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    U.S. Senate Republicans put Biden on notice over debt ceiling

    WASHINGTON (Reuters) – Two dozen U.S. Senate Republicans warned Democratic President Joe Biden on Friday that they would not support increasing the federal debt ceiling without at least an equal amount of spending cuts to government programs or structural reform. In a Jan. 27 letter, lawmakers supported legislation to require the U.S. Treasury to prioritize payments for the public debt, Social Security, Medicare, veterans benefits and military pay, if the government were to breach the current $31.4 trillion borrowing limit in coming months. The lawmakers represent nearly half of the Senate’s 49 Republicans. A debt ceiling increase would require support from nine Republicans, 48 Democrats and three independents who caucus with Democrats to meet the Senate’s 60-vote filibuster rule for most legislation.The one-page letter surfaced a day after Biden characterized Republicans as a party of “chaos and catastrophe” while criticizing their refusal to approve a debt ceiling increase without spending cuts. The White House, which has repeatedly voiced opposition to debt ceiling negotiations, was not immediately available for comment. The federal government neared its congressionally imposed $31.4 trillion borrowing limit on Jan. 19, and the Treasury Department warned it may not be able to pay bills past early June, at which point the world’s biggest economy could be at risk for default.”It is the policy of the Senate Republican conference that any increase in the debt ceiling must be accompanied by cuts in federal spending of an equal or greater amount as the debt ceiling increase, or meaningful structural reform,” said the letter led by staunch conservative Senator Mike Lee of Utah. “We do not intend to vote for a debt-ceiling increase without structural reforms,” added the lawmakers, who included Senate Republican Conference Chairman John Barrasso.Lawmakers often use the term structural reform to refer to changes in Social Security and Medicare, respectively the U.S. retirement and healthcare programs for the elderly. But the senators cited debt prioritization legislation as an acceptable reform. Such legislation, which hardline Republicans in the House of Representatives support, would direct the Treasury to make debt payments to avoid default and maintain benefits for the elderly, veterans and the military. Other federal programs could shut down.The policy language used in the letter was part of a Senate Republican rules package adopted during the last Congress, according to a party conference spokesperson. Brinkmanship could panic investors, potentially sending markets slumping and shaking the global economy. In 2011, a protracted debt-ceiling battle led to a downgrading of U.S. creditworthiness and years of forced domestic and military spending cuts.On Tuesday, Senate Republican leader Mitch McConnell said any solution to the debt ceiling debate would have to come from talks between Biden and House of Representatives Speaker Kevin McCarthy. Republicans control the House by a narrow margin, while the Senate is led by Democrats. Biden and McCarthy have agreed to meet but nothing has been scheduled.It was not clear whether the Senate Republicans notified McCarthy about their letter ahead of time. Neither McCarthy’s office nor Lee’s was immediately available for comment. More

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    Twitter research group stall complicates compliance with new EU law

    (Reuters) – The stalling of a Twitter program that was critical for outside researchers studying disinformation campaigns throws into question the company’s strategy to comply with upcoming regulation in Europe, former employees and experts told Reuters.The European Union’s new Digital Services Act (DSA), one of the world’s strictest regulations on internet platforms, has sent tech companies scrambling to meet its requirements on having measures in place against illegal content and explaining the steps they take on content moderation, before the law comes into full effect in early 2024. Twitter signed a voluntary agreement in June with the EU related to the DSA committing to “empowering the research community” through means including sharing datasets about disinformation with researchers. The EU’s goal with the law is to create a safer internet for users and have a mechanism to hold companies accountable.According to Yoel Roth, Twitter’s former head of trust and safety, the Twitter Moderation Research Consortium was a key part of Twitter’s plan to do that, since it compiled data on state-backed manipulation of the platform and provided that to researchers. “Twitter was uniquely well-positioned,” he said.Nearly all of the 10 to 15 employees who worked on the consortium have left the company since Elon Musk’s takeover in October, according to Roth, who resigned in November, and three other former employees who were involved with the program. The EU law would require platforms with over 45 million EU users to respond to EU-vetted researcher proposals.Failure to comply with the DSA once it comes into effect could lead to fines of up to 6% of global revenue or even a ban from operating in the EU, according to the European Commission website. Reuters was unable to determine if Twitter has made alternative plans to comply with the DSA.In an email, Twitter’s head of trust and safety, Ella Irwin, said: “We intend to fully comply with the DSA, have many employees working on DSA compliance internally and have communicated our intent to comply to (EU Commissioner Thierry) Breton and his team.” She did not comment on detailed questions about the status of the consortium, how many employees were working on it, or how Twitter planned to comply with the DSA.Breton has met at least twice with Musk to discuss Twitter’s intent to comply with the upcoming law. In November, Breton said Twitter had “huge work ahead” because the company will have to “tackle disinformation with resolve” and significantly reinforce content moderation. In May, Musk appeared in a video with Breton expressing agreement with the Digital Services Act. Breton’s spokesperson declined to comment for this story. Across the company, at least 5,000 staff (about two thirds of the total before the takeover) have either quit or been fired as Musk overhauls Twitter, hitting the trust and safety and public policy teams particularly hard. “I just don’t see how the absolutely skeletal staff … will be able to readily comply (with the DSA),” said Rebekah Tromble, director of the Institute for Data, Democracy and Politics at George Washington University.THE WORK OF THE CONSORTIUMThe research consortium was formed in response to backlash against Russian interference in the 2016 U.S. presidential election. According to the company’s website, its aim is “to increase transparency around Twitter’s content moderation policies and enforcement decisions.”Twitter prohibits people, organizations or governments from manipulating conversation on the service, such as using multiple or fake accounts to make content appear more popular.Early last year, Twitter launched a pilot version of the consortium to disclose examples of manipulation of the platform to some outside researchers.As Twitter investigated and took down accounts that were suspected of foreign interference, it released data on that to the researchers to help them study the misinformation strategies and where they originated.In September, Twitter opened an application process to expand the consortium and had accepted about 50 researchers by the time of Musk’s acquisition on Oct. 27, two of the former employees said.Twitter had been preparing to disclose at least a dozen new datasets to researchers before then, the former employees said.Of the three former Twitter employees, who asked not to be identified for fear of reprisals, one spoke with current employees recently and was told they do not have the personnel or bandwidth to continue working on the consortium.Five outside researchers told Reuters that without a program like the research consortium, it will be more difficult to study how governments use Twitter to interfere with elections or political events globally.Two of those who are members of the consortium said Twitter has not sent a memo to close the program formally and previously-released data remain available to them, but they had not received data from it in at least two months.The research consortium was an important tool to make the internet safer, according to two U.S. lawmakers who introduced a bill last year that would require social media platforms to provide data access to academic researchers. Their Digital Services Oversight and Safety Act has not been voted on.Rep. Lori Trahan of Massachusetts and Rep. Sean Casten of Illinois also wrote an open letter to Twitter on Nov. 18 asking whether Twitter would maintain the consortium, following layoffs that halved the staff.Asked about the consortium by Reuters this month, Trahan said failure to maintain the program would be “a massive step back.” The Stanford Internet Observatory, a consortium member that studies internet risks, said it has not received any communication from the program since mid-November and no longer has a point of contact at Twitter.The Stanford team has published at least three papers using data from the consortium, including one about Twitter accounts that promoted India’s military activities in Kashmir, and one on U.S.-linked attempts to spread pro-Western narratives abroad.If the research consortium is eliminated, “we will be returning to the 2017 era of limited shared communication about malicious state actor activity,” said Renée DiResta, research manager at Stanford Internet Observatory.Cazadores de Fake News, a Venezuela-based consortium member that fact checks online news, told Reuters the research program “seems to have fallen into a hiatus,” and the organization has not heard from Twitter since Musk’s acquisition. “But we hope that it will resurface at some point, as it is a very valuable initiative,” said spokesperson Adrian Gonzalez. 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    Opinion: 3 tips for trading Ethereum this year

    Despite the uncertainty, there are sometimes still strategies you can use to trade certain tokens successfully. Ether (ETH) is arguably where you might be able to succeed this year. Here are three tips that might help.Continue Reading on Coin Telegraph More