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Almost lost in recent hubbub over claims that the SwiftKelce romance is a CIA psyop, the likelihood the leading presidential candidates are mental turnips, and the tussle between the federal government and Texas over border control is the fact that the feds are spying on us and want authorization to continue snooping. Debate last year over renewing Section 702 of the Foreign Intelligence Surveillance Act held Congress and the president to a brief extension before the holidays. That leaves legislators arguing the law’s fate before an April deadline, with none of the controversy over spying and privacy yet settled.

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Δ Brief Extension for a Bad Law

“I…thank the Congress for its extension of title VII of the Foreign Intelligence Surveillance Act,” read a White House statement on President Joe Biden’s December 22 signing of the National Defense Authorization Act. “My Administration looks forward to working with the Congress on the reauthorization of this vital national security authority as soon as possible in the new year. While I am pleased to support the critical objectives of the NDAA, I note that certain provisions of the Act raise concerns.”

“Raise concerns” is putting it mildly. Congress did no more than kick the can on extending sunsetting FISA powers to April 19 because the surveillance authorized by the law is deeply intrusive and worries civil libertarians in the ranks of Democrats and Republicans, in both the legislative and executive branches, and among the public at large. Those “concerns” may, if we’re lucky, torpedo the whole law.

Nominally, Section 702 of the Foreign Intelligence Surveillance Act (FISA) “enables the Intelligence Community (IC) to collect, analyze, and appropriately share foreign intelligence information about national security threats,” according to the Office of the Director of National Intelligence. But, like so many powers government officials find useful, it’s been applied far beyond its original justification over the years, including to the communications of Americans here at home. “Foreign” Intelligence Looks Awfully Domestic

Last April and July, the Republican-controlled House Judiciary Committee held hearings to examine “the FBI’s abuses of its Foreign Intelligence Surveillance Act (FISA) authorities, discuss the FBI’s failures to implement meaningful reforms to prevent its abuses, and address the broad issue of warrantless mass surveillance on American citizens.”

A week after the second hearing, declassified documents offered glimpses of how FISA is misused, including improper FBI surveillance of a U.S. senator, a state lawmaker, and a judge.

“The revelation that 702 is used against ‘foreign governments and related entities’ directly impacts Americans’ privacy, as American journalists, businesspeople, students and others all have legitimate reason to communicate with foreign governments,” Sen. Ron Wyden (DOre.) responded. “The fact they can be swept up in 702 collection further highlights the need for reforms to protect their privacy.”

Then, in September, the U.S. government’s Privacy and Civil Liberties Oversight Board (PCLOB) weighed in with a report raising concerns about the use and abuse of FISA’s Section 702.

“The Board finds that Section 702 poses significant privacy and civil liberties risks, most notably from U.S. person queries and batch queries” in which multiple search terms are run through the system as part of a single action, according to the board’s Report on the Surveillance Program Operated Pursuant to Section 702 of the Foreign Intelligence Surveillance Act. “Section 702’s targeting presents a number of privacy risks and harms by authorizing surveillance of a large number of targets, providing only programmatic review of a surveillance program, allowing extensive incidental collection, and causing inadvertent collection.”

How significant are those risks? The FBI has searched its gathered information millions of times for information on “U.S. persons” including citizens, residents, and businesses. “For example, in the twelve-month period ending November 30, 2021, FBI reported 3,394,053 U.S. person queries consisting of 2,964,643 unique query terms, approximately 1.9 million of which were associated with a single cyber threat,” noted the PCLOB.

While FISA is supposed to be directed at foreign threats and only incidentally implicate Americans, some of the queries found by the report were explicitly domestic in nature, including those “related to instances of civil unrest and protests.” The PCLOB, though divided, called for reforms.

The White House National Security Council promptly rejected suggestions that searches about U.S. persons should require court approval, claiming such a safeguard would be “operationally unworkable.” That just added to concerns. After all, if people repeatedly point out abuses of a foreign intelligence law to conduct domestic snooping, and officials deny that’s a problem worth addressing, then the existence of the law and the powers it authorizes should be reconsidered. Reform or Kill the Law?

“Section 702 is set to expire at the end of 2023. We call on Congress to significantly reform the law, or allow it to sunset,” urged the ACLU.

“Congress must end or radically change the unconstitutional spying program enabled by Section 702 of the Foreign Intelligence Surveillance Act (FISA),” agrees the Electronic Frontier Foundation (EFF).

Promising vehicles for reforming the surveillance law are found in the Government Surveillance Reform Act and the Protect Liberty and End Warrantless Surveillance Act, both of which enjoy bipartisan support in Congress.

“The Government Surveillance Reform Act would prohibit warrantless queries of information collected under Section 702 to find communications or certain information of or about U.S. persons,” explains EFF. The group says the Protect Liberty and End Warrantless Act does much the same as well as “prohibit law enforcement from purchasing Americans’ data that they would otherwise need a warrant to obtain” and it also limits surveillance authority renewal to three years.

“A warrant requirement would amount to a de facto ban, because query applications either would not meet the legal standard to win court approval; or because, when the standard could be met, it would be so only after the expenditure of scarce resources,” objected FBI Director Christopher Wray when he addressed the Senate Intelligence Committee in December.

Wray may not have made quite the point that he intended. A de facto ban on abusive domestic surveillance? That sounds like a good start for reforming a law that’s been put to bad use.

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Pakistan allocates 2,000MW power for Bitcoin mining and AI centers

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Pakistan allocates 2,000MW power for Bitcoin mining and AI centers

Pakistan allocates 2,000MW power for Bitcoin mining and AI centers

Pakistan has allocated 2,000 megawatts of surplus electricity exclusively for Bitcoin mining and artificial intelligence centers.

The move is part of a broader digital transformation plan spearheaded by the Pakistan Crypto Council and backed by the Ministry of Finance, according to a May 25 report by local news outlet 24NewsHD TV Channel.

In the first phase, the government plans to channel excess power into AI infrastructure and crypto mining operations. Finance Minister Muhammad Aurangzeb said the decision is expected to attract billions in foreign investment while generating high-tech employment across the country.

The initiative’s second phase will introduce access to renewable energy for mining operations, aiming to balance growth with environmental responsibility.

Related: Trump-backed World Liberty Financial partners with Pakistan Crypto Council

Pakistan unveils tax incentives to attract investors

Per the report, interest from international Bitcoin (BTC) miners and AI firms has already picked up. Officials confirmed that multiple foreign delegations have visited Pakistan in recent months to explore potential partnerships.

To further incentivize investment, the Ministry of Finance announced a package of tax incentives for AI centers and duty exemptions for Bitcoin miners.

Bilal Bin Saqib, CEO of Pakistan’s Crypto Council, reportedly welcomed the development, calling it a “turning point” for the country’s digital economy.

Saqib claimed that with clear regulations and a transparent framework, Pakistan could emerge as a significant player in the global crypto and AI sectors.

Saqib first proposed using the country’s runoff energy to fuel Bitcoin mining at the Crypto Council’s inaugural meeting on March 21.

The meeting included lawmakers, the Bank of Pakistan’s governor, the chairman of Pakistan’s Securities and Exchange Commission (SECP), and the federal information technology secretary.

Related: Pakistan proposes compliance-based crypto regulatory framework — Report

Pakistan creates Digital Asset Authority

On May 21, Pakistan’s Ministry of Finance endorsed the creation of a dedicated body to regulate blockchain-based financial infrastructure in the country.

The Pakistan Digital Assets Authority (PDAA) will serve as a regulatory body to oversee licensing and regulating exchanges, custodians, wallets, tokenized platforms, stablecoins, and decentralized finance applications.

The PDAA will also be tasked with tokenizing national assets and government debt, facilitating monetization of Pakistan’s surplus electricity through regulated Bitcoin mining, and helping startups build blockchain-based solutions at scale.

Pakistan ranked highly in Chainalysis’ 2024 crypto adoption index, coming in ninth, mainly due to strong retail adoption and transactions at centralized services.

Pakistan allocates 2,000MW power for Bitcoin mining and AI centers
Pakistan ranked highly in Chainalysis’ 2024 crypto adoption index, coming in 9th. Source: Chainalysis

Data from Statista also shows Pakistan’s crypto market is “experiencing rapid growth,” estimating the number of crypto users to amount to over 27 million by 2025, out of a population of 247 million.

Magazine: Bitcoin bears eye $69K, CZ denies WLF ‘fixer’ rumors: Hodler’s Digest, May 18 – 24

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Crypto investor charged with kidnapping, torturing an Italian for passwords

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Crypto investor charged with kidnapping, torturing an Italian for passwords

Crypto investor charged with kidnapping, torturing an Italian for passwords

A Manhattan crypto investor is facing serious charges after allegedly kidnapping and torturing an Italian man in a disturbing bid to extract access to digital assets.

John Woeltz, 37, was arraigned on Saturday in Manhattan criminal court following his arrest on Friday. He stands accused of holding a 28-year-old Italian man captive for weeks inside a luxury townhouse in Soho, reportedly rented for $30,000 per month.

According to police reports cited by The New York Times, the victim arrived in the US on May 6 and was allegedly abducted by Woeltz and an accomplice.

The attackers are said to have stolen the man’s passport and electronic devices before demanding the password to his Bitcoin (BTC) wallet. When he refused, the suspects allegedly subjected him to prolonged physical abuse.

Crypto investor charged with kidnapping, torturing an Italian for passwords
Source: Mario Nawfal

Related: Violent crypto robberies on the rise: Six attacks that targeted investors

Crypto victim beaten, electroshocked

The victim described being beaten, shocked with electricity, assaulted with a firearm and even dangled from the upper floors of the five-story building.

He also told police that Woeltz used a saw to cut his leg and forced him to smoke crack cocaine. Threats were also reportedly made against his family.

Photographic evidence found inside the property, including Polaroids, appears to support claims of sustained abuse. The victim managed to escape on Friday and alert authorities, leading to Woeltz’s arrest.

Woeltz was charged with four felony counts, including kidnapping for ransom, and entered a plea of not guilty. Judge Eric Schumacher ordered him to be held without bail. He is expected back in court on May 28.

A 24-year-old woman was also taken into custody on Friday in connection with the incident. However, she was seen walking freely in New York the next day, and no charges against her were found in the court’s online database.

Authorities have yet to clarify the relationship between the suspect and the victim or whether any cryptocurrency was ultimately stolen.

Related: Crypto crime goes industrial as gangs launch coins, launder billions — UN

Crypto executives turn to bodyguards

Executives and investors in the crypto industry are increasingly seeking personal security services as kidnapping and ransom cases surge, especially in France.

On May 18, Amsterdam-based private firm Infinite Risks International reported a rise in requests for bodyguards and long-term protection contracts from high-profile figures in the space.

French authorities have responded by introducing enhanced protections for crypto entrepreneurs and their families, including security briefings and priority access to police assistance.

This comes amid a recent surge in kidnappings and ransom attempts. David Balland, the co-founder of hardware wallet company Ledger, was kidnapped in January 2025 and held for ransom for several days before being rescued by French police.

In May 2024, the father of an unnamed crypto entrepreneur was freed from a ransom attempt after French law enforcement officials raided the location in a Paris suburb where the individual was being held hostage by organized criminals.

Magazine: Bitcoiner sex trap extortion? BTS firm’s blockchain disaster: Asia Express

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Gail’s backer plots rare move with bid for steak chain Flat Iron

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Gail's backer plots rare move with bid for steak chain Flat Iron

A backer of Gail’s bakeries is in advanced talks to acquire Flat Iron, one of Britain’s fastest-growing steak restaurant chains.

Sky News has learnt that McWin Capital Partners, which specialises in investments across the “food ecosystem”, has teamed up with TriSpan, another private equity investor, to buy a large stake in Flat Iron.

Restaurant industry sources said McWin would probably take the largest economic interest in Flat Iron if the deal completes.

They added that the two buyers were in exclusive discussions, with a deal possible in approximately a month’s time.

The valuation attached to Flat Iron was unclear on Sunday.

Flat Iron launched in 2012 in London’s Shoreditch and now has roughly 20 sites open.

The chain is solidly profitable, with its latest accounts showing underlying profits of £5.7m in the year to the end of August.

It already has private equity backing in the form of Piper, a leading investor in consumer brands, which injected £10m into the business in 2017.

Flat Iron was founded by Charlie Carroll, who retains an interest in it, but the company is now run by former Byron restaurant boss Tom Byng.

Houlihan Lokey, the investment bank, has been advising Flat Iron on the process.

McWin has reportedly been in talks to take full control of Gail’s while TriSpan’s portfolio has included restaurant operators such as the Vietnamese chain Pho and Rosa’s, a Thai food chain.

A spokesman for McWin declined to comment.

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