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The next front is rapidly emerging in the struggle between supporters and opponents of legal abortion, and that escalating conflict is increasing the chances that the issue will shape the 2024 election as it did last Novembers midterm contest.

President Joe Biden triggered the new confrontation with a flurry of recent moves to expand access to the drugs used in medication abortions, which now account for more than half of all abortions performed in the United States. Medication abortion involves two drugs: mifepristone followed by misoprostol (which is also used to prevent stomach ulcers). Although abortion opponents question the drugs safety, multiple scientific studies have found few serious adverse effects beyond headache or cramping.

Federal regulation of the use and distribution of these drugs by agencies including the FDA and the United States Postal Service has long been overshadowed in the abortion debate by the battles over Supreme Court nominations and federal legislation to ban or authorize abortion nationwide. But with a conservative majority now entrenched in the Court, and little chance that Congress will pass national legislation in either direction any time soon, abortion supporters and opponents are focusing more attention on executive-branch actions that influence the availability of the pills.

Read: The abortion backup plan no one is talking about

The reality of abortion care has been changing very, very rapidly, and now the politics are catching up with it, Celinda Lake, a Democratic pollster who served as one of Bidens advisers in 2020, told me.

Tens of thousands of anti-abortion activists will descend on Washington today for their annual March for Lifethe first since the Supreme Court last summer overturned Roe v. Wade, the 1973 decision that established a nationwide right to abortion. The activists will cheer the swift moves by some two dozen Republican-controlled states to ban or severely restrict abortion since the Court struck down Roe.

But even as abortion opponents celebrate, they are growing more frustrated about the increased reliance on the drugs, which are now used in 54 percent of U.S. abortionsup dramatically from less than one-third less than a decade ago, according to the Guttmacher Institute, a research group that supports abortion rights. With the overturning of Roe, [with] COVID, and with President Bidens loosening of the restrictions on these [drugs] there is a new frontier that everyone is pivoting to, Rebecca Parma, the legislative director for Texas Right to Life, a prominent anti-abortion group, told me.

George W. Bush and Donald Trump, the two Republicans who have held the presidency since the drugs were first approved under Democratic President Bill Clinton, in 2000, took virtually no steps to limit their availability. But conservative activists are already signaling that they will press the Republican presidential candidates in 2024 for more forceful action.

Our job is to make sure this becomes an issue that any GOP candidate will have to answer and address, Kristan Hawkins, the president of the anti-abortion group Students for Life of America, told me. No one can be ambivalent again; it will simply not be an option.

The challenge for Republicans is that the 2022 midterm elections sent an unmistakable signal of resistance to further abortion restrictions in almost all of the key swing states that tipped the 2020 presidential election and are likely to decide the 2024 contest. Would you really want to be Ron DeSantis or Donald Trump running in a close election saying, Im going to ban all abortion pills in Michigan or Pennsylvania right now? says Mary Ziegler, a law professor at UC Davis, who has written extensively on the history of the abortion debate.

Sunday is the 50th anniversary of the original Roe decision, and the Biden administration will mark the occasion with a defiant pro-abortion-rights speech from Vice President Kamala Harris in Florida, where GOP Governor DeSantis, a likely 2024 presidential contender, signed a 15-week abortion ban last April.

White House officials see access to abortion medication as the next battlefront in the larger struggle over the procedure, Jennifer Klein, the director of the White House Gender Policy Council, told me. She said she expects Republicans to mount more sweeping efforts to restrict access to the drugs than they did during the Bush or Trump presidencies. The reason youve seen both Democratic and Republican administrations ensure access to medication abortions is because this is the FDA following their evidence-based scientific judgment, she said. So what I think is different now is you are seeing some pretty extreme actions as the next way to double down on taking away reproductive health and reproductive rights.

Federal regulation of the abortion drugs has followed a consistent pattern, with Democratic presidents moving to expand access and Republican presidents mostly accepting those actions.

Read: The other abortion pill

During the 2000 presidential campaign, for instance, George W. Bush called the Clinton administrations initial approval of mifepristone wrong and said he worried it would lead to more abortions. But over Bushs two terms, his three FDA commissioners ignored a citizen petition from conservative groups to revoke approval for the drug. Under Barack Obama, the FDA formalized relatively onerous rules for the use of mifepristone. Physicians had to obtain a special certification to prescribe the drug, women had to meet with their doctor once before receiving it and twice after, and it could be used only within the first seven weeks of pregnancy.

The FDA loosened these restrictions during Obamas final year in office. It reduced the number of physician visits required to obtain the drugs from three to one and increased to 10 the number of weeks into a pregnancy the drugs could be used. The revisions also permitted other medical professionals, such as nurses, to prescribe the drugs if they received certification, and eliminated a requirement for providers to report adverse effects other than death. Trump didnt reverse any of the Obama decisions. He did side with conservatives by fighting a lawsuit from abortion-rights advocates to lift the requirement for an in-person doctors visit to obtain the drugs during the COVID pandemic. But by the time the Supreme Court ruled for the Trump administration in January 2021, Biden was days away from taking office. Within months, women seeking an abortion could consult with a doctor via telehealth and then receive the pills via mail.

On January 3 of this year, the FDA took another major step by allowing pharmacies to dispense the drugs. In late December, the Justice Department issued a legal opinion that the Postal Service could deliver the drugs without violating the 19th-century Comstock Act, which bars use of the mail to corrupt the public morals.

The paradox is that the impact of these rules, for now, will be felt almost entirely in the states where abortion remains legal. Obtaining abortion pills there will be much more comparable to filling any other prescription. But 19 red states have passed laws that still require medical professionals to be present when the drugs are administered, which prevents pharmacies from offering them despite the FDA authorization. And although the FDA has approved use of mifepristone for the first 10 weeks of pregnancy, medical professionals cannot prescribe the drugs in violation of state time limits (or absolute bans) on abortion. In terms of anti-abortion states, the Biden administrations actions have had basically no impact, Greer Donley, a University of Pittsburgh law professor who studies abortion law, told me in an email.

Although the red states have largely walled themselves off from Bidens efforts on medication abortion, conservatives have launched a multifront attempt to roll back access to the pills nationwide. Students for Life has filed another citizen petition with the FDA, arguing that doctors who prescribe the drugs must dispose of any fetal remains as meical waste. In a joint letter released last week, 22 Republican attorneys general hinted that they may sue to overturn the new FDA rules permitting pharmacies to dispense the drugs. In November, another coalition of conservative groups filed a lawsuit before a Trump-appointed judge in Texas seeking to overturn the original certification and ban mifepristone. Jenny Ma, the senior counsel at the Center for Reproductive Rights, says that decision could ultimately have a broader effect than even the Supreme Court ruling overturning Roe: This case, she told me, could effectively ban medication abortion nationwide. It means people in every state may not be able to get abortion pills.

Republicans will also ramp up legislative action against the pills, although their proposals have no chance of becoming law while Democrats control the Senate and Biden holds the veto pen. Republican Senator Cindy Hyde-Smith of Mississippi is planning to reintroduce her SAVE Moms and Babies Act, which would restore the prohibition against dispensing abortion drugs through the mail or at pharmacies.

From the May 2022 issue: The future of abortion in a post-Roe America

However these legal and legislative challenges are resolved, its already apparent that the 2024 GOP presidential field will face more pressure than before to propose executive-branch actions against the drugs. Thats going to be our clarion call in 2024, says Kristi Hamrick, a long-term social-conservative activist, who now serves as the chief strategist for media and policy at Students for Life.

Katie Glenn, the state-policy director at Susan B. Anthony Pro-Life America, told me that, at the least, the group wants 2024 Republican presidential candidates to press for restoring the requirement to report adverse consequences from the drugs. Former Vice President Mike Pence, a likely candidate, has already suggested that he will support a ban on dispensing the pills through the mail. But the anti-abortion movements long-term goal remains the same: ban mifepristone altogether. Hawkins shows the growing fervor GOP candidates will face when she says, This pill is a cancer that has now metastasized throughout our country.

Simultaneously, abortion-rights advocates are pushing the Biden administration to loosen restrictions even further. Medication abortion has been overregulated for far too long, Ma told me. Many advocates want the FDA to extend permitted use of mifepristone from 10 to 12 weeks, eliminate the requirement that the professionals prescribing the drugs receive a special certification, and begin the process toward eventually making the drug available over the counter.

The immediate question is whether the Biden administration will challenge the red-state laws that have stymied its efforts to expand access. Advocates have argued that a legal case can be made for national FDA regulations to trump state restrictions, such as the requirement for physicians to dispense the drugs. But Biden is likely to proceed cautiously.

We dont have a lot of answers because, frankly, states have not tried to do this stuff in hundreds of years, Ziegler, the author of the upcoming book Roe: The History of a National Obsession, told me. Even so, she added, its a reasonable assumption that this conservative-dominated Supreme Court would resist allowing the federal government to preempt state rules on how the drugs are dispensed.

These mirror-image pressures in each party increase the odds of a clear distinction between Biden (or another Democrat) and the 2024 GOP nominee over access to the drugs. Democrats are generally confident they will benefit from almost any contrast that keeps abortion prominent in the 2024 race. Some, like Lake, see access to the pills as a powerful lever to do that. The issue, she argues, is relevant to younger voters, who are much more familiar than older people with the growing use of medication abortion and are especially dubious that pharmacies can offer certain drugs in some states but not in others.

The impact of abortion on the 2022 election was more complex than is often discussed. As Ive written, in the red states that have banned or restricted the practice, such as Florida, Ohio, and Texas, there was no discernible backlash against the Republican governors or state legislators who passed those laws. But the story was different in the blue and purple states where abortion remains legal. In pivotal states including Arizona, Michigan, Pennsylvania, and Wisconsin, a clear majority of voters said they supported abortion rights, and, according to media exit polls, crushing majorities of them voted against Republican gubernatorial candidates who pledged to restrict abortion. Those Democratic victories in the states likely to prove decisive again in 2024 have left many Republican strategists leery of pursuing any further constraints on abortion.

Whats clear now is that even as abortion opponents gather to celebrate their long-sought toppling of Roe, many of them wont be satisfied until they have banned the procedure nationwide. It is totally unacceptable for a presidential candidate to say, Its just up to the states now, Marilyn Musgrave, the vice president for government affairs at the Susan B. Anthony group, told me. We need a federal role clearly laid out by these presidential candidates. Equally clear is that abortion opponents now view federal regulatory actions to restrict, and eventually ban, abortion drugs as a crucial interim step on that path. The U.S. may seem in some ways to be settling into an uneasy new equilibrium, with abortion banned in some states and permitted in others. But, as the escalating battle over abortion medication makes clear, access to abortion in every state will remain on the ballot in 2024.

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SEC crypto trading roundtable to include crypto giants Uniswap, Coinbase

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SEC crypto trading roundtable to include crypto giants Uniswap, Coinbase

SEC crypto trading roundtable to include crypto giants Uniswap, Coinbase

The US Securities and Exchange Commission has released the list of executives from US crypto and finance giants that will take part in a roundtable discussion on crypto trading regulation.

On April 7, the regulator said its upcoming April 11 roundtable will discuss how it should handle crypto trading rules, calling it “Between a Block and a Hard Place: Tailoring Regulation for Crypto Trading.”

It will be the second in a series of discussions on crypto, headed by its recently-formed Crypto Task Force.

Taking part are Uniswap Labs chief legal officer Katherine Minarik, Cumberland DRW associate general counsel Chelsea Pizzola and Coinbase institutional product vice president Gregory Tusar — all firms that had once been in the regulator’s scope.

Under the Biden administration, the regulator sued Cumberland DRW in October and Coinbase in June 2023 for alleged securities law violations, but both lawsuits were dropped this year under the Trump administration.

The SEC also started an investigation for possible enforcement action into Uniswap Labs in April 2024, which was dropped in February with no further action.

Also taking part in the roundtable are New York Stock Exchange product chief Jon Herrick, crypto brokerage FalconX business lead Austin Reid, securities tokenizing firm Texture Capital CEO Richard Johnson and the University of California, Berkeley finance chair Christine Parlour.

SEC crypto trading roundtable to include crypto giants Uniswap, Coinbase

Source: SEC

Dave Lauer, co-founder of the advocacy group We the Investors and Tyler Gellasch, CEO of the not-for-profit Healthy Markets Association, will also take part, while law firm Goodwin Procter partner Nicholas Losurdo will moderate the discussion.

Representing the SEC will be acting chair Mark Uyeda, Crypto Task Force chief of staff Richard Gabbert and Commissioners Caroline Crenshaw and Hester Peirce.

The roundtable is the second crypto-focused discussion in a series of five that the SEC dubbed the “Spring Sprint Toward Crypto Clarity.” The first was on March 21, regarding the legal status of crypto, while three future discussions will cover custody, tokenization, and decentralized finance (DeFi).

SEC’s Uyeda orders review of staff crypto comments

The roundtables come as the SEC, under President Donald Trump, works to revamp its oversight of the crypto industry, with its latest action being to review staff statements on crypto so they can possibly be changed or withdrawn.

Uyeda said in an April 5 statement shared by the SEC on X that due to Trump’s executive order on deregulation and recommendations from the Elon Musk-led Department of Government Efficiency, or DOGE, he was reviewing seven staff statements, five of which concerned crypto.

SEC crypto trading roundtable to include crypto giants Uniswap, Coinbase

Source: SEC

“The purpose of this review is to identify staff statements that should be modified or rescinded consistent with current agency priorities,” Uyeda said.

Related: SEC paints ‘a distorted picture’ of USD stablecoin market — Crenshaw 

The first on the list was an April 2019 analysis from the Strategic Hub for Innovation and Financial Technology on how crypto sales could be investment contracts under the securities defining Howey test — an argument the agency had made to sue multiple crypto firms for legal violations.

Also up for review are two Division of Investment Management statements, one from May 2021 asking investors to consider the risks of funds with exposure to Bitcoin futures and a November 2020 statement asking for feedback on whether state-chartered banks meet standards to be qualified custodians.

The SEC will also look into a December 2022 Division of Corporation Finance statement that urged SEC-regulated companies to evaluate their disclosures to mention if a slew of crypto firm bankruptcies and collapses at the time impacted their business.

Finally, the agency will review a Division of Examinations alert from February 2021 that said, “a number of activities related to the offer, sale and trading of digital assets that are securities present unique risks to investors.” 

Legal Panel: XRP win leaves Ripple a ‘bad actor’ with no crypto legal precedent set 

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Spanish police arrest six over $20M AI-powered investment scam

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Spanish police arrest six over M AI-powered investment scam

Spanish police arrest six over M AI-powered investment scam

Authorities in Spain have arrested six people who helped operate a global AI-powered investment scam that stole over $20 million from at least 208 victims. 

The scammers would swindle victims up to three times. After stealing an initial sum through the investment scam, the fraudsters contacted victims twice more, masquerading as investment managers and then as authorities, offering to recover the stolen funds for a fee, Spanish police said in an April 7 statement. 

The scammers used deepfake ads of “national personalities” promising high returns on crypto investments, and would occasionally pose as financial advisers or even feign romantic interest to lure in victims.  

Experts have been warning of a rise in AI-enhanced scams. Blockchain analytics firm Chainalysis said in its Feb. 13 Crypto Scam Revenue 2024 report that generative AI is making “scams more scalable and affordable for bad actors to conduct.”

“Victims were not selected randomly; instead, algorithms selected those whose profiles matched the cybercriminals’ searches,” Spanish police said.

“Once they selected their victims, they placed advertising campaigns on the websites or social networks they used, offering them cryptocurrency investments with high returns and zero risk of asset loss — investments that, obviously, turned out to be a scam.” 

When victims could not withdraw the funds, most realized it was a scam, according to Spanish police; however, the ruse didn’t end there. 

Scammers would trick victims again with follow-up scams

The cybercriminals would then contact victims again, posing as investment managers, claiming the stolen funds were frozen and could be recovered if they paid a deposit. 

“The victims, hoping to finally recover their money, made the deposit without realizing they had been scammed again,” Spanish police said.

The scammers would then contact victims a third time, this time posing as Europol agents or lawyers from the United Kingdom, offering to return the stolen funds if the victim paid the corresponding taxes in the country where it was blocked.

Related:  Crypto broker breaks ankles while fleeing kidnappers in Spain

Spanish authorities arrested six people involved in the syndicate, charging them with fraud, money laundering and falsifying documents in a criminal organization. 

During a raid on the alleged leader behind the scam, Spanish authorities seized numerous cell phones, computers, hard drives, a simulated weapon and extensive documentation. 

Several people linked to the plot have also been identified in other countries, and the syndicate allegedly created a large number of fake companies to channel the stolen funds.  

“Furthermore, the members of the organization used multiple false identities. In the case of the leader, for example, he used more than 50 different identities,” Spanish police said.

Magazine: Bitcoin heading to $70K soon? Crypto baller funds SpaceX flight: Hodler’s Digest, March 30 – April 5

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World surges past 40% clean power in record renewables boom

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World surges past 40% clean power in record renewables boom

Renewables and nuclear provided 40.9% of the world’s power generation in 2024, passing the 40% mark for the first time since the 1940s, according to a new global energy think tank Ember report. 

Renewables added a record 858 TWh in 2024, 49% more than the previous high in 2022. Solar was the largest contributor for the third year running, adding 474 TWh to reach a share of 6.9%. Solar was the fastest-growing power source (+29%) for the 20th year in a row. 

Solar has doubled in just three years, providing more than 2,000 TWh of electricity in 2024. Wind generation also grew to 8.1% of global electricity, while hydro – the single largest renewable source – remained steady at 14% of global electricity.

“Solar power has become the engine of the global energy transition,” said Phil MacDonald, Ember’s managing director. “Paired with battery storage, solar is set to be an unstoppable force. As the fastest-growing and largest source of new electricity, it is critical in meeting the world’s ever-increasing demand for electricity.”

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Ember’s sixth annual Global Electricity Review, published today, provides the first comprehensive overview of the global power system in 2024 based on country-level data. It’s published alongside the world’s first open dataset on electricity generation in 2024, covering 88 countries that account for 93% of global electricity demand, as well as historical data for 215 countries.

What drove the rising power demand

The analysis finds that fossil fuels also saw a small 1.4% increase in 2024 due to surging electricity demand, pushing global power sector emissions up 1.6% to an all-time high.

Heatwaves were the main driver of the rise in fossil generation, accounting for almost a fifth (+0.7%) of the increase in global electricity demand in 2024 (+4.0%), mainly through additional use of cooling. Without these temperature effects, fossil fuel generation would have risen by only 0.2%, as clean electricity generation met 96% of the demand growth not caused by hotter temperatures.

“Amid the noise, it’s essential to focus on the real signal,” continued MacDonald. “Hotter weather drove the fossil generation increase in 2024, but we’re very unlikely to see a similar jump in 2025.”

Aside from weather effects, the increasing use of electricity for AI, data centers, EVs, and heat pumps is already contributing to global demand growth. Combined, the growing use of these technologies accounted for a 0.7% increase in global electricity demand in 2024, double what they contributed five years ago. 

Clean power will grow faster than demand

Ember’s report shows that clean generation growth is set to outpace faster-rising demand in the coming years, marking the start of a permanent decline in fossil fuel generation. The current expected growth in clean generation would be sufficient to meet a demand increase of 4.1% per year to 2030, which is above expectations for demand growth. 

“The world is watching how technologies like AI and EVs will drive electricity demand,” said MacDonald. “It’s clear that booming solar and wind are comfortably set to deliver, and those expecting fossil fuel generation to keep rising will be disappointed.”

Beyond emerging technologies, the growth trajectories of the world’s largest emerging economies will play a crucial role in defining the global outlook. More than half of the increase in solar generation in 2024 was in China, with its clean generation growth meeting 81% of its demand increase in 2024. India’s solar capacity additions in 2024 doubled compared to 2023. These two countries are at the forefront of the drive to clean power and will help tip the balance toward a decline in fossil generation at a global level.

Professor Xunpeng Shi, president of the International Society for Energy Transition Studies (ISETS), said: “The future of the global power system is being shaped in Asia, with China and India at the heart of the energy transition. Their increasing reliance on renewables to power demand growth marks a shift that will redefine the global power sector and accelerate the decline of fossil fuels.”

Read more: Made-in-America solar just got a big win in Louisiana


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