New antitrust legislation aims to put an end to tech monopolies in the US
The era of tech giants buying up their up-and-coming competitors will be over if these senators get their way. The Senate sees new legislation aiming to update antitrust laws for new technologies.Senator and former candidate for the Democratic presidential nomination Amy Klobuchar is introducing the Competition and Antitrust Law Enforcement Reform Act today, Cointelegraph has learned.Sen. Klobuchar, who heads the Senate Antitrust Subcommittee, is looking to put new burdens on companies seeking to acquire competitors. An announcement of the bill noted that it aims to "Shift the burden to....
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Gearing up for new battles against data-driven monopolies, antitrust enforcers may well look to blockchain as a way of getting honest data from companies they don't trust. Competition authorities are hitting the books when it comes to emerging technologies like blockchain and AI. On Tuesday, the Department of Justice announced that it would be participating in a new initiative at Stanford University to onboard more advanced technological tools into its fight against monopolies. The DoJ is merely the most vocal addition to Standord’s Computational Antitrust project. It joins the competition....
The CEO of the Nasdaq-listed cryptocurrency exchange Coinbase, Brian Armstrong, says Apple has not played nice with crypto, noting that the tech giant has banned a bunch of crypto features in its App Store. Apple’s anti-crypto policy raises “potential antitrust issues,” said the Coinbase executive. Potential Antitrust Issues Coinbase CEO Brian Armstrong talked about Apple’s crypto policy in an episode of the Superteam podcast, which aired last week. Superteam is a podcast that explores the web3 ecosystem in India. Commenting on Apple’s anti-crypto....
The Justice Department's November 2020 suit has reversed the planned merger. The United States Department of Justice saw a victory in a major fintech acquisition case that could set the stage for a host of antitrust enforcements.On Tuesday, the DoJ announced that Visa and Plaid had called it quits on their planned merger. Originally announced almost exactly a year ago, Visa was planning to pay $5.3 billion for the upstart tech firm. Plaid's ubiquitous software is designed to connect disparate systems of financial data securely. In its November 2020 complaint, the DoJ alleged that Visa was....
The author of “Goliath” gives his take on the history of American antitrust politics and what it means for the just-announced Google case.
The Antitrust Subcommittee looks for new legal tools to rein in Apple, Amazon, Facebook and Google — a clear opening for tech tools built to decentralize. On Tuesday, a House subcommittee put out a massive report that places Big Tech in the crosshairs of major antitrust reforms.The four firms at the center of the report — Apple, Google, Facebook and Amazon — have been in hot water with Congress for some time. But while the tone of the recent conversation is punitive towards those firms, it also seems to envision a broader shift to new rules that would stop tech from this level of....