Computer scientists and academics pursue efforts to stop crypto lobbying in US
Harvard lecturer Bruce Schneier said in a report that blockchain is not secure and not really decentralized. Anti-crypto technology experts urged United States lawmakers to resist the influence of pro-crypto lobbying efforts. Bruce Schneier, a lecturer at Harvard, reportedly said that blockchain advocates's claims are "not true." He added that the technology is not secure and not really decentralized. According to Schneier, systems where you can "lose your life savings" when you forget your password is “not a safe system.” Along with other computer scientists and academics, Schneier signed....
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Some computer scientists say quantum computers are moving closer to reality and will cripple bitcoin’s encryption systems and doom bitcoin. Governments are investing aggressively in quantum computers, which are ultra powerful. Quantum computers, first theorized by physicist Richard Feynman in 1982, have promised a new era of computing. The theory has only recently translated into significant real-world advances, with NASA, the CIA and Google working on a quantum computer. Computer scientists now warn the machines will cripple existing encryption methods and destroy bitcoin’s technological....
The US Securities and Exchange Commission (SEC) has passed through pressures from the legislative arm; the tension increased as the SEC devised measures for crypto regulations earning displeasure from different people, especially the lawmakers. The lawmakers are now scrutinizing the watchdog. Also, they’ve noted the increasing lobbying activities from the crypto space in the past […]
Much like other activity in the digital asset space, crypto lobbying has been picking up during the past year. Interaction between the cryptocurrency industry and Capitol Hill is becoming ever more intensive as efforts to regulate crypto grow in tandem with its popularity. The surge in crypto industry lobbying last year was given some concrete parameters in February by crypto analytics startup Crypto Head. It released a report showing that the crypto companies that spent the most money on lobbying in 2021 were Robinhood, Ripple Labs, Coinbase and the Blockchain Association. These....
Ripple Labs spent the most on crypto lobbying in the U.S. over the past five years, with expenses totaling $2 million. Cryptocurrency advocates in the United States have been increasingly putting efforts to support the industry, with crypto lobbying spending growing significantly in recent years.Crypto-related lobbying expenditure in the U.S. totaled at $4.9 million in 2021, more than doubling from $2.3 million in the previous year, according to a new study by the crypto analytics startup Cryptohead.io. The study is based on lobbying tracking data obtained from research and government....
Bitcoin has many things going for it, relative to the current fiat currency system, and compared to any other digital currency on the market. Bitcoin is not perfect, though, and there are issues that many critics and users, would like to see improved before it can become a mainstream staple of global economics. One issue that is commonly mentioned is the pseudonymous nature, in that transaction can be traced, but anyone savvy enough, back to their originators. Governments like to be able to trace everything any person does. Many owners would like more privacy to be available, as every....