Google Chrome launched its built-in tracking and ad-curation platform, “Privacy Sandbox,” on Sept. 7 for general availability, according to a company blog post. The platform was originally rolled out to a small percentage of users but is now available to around 97% of users. Google said the remaining 3% will be onboarded over the next few months.
Privacy experts have criticized the new tracking system. But in its announcement, Google defended it, stating that Privacy Sandbox needs to be implemented to eliminate third-party cookies and fingerprinting.
Google is introducing Privacy Sandbox to Chrome users, replacing third-party cookies with more privacy-centric tracking of topics of interest. However, concerns arise about transparency and data collection. Users can control ad topics in Settings. #PrivacySandboxpic.twitter.com/fLzLZO309m
— Realtime Global Data Intelligence Platform (@KIDataApp) September 8, 2023
Over 80% of websites use Google’s Adsense service to generate ads on their pages, according to business analytics platform 6sense. To target ads to readers effectively, Adsense embeds cookies in the user’s browser. These cookies track users’ behavior as they browse from site to site, gathering data that can be used to determine what products they may be interested in buying. Because these cookies are produced by Google rather than the website being visited, they are often called “third-party cookies.”
Some competing ad platforms such as Microsoft Ads also use third-party cookies.
Privacy advocates have criticized the practice of embedding third-party cookies, and some users have sought ways to block them. Apple’s Safari, Mozilla’s Firefox and Brave’s Brave browser have all implemented blocks on third-party cookies by default. Chrome users can also choose to block these cookies through the settings menu.
In a January 2020 blog post, Google argued that browsers should not block third-party cookies by default until an alternative tracking system is created. “Some browsers have reacted to these concerns by blocking third-party cookies,” the post said, “but we believe this has unintended consequences that can negatively impact both users and the web ecosystem.”
According to Google, blocking third-party cookies may lead to “[encouraging] the use of opaque techniques such as fingerprinting (an invasive workaround to replace cookies), which can actually reduce user privacy and control.”
The Sept. 7 announcement echoes these earlier statements, claiming:
“Without viable privacy-preserving alternatives to third-party cookies, such as the Privacy Sandbox, we risk reducing access to information for all users, and incentivizing invasive tactics such as fingerprinting.”
Google Chrome’s new Privacy Sandbox platform allows user data to be tracked within the browser itself. For this reason, Google believes it will enhance privacy, as it will do away with the need for third-party cookies. However, Google also emphasized that it will not start blocking third-party cookies by default until a later date.
The Electronic Frontier Foundation, a digital privacy advocacy group, argued that an earlier version of the Privacy Sandbox did little to enhance privacy, as it continued to track users’ behavior, albeit within the browser instead of through cookies. According to the group, the Privacy Sandbox could be even more invasive than third-party cookies in some respects.
The new Chrome interface reveals that Privacy Sandbox can be turned off through three different settings within the “Ad privacy” menu.
Chrome Ad privacy settings. Source: Chrome browser for Android
Brave browser also implements a platform called “Brave Ads,” which tracks users’ behavior. This feature is turned off by default, and if users choose to opt in, they get paid in Basic Attention Token (BAT) for ads they view.
Panama’s capital city will accept cryptocurrency payments for taxes and municipal fees, including bus tickets and permits, Panama City mayor Mayer Mizrachi announced on April 15, joining a growing list of jurisdictions globally that have voted to accept such payments.
Panama City will begin accepting Bitcoin (BTC), Ether (ETH), Circle’s USDC (USDC), and Tether’s USDt (USDT) stablecoin for payment once the crypto-to-fiat payment rails are established, Mizrachi posted on the X platform.
Mizrachi said previous administrations attempted to push through similar legislation but failed to overcome stipulations requiring the local government to accept funds denominated in US dollars.
In a translated statement, the Panama City mayor said that the local government partnered with a bank that will immediately convert any digital assets received into US dollars, allowing the municipality to accept crypto without introducing new legislation.
Panama City joins a growing list of global jurisdictions on the municipal and state level accepting cryptocurrency payments for taxes, exploring Bitcoin strategic reserves to protect public treasuries from inflation and passing pro-crypto policies to attract investment.
Several municipalities and territories around the globe already accept crypto for tax payments or are exploring various implementations of blockchain technology for government spending.
The US state of Colorado started accepting crypto payments for taxes in September 2022. Much like Panama City said it will do, Colorado immediately converts the crypto to fiat.
In December 2023, the city of Lugano, Switzerland, announced taxes and city fees could be paid in Bitcoin, which was one of the developments that earned it the reputation of being a globally recognized Bitcoin city.
The city council of Vancouver, Canada, passed a motion to become “Bitcoin-friendly city” in December 2024. As part of that motion, the Vancouver local government will explore integrating BTC into the financial system, including tax payments.
North Carolina lawmaker Neal Jackson introduced legislation titled “The North Carolina Digital Asset Freedom Act” on April 10. If passed, the bill will recognize cryptocurrencies as an official form of payment that can be used to pay taxes.
As digital assets gain mainstream adoption, establishing a legal framework for stablecoins is a “good idea,” said US Federal Reserve Chair Jerome Powell.
In an April 16 panel at the Economic Club of Chicago, Powell commented on the evolution of the cryptocurrency industry, which has delivered a consumer use case that “could have wide appeal” following a difficult “wave of failures and frauds,” he said.
Powell delivers remarks at the Economic Club of Chicago. Source: Bloomberg Television
During crypto’s difficult years, which culminated in 2022 and 2023 with several high-profile business failures, the Fed “worked with Congress to try to get a […] legal framework for stablecoins, which would have been a nice place to start,” said Powell. “We were not successful.”
“I think that the climate is changing and you’re moving into more mainstreaming of that whole sector, so Congress is again looking […] at a legal framework for stablecoins,” he said.
“Depending on what’s in it, that’s a good idea. We need that. There isn’t one now,” said Powell.
This isn’t the first time Powell acknowledged the need for stablecoin legislation. In June 2023, the Fed boss told the House Financial Services Committee that stablecoins were “a form of money” that requires “robust” federal oversight.
Washington’s formal embrace of cryptocurrency began earlier this year when Trump established the President’s Council of Advisers on Digital Assets, with Bo Hines as the executive director.
Hines told a digital asset summit in New York last month that a comprehensive stablecoin bill was a top priority for the current administration. After the Senate Banking Committee passed the GENIUS Act, a final stablecoin bill could arrive at the president’s desk “in the next two months,” said Hines.
Bo Hines (right) speaks of “imminent” stablecoin legislation at the Digital Asset Summit on March 18. Source: Cointelegraph
Stablecoins pegged to the US dollar are by far the most popular tokens used for remittances and cryptocurrency trading.
The combined value of all stablecoins is currently $227 billion, according to RWA.xyz. The dollar-pegged USDC (USDC) and USDt (USDT) account for more than 88% of the total market.
An appellate court has granted a joint request from Ripple Labs and the Securities and Exchange Commission (SEC) to pause an appeal in a 2020 SEC case against Ripple amid settlement negotiations.
In an April 16 filing in the US Court of Appeals for the Second Circuit, the court approved a joint SEC-Ripple motion to hold the appeal in abeyance — temporarily pausing the case — for 60 days. As part of the order, the SEC is expected to file a status report by June 15.
April 16 order approving a motion to hold an appeal in abeyance. Source: PACER
The SEC’s case against Ripple and its executives, filed in December 2020, was expected to begin winding down after Ripple CEO Brad Garlinghouse announced on March 19 that the commission would be dropping its appeal against the blockchain firm. A federal court found Ripple liable for $125 million in an August ruling, resulting in both the SEC and blockchain firm filing an appeal and cross-appeal, respectively.
However, once US President Donald Trump took office and leadership of the SEC moved from former chair Gary Gensler to acting chair Mark Uyeda, the commission began dropping multiple enforcement cases against crypto firms in a seeming political shift. Ripple pledged $5 million in XRP to Trump’s inauguration fund, and Garlinghouse and chief legal officer Stuart Alderoty attended events supporting the US president.
Despite support for the end of the case coming from both Ripple and the SEC, the August 2024 judgment and appellate cases leave some legal entanglements. Alderoty said in March that Ripple would drop its cross-appeal with the SEC and receive a roughly $75 million refund from the lower court judgment. It’s unclear what else may result from negotiations over a settlement in appellate court.
New leadership at SEC incoming
Acting chair Uyeda is expected to step down following the US Senate confirming Paul Atkins as SEC chair on April 9.
During his confirmation hearings, lawmakers questioned Atkins about his ties to crypto, which could create conflicts of interest in his role regulating the industry. In financial disclosures, Atkins stated he had millions of dollars in assets through stakes in crypto firms, including Securitize, Pontoro and Patomak.