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Federal Reserve Governor Michelle Bowman recently expressed skepticism about the unique benefits of a U.S. CBDC over other financial alternatives at a Harvard Law School roundtable discussion. During a recent roundtable discussion at Harvard Law School, Federal Reserve Governor Michelle Bowman voiced her skepticism regarding the practicality of a U.S. central bank digital currency (CBDC). She expressed doubts over whether a CBDC could offer solutions to financial issues any more effectively than current alternatives, such as FedNow. CBDCs have been touted by their advocates for their potential benefits, particularly in terms of financial inclusion and mitigating challenges within the payment system. Yet, Bowman remains unconvinced, arguing that these touted advantages may not be exclusive to CBDCs. “These are all important issues. I have yet to see a compelling argument that a U.S. CBDC could solve any of these problems more effectively or efficiently than alternatives, or wit...

The policy clarification stated that participants cannot make threats, use extortion, or access customer data beyond what is accidental or occurs in good faith. In a blog post on November 30, Coinbase sought to clarify its bug bounty program policies in response to the recent Uber data breach verdict. The company stated that it still welcomes “responsible” disclosure of security issues, but users who abuse this process will not be awarded bug bounties: “The key word in all of this is ‘responsible’. In the wake of the recent Uber verdict, there is a lot of concern in the industry about bug bounty submissions becoming extortion attempts. At Coinbase, [...] we’ve put a lot of thought into how we operate our bug bounty program to stay on the right side of the law.” The official Coinbase bug bounty reporting page at HackerOne The verdict Coinbase was referring to was issued on October 5. Joe Sullivan, former Uber security chief, was found guilty of colluding with attackers to cover up ev...