SEC Chair Gary Gensler asserted that the agency "takes its cybersecurity obligations seriously" and that Commission staff recognize that the recent hack of the SEC's "X" account by an unauthorized party raises "concerns about the security of the SEC's social media accounts."
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The House Financial Services Committee Taskforce on Financial Technology considered the implications of central bank digital currencies as they pertain to (i) trade-offs in the design of different technological infrastructures, (ii) consumer privacy and (iii) increased access to financial services.
U.S. Senator Kirsten Gillibrand (D-NY) introduced the "Data Protection Act of 2020." The bill would form a national Data Protection Agency to establish and enforce data privacy and cybersecurity practices.
On December 6, 2019, experts testified before the House Financial Services Committee on the impact of artificial intelligence on investing, the financial services workforce, and compliance and risk management.
In testimony before the House Financial Services Committee, Facebook CEO Mark Zuckerberg defended his company's proposed virtual currency, "Libra."