Technology 

Facebook broke rules, should be regulated: UK lawmakers

LONDON (Reuters) – Facebook intentionally breached data privacy and competition law and should, along with other big tech companies, be subject to a new regulator to protect democracy and citizens’ rights, British lawmakers said on Monday. In a damning report that singled out Facebook CEO Mark Zuckerberg for what it said was a failure of leadership and personal responsibility, the British parliament’s Digital, Culture, Media and Sport Committee said tech firms had proved ineffective in stopping harmful content on their platforms. This included disinformation, attempts by foreign countries to influence…

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Facebook and Google news should be regulated, report says

Image copyright Getty Images A regulator should oversee tech giants like Google and Facebook to ensure their news content is trustworthy, a government-backed report has suggested. The Cairncross Review into the future of the UK news industry said such sites should help users identify fake news and “nudge people towards reading news of high quality”. It also backed tax reliefs to encourage the provision of local journalism. In addition, the report called for a new Institute for Public Interest News. Such a body, it said, could work in a similar…

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‘Wild West’ Bitcoin ‘should be regulated’

Image copyright Getty Images Image caption Cryptocurrencies’ trading prices have been extremely volatile Bitcoin and other digital currencies are a “Wild West industry” and need to be regulated to protect investors, a committee of MPs has urged. Problems include volatile prices, minimal consumer protection and risks of hacking and money-laundering, says the Treasury Committee. The committee said there were no well-functioning crypto-currencies and preferred to call them “crypto-assets”. It urged City watchdog, the Financial Conduct Authority to supervise them. At present, the FCA has no power to regulate either the…

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Technology 

Britain’s ‘Wild West’ crypto market should be regulated, say lawmakers

LONDON (Reuters) – Britain’s cryptocurrency market resembles the Wild West and should be regulated, lawmakers said on Wednesday, urging the government to bring to heel a sector plagued by volatile price swings, vulnerability to hacking and weak consumer protection. FILE PHOTO: A cryptocurrency mining computer is seen in front of bitcoin logo during the annual Computex computer exhibition in Taipei, Taiwan June 5, 2018. REUTERS/Tyrone Siu/File Photo The government’s current approach to the sector is vague and unsustainable, Parliament’s Treasury Committee said in a report, calling for regulation that protects…

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