August 9, 2017 nº 1,893 - Vol. 14
"It takes as much energy to wish as it does to plan."
Eleanor Roosevelt
Read Migalhas LatinoAmérica in Spanish every Tuesday and Thursday. Visit the website at la.migalhas.com
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Despite S.E.C. warning, wave of initial coin offerings grows
The cautionary words of American regulators have done little to chill a red-hot market for new virtual currencies sold by start-ups. The Securities and Exchange Commission late last month issued its first warning for the many entrepreneurs who have been raising money by creating and selling their own virtual currencies in what are called initial coin offerings. At that point, hundreds of projects had raised more than $1 billion. Yet even after the commission said it was looking closely at projects that may violate its rules, programmers are still embarking on new offerings at a torrid pace. Most of the offerings have little legal oversight and some appear to conflict with the commission's basic advice. For investors, the most immediate risk is less likely to be the regulators, and more likely to be the many projects that are proceeding without a credible plan for putting out successful software — something that many sophisticated investors have warned about. Many coin offerings have also had security vulnerabilities that have led to big losses for investors. The agency said that it would focus on coins that should be categorized as securities. People selling securities to American investors are generally required to register themselves and their investments with the securities regulator. So far, almost none of the coins being sold to investors have been registered with regulators.
1- Netflix buys comics publisher Millarworld. (Click here)
2- Chicago sues Trump administration over sanctuary city plan. (Click here)
3 - Iran's Rouhani appoints female vice-presidents after criticism. (Click here)
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China holds drill to shut down 'harmful' websites
China has carried out an internet drill to practice closing down websites the authorities consider to be harmful. State run media said Thursday's exercise was also aimed at forcing internet data centers to hand over contact details of website owners. China already operates a strict internet censorship regime. Analysts say it appears to be tightening controls ahead of an important political meeting later this year.
Strong Yuan could open door to relaxing currency curbs
China's foreign exchange reserves have stabilized and capital flight has been stemmed. And Beijing wants to attract more foreign money into its stocks and bonds.
China enforces first action under developing cyber security law
China’s Cyber Security Law went into effect on June 1. We have now seen the first enforcement action under the Law. Chongqing’s Public Security Bureau issued a warning to a local Internet data center company for failure to preserve a blog. The company was ordered to rectify that deficiency within 15 days. While this is a small violation, it marks the first enforcement action under the Law. Chongqing’s PSB has said it will strengthen monitoring and inspection efforts as to the implementation of tiered protection, real-name authentication, and infringement on personal information.
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Solo quiere pagar
La brasileña Odebrecht confirmó que solo quiere pagar el Estado peruano por reparación civil alrededor de US$ 60 mlls, monto que fue considerado "un pago irrisorio" por la ahora exprocuradora del caso Lava Jato, Katherine Ampuero, cuando reveló que eso es lo que la empresa ofreció pagar. (Presione aquí)
Custódia
La Corte Suprema chilena, por primera vez, ha concedido la custodia de sus hijos a su padre homosexual que convive con su pareja. El mismo tribunal negó hace 13 años el mismo derecho a una madre lesbiana. (Presione aquí)
Trump emphasizes tough law enforcement in comments on opioid epidemic
Trump emphasized the need for stepped-up law enforcement to combat the nation’s opioid problem, an approach that is at odds with a report released last week by the special commission he appointed to address abuse. "Strong law enforcement is absolutely vital to having a drug-free society," Trump said. "I have had the opportunity to hear from many on the front lines of the opioid epidemic, and I'm confident that by working with our healthcare and law enforcement experts we will fight this deadly epidemic and the United States will win." He also sought to cast blame on the previous administration for the worsening of the opioid problem.
US military to shoot down consumer drones
The Pentagon has given US military bases permission to shoot down or otherwise destroy consumer drones flying overhead and nearby. A spokesman revealed that guidance was issued on 4 August. He said the exact terms of the policy were classified. The move comes days after the US Army ordered its own troops to stop using drones made by Chinese manufacturer DJI because of alleged "cyber-vulnerabilities". US-based hobbyists will own more than 3.5 million drones by 2021, and that there could be a further 1.6 million commercial models in operation. The technology's growing popularity has raised privacy and safety concerns. (Click here)
Georgetown Law will drop requirement for LSAT scores
In March, Harvard Law School announced that it would change admissions procedures and stop requiring the Law School Admission Test. Months later, another highly ranked law school is following suit. Georgetown University Law Center said that it will start accepting the Graduate Record Examination as well as the LSAT. Prospective students for the 2018 entering class will be able to submit scores from either or both tests. "While the LSAT remains an important admissions tool, we also believe that it is well past time that the legal profession open wide the doors to an even more diverse population that better reflects American society as a whole," Dean of Admissions Andy Cornblatt said. "We think that allowing the use of the GRE will help us to accomplish that goal."
North Korea says considering missile strike on Guam
North Korea's military is "examining the operational plan" to strike areas around Guam with medium-to-long-range strategic ballistic missiles. The report came hours after President Donald Trump threatened North Korea with "fire and fury like the world has never seen.".The North's official news agency said it was considering a plan to fire medium-to-long-range rockets at Guam, where US strategic bombers are based. The exchanges marks a sharp rise in rhetoric between the two countries.
'El Chapo' Guzman hires top defence legal team
Mexican drug lord Joaquin "El Chapo" Guzman has hired a team of top defense lawyers in his fight against a US criminal case. They include Jeffrey Lichtman and Marc Fernich, best known for their successful defense of the son of New York mafia boss John Gotti. Guzman has pleaded not guilty to charges that he ran the world's largest drug-trafficking organization. He faces life in a US prison if convicted. Lichtman said it was too early to speculate on a defense strategy. "We simply hope to have the chance to give Guzman a zealous defense and the chance to challenge the numerous co-operating criminals who will all be seeking to use him as their Get Out of Jail Free cards," he said.
Google reportedly fires employee who slammed diversity efforts
In a 3,300-word document that has been shared across Google's internal networks and beyond, an engineer at the company said "biological causes" are part of the reason women aren't represented equally. The fired engineer is likely to face significant hurdles in any legal action against his ex-employer, experts say.
Federal judge allows lawsuit over CIA interrogation techniques to proceed
A judge for the US District Court for the Eastern District of Washington on Monday denied a motion for summary judgment filed by two psychologists who devised the torture techniques used on three former CIA prisoners, allowing the case to proceed to trial. The American Civil Liberties Union filed the lawsuit in 2015 against psychologists James Mitchell and John "Bruce" Jessen, who allegedly designed and persuaded the CIA to adopt their torture techniques as official practice of the CIA. In rejecting the both the plaintiffs' and defendants' motions for summary judgment, Judge Justin Quackenbush wrote, "neither side has demonstrated judgment as a matter of law is appropriate." The case is scheduled to go to trial September 5. (Click here)
Mauritania votes in referendum to abolish senate
Mauritania conducted a referendum on Saturday to abolish the senate and to change the national flag. President Mohamed Ould Abdel Aziz applauded the vote and and said the move to abolish the governing body would improve governance by introducing more local forms of lawmaking. Opposition to the president's administration boycotted the vote and said that the referendum would give the president too much power, allowing him to extend the number of terms he is allowed to remain in office under the Mauritania constitution. (Click here)
Hedge fund sues to have Puerto Rico's bankruptcy case thrown out
The fund, Aurelius Capital, argued that the federal oversight board guiding the island's financial affairs was unconstitutionally established.
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