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- Senator Sherrod Brown decided to question the CEOs of the biggest tech companies in the world– Google and Apple.
- Senator stated that there are millions of Americans who are using mobile applications for investment purposes and falling prey to various crypto scams.
- Brown clearly mentions that the purpose of this line of questioning is to understand what are the measures the company is taking to prevent these kinds of digital frauds.
The World Wants to Know The Answer
Every other day, we hear news regarding multiple crypto scams occurring through the power of mobile applications. Senator Sherrod Brown had enough of this. He decided to question the CEOs of the biggest tech companies in the world– Google and Apple. Both Tim Cook and Sundar Pichai were questioned by the U.S lawmaker regarding measures against fake crypto apps.
Senator Sherrod Brown stated that there are millions of Americans who are using mobile applications for investment purposes, nowadays crypto. Despite this, a large number of digital assets are unregulated in both Apple App Store as well as Google Play Store. These applications in these applications are scamming hundreds of investors.
Moment When FBI Got Involved
He also mentioned that it’s very important to ensure that proper safeguards are made available. This will help stop all the fraudulent activities. As we know, we live in a world of virality and speed. As soon as the Lawmaker Senator Brown wrote the letters to Google CEO, Sundar Pichai and Tim Cook, Apple CEO, Federal Bureau of Investigation or the FBI stepped in. The Bureau sent out a warning to all the cryptocurrency apps that are allegedly scamming the investors amounting to around 42 million USD.
Senator Sherrod Brown clearly mentions that the purpose of this line of questioning is to understand what are the measures the company is taking to prevent these kinds of digital frauds.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
