Visa, Mastercard, and a handful of other companies have followed in the footsteps of PayPal, abandoning the Facebook-led Libra Association amid harsh regulatory criticism surrounding the planned cryptocurrency offering.
Facebook CEO Mark Zuckerberg will testify before the House Financial Services Committee on Oct. 23 regarding his company’s planned venture into the cryptocurrency space.
PayPal leaving Facebook’s Libra project is just a bump in the road in the drive toward developing a global digital currency payments network, a Libra Association spokesperson says.
Facebook announced it has suspended “tens of thousands” of apps as part of an investigation launched in the aftermath of last year’s Cambridge Analytica scandal.
Facebook CEO Mark Zuckerberg met with about a half dozen senators at a dinner this week before visiting the White House to meet with President Trump. The key focus of the visit: discussing the future of internet regulation.
The New York Attorney General’s office is leading a multistate investigation into social media giant Facebook for potential antitrust issues.
Data privacy compliance and national security seem to be in opposition—with one coming at the expense of the other. It’s time to instead focus the conversation on identifying opportunities for the private sector and government to collaborate.
The ruling of a federal appeals court has Facebook once again at risk of facing fines north of $1 billion for alleged misuse of users’ biometric data.
Data privacy leaders from the United States, United Kingdom, European Union, and Canada are among a group to come together and voice their concerns over Facebook’s planned venture into the cryptocurrency space with Libra.
Facebook recently acknowledged in a filing with the SEC that there can be no assurance its planned Libra offering “will be made available in a timely manner, or at all.”
As tech companies grow to dominance, do they pose a competitive hardship to rivals left in their wake? The Justice Department wants to know.
Regulations put broker-dealers squarely in the spotlight of various risks and responsibilities. FINRA and the SEC govern marketing communications and advertising practices when communicating with the public. Additionally, the cybersecurity threat landscape is evolving and is one of the primary operational risk’s firms face today.
The compliance aspects of what will be expected of Facebook going forward were fair enough, but a lack of personal liability has us questioning the settlement.
The FTC hit Facebook with a ground-breaking $5 billion penalty for privacy violations, but the bigger takeaway for CCOs is the unprecedented new privacy and corporate governance obligations the company must implement.
In addition to its record-breaking FTC fine, Facebook on Wednesday reached a $100 million settlement with the SEC for making misleading disclosures regarding the risk of misuse of its user data.
A plan by Facebook to enter the world of virtual currency is attracting predictable skepticism in Washington. It could also expedite the slow emergence of national data protection laws.
The FTC, by dragging its feet and keeping silent on a massive Facebook fine, raises concerns about its potential role as top cop on the data privacy beat.
The social media company is hardly quiet about its crypto initiative, but nevertheless failed to see the materiality of creating a global payments system.
Count Federal Reserve Chairman Jerome Powell and several members of Congress as concerned observers of Facebook’s planned foray into the world of virtual currency.
The CMA, U.K.’s competition watchdog, explores whether a separate regulator is needed to oversee leading digital firms that have become “data monopolies” that stifle competition.
Amid growing antitrust scrutiny and data privacy complaints, Facebook is nevertheless expanding into the cryptocurrency space.
Social communication is no longer optional—even for businesses. Clients expect to engage with businesses on social media, and the most successful firms are delivering on that expectation. But as your digital presence grows, so does your exposure to risk.
European privacy rights groups have launched a campaign to stop social media platforms and internet search engines from “spying” on users through online advertising by filing GDPR complaints with nine EU data regulators.
The FTC has removed dating apps from Apple’s App Store and Google’s Google Play Store following allegations they allowed children as young as 12 to access them.
A new proposal to combat Tesla CEO Elon Musk’s bad behavior has some at the SEC shaking their heads after Musk breached last year’s SEC agreement.
The European Data Protection Supervisor is warning social media and tech companies that their consumer terms and conditions may soon come under increased scrutiny if they fail to comply with the agency’s rules.
Facebook has appointed both a new general counsel and a vice president of communications as the social media giant faces mounting regulatory and public scrutiny—mostly around its privacy practices.