliament’s Internal Market Committee, Internal Market Chief Thierry Breton recently said that digital platforms may have become “too big to care.” He stated this in the context that they “tend to neglect the consequences of… Read More ›
Technology Law NYC 