Chinese telecommunications firm Huawei is suing the United States government to overturn a provision in a recent defense bill that bars federal agencies from contracting with Huawei or from making contract awards, grants or loans to companies that use Huawei gear and services. The lawsuit alleges that Congress exceeded its constitutional authority in passing a bill that expressly bars Huawei from federal markets and indeed much of the U.S. market without an opportunity for judicial review. Huawei's suit was filed March 6 in the U.S. District Court for the Eastern District of Texas. Huawei argues in its complaint that Congress was determined to put the company out of business in the U.S. market despite existing legislation on supply chain risk that doesn't single out countries of origin or suppliers by name.
Commodity Futures Trading Commission Chairman Christopher Giancarlo said he has no plans for new regulation in the cryptocurrency space. "It is frequently tempting to apply a paternalistic hand on markets in order to steer them in desired directions or eliminate all risk -- a truly futile exercise," Giancarlo said In a March 6 speech. Sara Friedman at GCN has more.
Posted on Mar 11, 2019 at 1:01 AM