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Dems Block Crypto Bill Over Ethics Concerns

Illustration of glowing blue coins above a circuit board (iStock.com/ inkoly)

By Courtney Bublé

The Senate on Tuesday failed to clear a procedural hurdle for the Clarity Act, which was primed to be the first comprehensive federal regulatory framework for digital asset markets, as Democrats said the ethics guardrails were not strong enough.


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Top Stories
  • Purple and white pills spill out of an orange container
    1st Circ. Suggests Appeal In Drug Rebate Case May Be Moot

    By Carolyn Muyskens

    A First Circuit panel raised mootness concerns as it heard arguments Tuesday from drug companies appealing a rul...(read more)

  • The green and white company logo for Grab appears on a smartphone screen before a colorfully illustrated background
    Grab Holdings To Buy 60% Of Atome Financial For $1.5B

    By Al Barbarino

    Singapore-based Grab Holdings Ltd. said Tuesday it has agreed to acquire a controlling 60% equity interest in At...(read more)

  • Meta Beats Proposed Privacy Class Action Over 'Voiceprints'

    By Dorothy Atkins

    A California federal judge tossed on Tuesday a proposed class action claiming Meta's messaging platforms secretly and unlawfully capture Facebook users' "voiceprints" and related biometric information, finding the plaintiff agreed to let Meta use his personal data when he signed up for an account.

  • OpenAI Wants To See Details Of SpaceXAI's Deal With Apple

    By Craig Clough

    OpenAI filed an emergency motion Tuesday in Texas federal court seeking the details of a settlement SpaceXAI inked this week with Apple over claims that Apple's deal to integrate ChatGPT into the iPhone violated antitrust law, saying the terms of the deal may undermine the antitrust allegations SpaceXAI is still pursuing against OpenAI.

  • Meta's Data Collection From DMV Is Invasive, Calif. Drivers Say

    By Bonnie Eslinger

    Golden State drivers seeking to certify two classes over claims that Meta unlawfully obtained information from the state Department of Motor Vehicles' website told a California federal judge Tuesday that they have standing to sue under the Driver's Privacy Protection Act because the collection was invasive, even if it wasn't embarrassing or sensitive.

  • Costco Tequila Buyers Say Agave Certification Isn't Conclusive

    By Rachel Riley

    Tequila buyers who claim Costco falsely labeled Kirkland Signature-brand tequila told a Washington federal judge on Tuesday that a Mexico-based council's certification of the bottles as "100% agave" isn't enough to extinguish their deceptive marketing case against the U.S. retailer.

  • DC Circ. Queries Feds On Immigrant Truck Driver Restrictions

    By Linda Chiem

    D.C. Circuit judges on Tuesday questioned whether the U.S. Department of Transportation reasonably justified the safety rationale for new restrictions on commercial driver's licenses for foreign truckers or whether it disproportionately relied on individuals' immigration status to promulgate an "exclusionary" rule.

  • 8th Circ. Revives Doctor's Suit Over COVID Speech Probes

    By Gianna Ferrarin

    An Eighth Circuit panel on Tuesday revived a doctor's suit seeking an order limiting a Minnesota state medical board's ability to investigate him for his public statements related to the COVID-19 pandemic, finding a district court "set the bar too high" at the dismissal stage.

  • College Sports Overhaul Looms Closer After Senate Vote

    By Alex Lawson

    The U.S. Senate on Tuesday advanced a bill that would impose sweeping regulations on college sports, teeing up a lively legislative debate as the NCAA looks to ward off a wave of antitrust lawsuits.

  • Takeda Can't Decertify Amitiza Class After $885M Jury Loss

    By Matthew Perlman

    A Massachusetts federal court refused Takeda's request to decertify a class of Amitiza buyers, after a jury awarded groups of purchasers a total of $885 million for claims that the drugmaker conspired to delay the launch of a rival generic version of the anti-constipation drug.

  • UMG Says DistroKid Is Copyright-Infringing 'AI-Slop Pipeline'

    By Craig Clough

    UMG Recordings sued music distributor DistroKid in Delaware federal court Tuesday, calling it an "AI-slop pipeline" that uses copyright infringement and deceptive practices to flood popular streaming platforms with mass-generated artificial intelligence content.

  • Springsteen Beats Compensation Suit Over Album Cover

    By Elliot Weld

    A New Jersey appellate court on Tuesday affirmed an order dismissing a suit from the estate of a classic car collector against Bruce Springsteen over compensation from use of a 1967 Pontiac GTO on an album cover, saying it was "abundantly clear" that all elements of hearsay were present to sink the case's only evidence against the musician.

  • FTC Chair Wary Of AI's Dual Push For Regs, Antitrust Shield

    By Bryan Koenig

    Federal Trade Commission Chair Andrew Ferguson cast doubt Tuesday on the sincerity of artificial intelligence companies asking Washington for more safety regulations even as they seek antitrust exemptions so they can agree to AI development limits.

  • 1st Circ. Presses Amex On Merchant Arbitration Rule Change

    By Julie Manganis

    A First Circuit panel on Tuesday pushed back on assertions by American Express that unilateral changes to the terms of its merchant agreement did not invalidate it, as a lower court found last year in denying the card issuer's motion to compel arbitration in a dispute over anti-steering rules.

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Expert Analysis

  • Brandon Cox
    Retailers Must Navigate State Innocent-Seller Law Patchwork
    States' innocent-seller statutes can shield nonmanufacturing retailers from product liability claims to varying degrees, and by buil... (read more)
  • Jennifer Filippazzo
    State AI Safety Laws Raise New Liabilities For Healthcare Cos.
    Healthcare and life science companies using third-party artificial intelligence tools should pay particular attention to the changin... (read more)
  • David O'Neil
    How 'Swap' Fight Underpins Prediction Market Enforcement
    As courts around the country grapple with whether, and under what circumstances, event contracts qualify as swaps, federal enforceme... (read more)
  • Jorge Monroy
    How Rogue AI May Shape Corporate Liability, Responsibility
    Recent artificial intelligence cyber incidents offer a window into how companies deploying autonomous systems should document risk c... (read more)
  • Manny Starr
    Meta Layoff Suit Serves As Early Test Of AI Bias Claims
    A lawsuit in California federal court alleging that Meta's use of artificial intelligence in recent layoffs negatively affected empl... (read more)
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