Regulation

The Double-Edged Promise of Cryptocurrency: How Innovation Creates New Vulnerabilities and How Government Oversight Can Reduce Crypto Crime

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The Double-Edged Promise of Cryptocurrency: How Innovation Creates New Vulnerabilities and How Government Oversight Can Reduce Crypto Crime

By Jason H. Meuse, University of Maine School of Law, Class of 2023

Abstract

The fallout from the FTX fraud scheme brought the dangers of crypto front-and-center. Not only did FTX perpetrate a massive fraud, but its fall exposed the cryptocurrency exchange to hacking resulting in the theft of over $477 million in crypto assets. This theft is not isolated to FTX; by October 2022, hackers had already stolen over $3 billion. In addition, new organizational structure and technology in the crypto industry has introduced new vulnerabilities. Cryptocurrency exchanges, decentralized exchanges, and cross-chain bridges are prime targets for hackers to both steal and launder crypto assets. Part of the reason these technologies leave assets vulnerable is that they undermine a central premise of crypto: a currency system accountable to users within a closed ecosystem. While the industry has responded by increasing its security standards and procedures, its anti-government attitude has inhibited cooperation with government that could make the crypto marketplace even more secure. Many firms are incorporated outside of U.S. jurisdiction, lightening the compliance burden at the cost of security. However, establishing industry security standards and cooperating with the government can lead to higher security and greater consumer confidence.

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Revenge Porn: The Result of a Lack of Privacy in an Internet-Based Society

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By Shelbie Marie Mora, Class of 2023

I. Introduction

 Nonconsensual pornography, also referred to as revenge porn, is “the distribution of sexual or pornographic images of individuals without their consent.”[1] Forty-six U.S. states, the District of Columbia, and the U.S. territory of Puerto Rico have adopted revenge porn laws. However, there is no federal law in place that prohibits revenge porn. Several countries around the world have chosen to adopt revenge porn statutes to protect individuals’ privacy rights and prevent emotional and financial harm. Revenge porn is primarily a large issue for women given that they are overwhelmingly the target of it.[2] Major ramifications can amount to victims who have had their intimate images posted online without their consent.

In this paper, I will discuss the rise of revenge porn websites, examine Texas and Vermont’s revenge porn statutes, review case law for each state, and analyze the detriments that the holdings pose to victims of revenge porn. I will next examine Australia, Puerto Rico, and Canada’s revenge porn laws and the penalties imposed for offenders. Lastly, I will assess a failed proposed federal revenge porn law in the United States, discuss where the U.S. falls short on federal legislation, and propose remedies to help protect the privacy of individuals. The United States falls short in revenge porn legislation and must pass a federal law to promote and protect the privacy of Americans and deter this crime.

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Disclosure of Teen’s Facebook Messages Should be a Red Flag for Us All

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By Will Simpson, Class of 2025

Amidst the fallout of the Supreme Court’s decision on June 24, 2022, to overturn the cornerstone abortion case of 1973, Roe v. Wade, a privacy issue has surfaced: the extent to which digital data can be used against us to prosecute novel forms of criminalized behaviors. To make matters worse, tech giants such as Facebook and Google—who collect and largely control this data—are legally obligated to assist governments with this invasive practice.

Why should we care? While the Fourth Amendment helps protect Americans against unreasonable searches and seizures by the government, private companies are not restricted from archiving our digital data. As a result, the details of our online lives are preserved for potential access by government warrants. Continue reading →

Leaning into CHAOS (Child’s Health and Online Safety Act): Revision to FTC’s Enforcement of COPPA & New Model Rule for Child Advertising

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By Gabrielle Schwartz, Class of 2023

I. Introduction

A wise author once wrote, “I know, up top you are seeing great sights, but down here at the bottom we, too, should have rights.”[1] Dr. Suess not only understood the importance of inspiring children but believed it was essential to teach children valuable life lessons. As more children continue to stray away from reading as their source of entertainment, children are more likely to become fascinated by the beauty of the internet. Although the internet’s capabilities may positively impact children, there are also adverse effects through the use of the internet’s products, services, and content. Many companies, individuals (such as parents), and lawmakers are calling for action to be taken to prevent and protect against arguably toxic online content.

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