Governments are looking into regulating the currently decentralized cryptocurrency space, and that’s a good thing for the market.
So said Fortune senior writer Jen Wieczner.
“I think it’s going to be very good for prices, because you’re going to allow for investment in big companies that have already embraced regulations,” she said in an interview with Cheddar Friday. “I think you have a lot of investors now, especially institutional investors, who are waiting on the sidelines, because they don’t want to be involved in a scam or their compliance department don’t allow them to.”
Mexico was the latest to crack down on money laundering and illegal activities in cryptocurrency. Reuters reported the proposed legislation, which is waiting for approval from President Enrique Peña Nieto, will regulate fintech and promote financial stability in cryptocurrency.
Similarly, the SEC launched a probe into the operations of American tech companies handling crypto this week. The Wall Street Journal reported that the watchdog is looking into the process of Initial Coin Offerings, trying to weigh whether firms have been violating securities laws.
Wieczner said that some companies will not stand up to the scrutiny.
“For some of them, regulation is likely going to completely knock them out,” she said.
Rapper and singer T-Pain is teaming up with Google this holiday season to encourage shoppers to support Black-owned businesses on Black Friday. Stephanie Horton, the director of marketing for Google Shopping, joined Cheddar to provide some details about T-Pain's new song, featuring Normani, in a new shoppable interactive film for the promotion. She also explained how Google worked with local artists in various states to create shoppable murals, where products seen in the artwork are discoverable online by simply pointing your camera at it.
Per a request from the UK singing sensation Adele after her new album "30" dropped on Friday, Spotify removed shuffle play as the default for albums. Adele tweeted about her request to the streaming service, arguing that an album's track sequence is intentional and that the songs should be listened to in that order.
Caleb Silver, the Editor-in-Chief for Investopedia, joined Wake Up With Cheddar to break down the latest in the Activision Blizzard sexual misconduct scandal. After 1,700 of the embattled video game maker's employees signed a petition demanding CEO Bobby Kotick step down, Kotick reportedly said he would step down if he can't turn the toxic workplace culture around quickly. Silver noted that the allegations go back years with settlements and lawsuits that indicate Kotick would have to be claiming ignorance of his own business or deliberately obfuscating his knowledge of what happened under his watch.
In 2022, all 3G networks will shutdown permanently. Sprint will be leading the charge as the first network to go dark on New Year's Day, and the rest will follow shortly thereafter. Ryan Johnston of Next Century Cities joins Cheddar News to discuss the importance of the shutdown, and how users who may be affected can act fast before they're left disconnected.
Jill and Carlo cover the developing story out of suburban Milwaukee, where a speeding SUV careened through a Christmas parade. Looters get more brazen in San Francisco, the missing Chinese tennis star resurfaces, and more.
