UK government reveals 'robust' plans to regulate crypto

The UK government has detailed “ambitious” plans to regulate the crypto industry, with proposals on stronger rules for trading platforms, crypto lending, new token issues and more. The goal, it says, is to protect consumers and businesses, while enabling “a new and exciting sector to safely flourish and grow,” it wrote in a press release

Last year saw the fall of FTX, Celsius and other crypto exchanges, along with wildly fluctuating prices for Bitcoin, Ethereum and other cryptocurrencies. As a result, critics in the UK have been calling for new rules that protect consumers from the “crypto wild-west,” as the opposition Labour party’s Tulip Siddiq put it.  

The UK government plans to strengthen rules around the operation of crypto trading firms like FTX, along with other financial intermediaries. The primary aim, it wrote, is to enhance consumer protection and the ability of exchanges to weather storms. As part of that, it’s proposing what it calls a “crypto market abuse regime” that would create rules around money laundering and other illegal schemes. It also plans to strengthen laws around cryptocurrency lending. 

At the same time, the treasury department is introducing a time-limited exemption that would allow designated crypto firms to issue new tokens. Companies registered with the UK’s Financial Conduct Authority (FCA) for anti-money laundering purposes would be allowed to issue coins while the new regulations are written. 

In January 2022, the UK government promised a crackdown on misleading crypto ads, but that now seems quaint given the tumultuous year that followed. At the time, the government figured that around 2.3 million people in the country owned a cryptoasset.

Today’s proposal “delivers on the original policy intention of the measure to promote innovation, enhance consumer protection and ensure that cryptoasset promotions can be held to equivalent standards as promotions of financial services products with similar risk profiles,” the government said. The consultation will close on April 30th, 2023, at which point regulators will review feedback and formulate a response. 

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Boeing completes the last ever delivery of the iconic 747 jumbo jet

The last Boeing 747 to ever be built has changed hands in front of thousands of people who wanted to say goodbye to the iconic widebody plane. Customers, suppliers, celebrities, as well as current and former employees — including the original staff known ass the “Incredibles” who built the first 747 — gathered at the company’s Everett factory to witness Boeing delivering the plane to Atlas Air Worldwide. The event marks the plane’s end of production since it was first built in 1967. 

Boeing revealed back in 2020 that it was going to retire the model in a couple of years after it was done building the last orders for it. The 747 was one of the most famous four-engine widebody jets in the world and revolutionized air travel by doubling passenger capacity and thereby lowering the price of each seat. During the peak of its popularity in 1990, Boeing delivered 70 units in a single year. But like most older technologies, it eventually took a backseat to some of the company’s newer jets, particularly its two-engine planes that can fly the same routes but can use fuel more efficiently. 

As Reuters notes, the company only delivered five 747s in 2022, though the whole program itself produced 1,574 jets. The last planes Boeing delivered, including this one, will be used to transport cargo in the years to come. Yes, we won’t be seeing any new 747 anymore, but Bloomberg says the orders delivered for freighter use could be around until the 2050s. 

Boeing Commercial Airplanes CEO Stan Deal said in a statement:

“This monumental day is a testament to the generations of Boeing employees who brought to life the airplane that ‘shrank the world,’ and revolutionized travel and air cargo as the first widebody. It is fitting to deliver this final 747-8 Freighter to the largest operator of the 747, Atlas Air, where the ‘Queen’ will continue to inspire and empower innovation in air cargo.”

Kim Smith, Boeing’s VP and general manager for the 747 and 767 programs, revealed that the model’s production line shut down as workers finished building different parts for the last plane. Employees who worked on in the factory have now been transferred to other programs or have voluntarily retired. 

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Amazon once again broke labor laws during New York unionization drive, judge rules

Last month, Amazon failed to overturn a Staten Island warehouse’s vote to unionize and now it has taken another loss. A National Labor Relations Board (NLRB) judge has ruled that the the company broke federal labor laws in an effort to push back a unionization drive at that facility and another that voted against the union, The New York Times has reported. Amazon can still appeal the ruling to the NLRB’s Washington board.

Federal administrative judge Benjamin Green ruled that Amazon supervisors unlawfully threatened wage increases and benefits if workers formed a union. The company also violated the law by removing a worker’s post on a digital message board inviting co-workers to sign an Amazon Labor Union petition to make Juneteenth a paid holiday, the judge said. 

Several other complaints by the union were dismissed, however. Those include accusations that Amazon said take-home pay would fall in the case of unionization, and that it promised improvements in an educational subsidy program if workers voted against the union. The union also protested Amazon saying workers would be fired if they formed a union but failed to pay union dues. The latter was not illegal, the judge ruled, and the other complaints were overstated.

Amazon took all that as a positive. “We’re glad that the judge dismissed 19 — nearly all — of the allegations in this case,” said spokesperson Mary Kate Paradis in a statement to the NYT. “The facts continue to show that the teams in our buildings work hard to do the right thing.”

The judge set aside one decision brought by the labor board as to whether employers can force workers to attend anti-union meetings. That puts the ball in the court of the NLRB, which can overturn a 75-year old ruling. “I believe that the NLRB case precedent, which has tolerated such meetings, is at odds with fundamental labor-law principles,” the labor board’s lawyer Jennifer Abruzzo wrote in a memo last year

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Marshall's Middleton Bluetooth speaker is the company's new weatherproof flagship

Marshall already launched a few rugged, weatherproof portable Bluetooth speakers, but so far they’ve been relatively small. That changes today with the launch of the Middleton. It’s still portable enough to chuck into a backpack, but has an IP67 rating, 20+ hours runtime at mid-volume, dual woofers and tweeters pushing out 50-watts of 360-degree sound and moves into the bassier 50hz to 20kHz frequency range. It’s available in black starting today and priced at $300.

The Middleton is being pitched as the new flagship for Marshall’s portable Bluetooth speaker line and rightly so. Aside from the Tufton, which isn’t all that rugged and is significantly bigger, the Middleton is now one of the more powerful portables in the company’s stable. It’s the largest IP67 rated speaker they have on offer, measuring 4.3 x 9 x 3.75 inches, and one of the first to pump out sound from all four sides. It also ditches the rubber port stopper seen on other models, since the company has already waterproofed the components.

As mentioned, the Middleton is rated for more than 20 hours of playtime on a single charge, at low to mid volume of course. I haven’t had the chance to test this on full blast for long periods of time, but the charge does seem to hold up well. The speaker has three battery cells totaling 9,600mAh, and you can use the speaker as a USB-C power bank if needed. Also, if your charge is running low while you’re jamming out, you can always use it while its charging.

The 360-degree sound is driven by two 15-watt woofers, two 10-watt tweeters and a pair of passive radiators that serve to pump music out of the smaller ends of this chunky rectangle. The output from this four-pound device is respectable and it handles low frequencies well. You also get the trademark Marshall sound that gives you a good dynamic range and provides significant depth to whatever sounds you’re vibing on.

Just like the Emberton and Willen, the Middleton has a soft-touch exterior composed of 55-percent post-consumer recycled plastic and is 100-percent PVC free. It also has a carry strap you can easily fit your hand through. On the top, you’ll find onboard controls that provide more hands-on adjustment than its siblings. There’s a Bluetooth button (which doubles as the Stack Mode control) and a multi-use joystick for power on/off, volume control and track selection (forward or back). You also get bass and treble controls, which are a welcome addition and a first for one of Marshall’s speakers without physical knobs. The level indicator works in conjunction with most of the above. It displays battery level, but also indicates volume, bass and treble levels all with backlit red lighting.

This speaker is also the biggest model to support Marshall’s Stack Mode feature. You can start a session using the Marshall Bluetooth app and pair with any other Middleton, Emberton II or Willen speakers using a double press of their Bluetooth buttons to join. It helps if you aren’t already paired with speakers joining the session. Like most Bluetooth portables, two (or more) sound much better than one and a double dose of the Middleton sound is a pleasure. The company claims you can pair a good deal of compatible speakers together, having tested up to 60 at one time. I’ve “stacked” two Middletons, an Emberton II and a Willen which worked well — once I unpaired all but the main speaker from my phone, that is.

For reference, the UE Megaboom 3 ($200) and JBL Charge 5 ($180) are good models for comparison in terms of scale, although they all have unique sound profiles. As usual, this puts the Middleton in a slightly higher price bracket than some others out there in its size, but Marshall products have usually been priced at a slight premium. The excellent sound quality and decent low-end capability definitely makes this model worth checking out.

You can order the Marshall Middleton in black from the company’s website starting today for $300. If you prefer the cream-colored option, you’ll have to wait until around Spring this year.

Specifications

  • Frequency Range: 50Hz-20kHz

  • Drivers: Two 15-watt woofers, two 3/5-inch tweeters, two passive radiators

  • Amplifiers: Two 20-watt class D amps for the woofers, Two 10-watt class D amps for the tweeters

  • Battery Type: Built-in rechargeable Li-ion 

  • Power Bank: Charge devices from the speaker with USB-C

  • Play Time: 20+ hours

  • Quick Charging: 20 minutes gives you two hours of play

  • Charging Time: 4.5 hours for a complete charge

  • Weatherproof: IP67

  • Aux: 3.5mm input

  • Bluetooth Version: 5.1

  • Range: 30 feet

  • Size: 4.29 x 9.06 x 3.74 inches

  • Weight: 4LBs

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Google Fi warns customers that their data has been compromised

Google has notified customers of its Fi mobile virtual network operator (MVNO) service that hackers were able to access some of their information, according to TechCrunch. The tech giant said the bad actors infiltrated a third-party system used for customer support at Fi’s primary network provider. While Google didn’t name the provider outright, Fi relies on US Cellular and T-Mobile for connectivity. If you’ll recall, the latter admitted in mid-January that hackers had been taking data from its systems since November last year.

T-Mobile said the attackers got away with the information of around 37 million postpaid and prepaid customers before it discovered and contained the issue. Back then, the carrier insisted that no passwords, payment information and social security numbers were stolen. Google Fi is saying the same thing, adding that no PINs or text message/call contents were taken, as well. The hackers only apparently had access to users’ phone numbers, account status, SMS card serial numbers and some service plan information, like international roaming. 

Google reportedly told most users that they didn’t have to do anything and that it’s still working with Fi’s network provider to “identify and implement measures to secure the data on that third-party system and notify everyone potentially impacted.” That said, at least one customer claimed having more serious issues than most because of the breach. They shared a part of Google’s supposed email to them on Reddit, telling them that that their “mobile phone service was transferred from [their] SIM card to another SIM card” for almost two hours on January 1st. 

The customer said they received password reset notifications from Outlook, their crypto wallet account and two-factor authenticator Authy that day. They sent logs to 9to5Google to prove that the attackers had used their number to receive text messages that allowed them to access those accounts. Based on their Fi text history, the bad actors started resetting passwords and requesting two-factor authentication codes via SMS within one minute of transferring their SIM card. The customer was reportedly only able regain control of their accounts after turning network access on their iPhone off and back on, though it’s unclear if that’s what solved the issue. We’ve reached out to Google for a statement regarding the customers’ SIM swapping claim and will update this post when we hear back. 

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