How do you regulate something that was designed to be unregulated? The US government intends to find out.

What happened: President Joe Biden signed an executive order yesterday asking the government to devise recommendations for a regulatory framework that would cover cryptocurrency, including:

• Research into creating a digital version of the US dollar.
• Looking into both consumer and investor protections.
• Its role in maintaining US dominance in global finance.
• Examining its future in money and payments systems.
  

Why it matters: In a tacit recognition that the US is striving to better integrate crypto into day-to-day business, markets took the Executive Order as a vote of confidence— Bitcoin jumped 8% in the hours following the announcement.

The order has wide-ranging implications on a global scale, including Canada, which has generally been proactive when it comes to virtual currency.

• Canada was the first country to approve anti-money laundering regulation of virtual currencies and requires individuals and exchanges to report all large crypto transactions.
  
  
• But Canada does not have its own overarching set of regulations and may have to follow suit, given that compliance with potential US regulations will be necessary for crypto businesses to operate across borders, Canada 

Russian roulette: The order comes amid worries that Russia could use crypto to avoid US sanctions, but one White House official has said they do not see crypto as a “viable workaround to the set of financial sanctions”— still, it cannot be discounted as motivation for the US to get regulation in place soon.

Bottom line: Biden’s Executive Order is an admission that crypto is here to stay, but a clear indicator that the US government intends to regulate and control it. 

Match Group-owned Tinder is rolling out background checks through its in-app safety centre—so you can put on your little detective hat and start swiping. 

Catch up: The (groundbreaking, somehow) idea of background checks for strangers you meet up with from the internet follows a 2019 investigative report by ProPublica that highlighted the presence of sex offenders and criminals on Match’s dating apps.

• At launch, Tinder will offer two free background check searches per user (up to 500,000 total for everyone on the app), and charge $2.50 per search afterwards.
  
  
• It’s unclear when (or if) Match Group will roll out the feature to its other dating apps, including Match, Hinge, OkCupid, and Plenty of Fish.

The app will direct users to a site run by background check nonprofit Garbo to fill in basic information about their match to start the process—unfortunately, giant red flags like ‘hates dogs’ or ‘is mean to waiters’ do not show up.

After you’ve reviewed the results, you’re free to choose your own adventure.

• Tinder encourages reporting anyone with a history of violence for removal, since the company will not have access to the background checks, per The Washington Post.
  
  
• The checks do not include arrests related to traffic violations or drug possession, since those disproportionately impact marginalized communities, according to Garbo.

Why it matters: Tinder rival Bumble has yet to roll out background checks but has long enforced a no-tolerance policy for bad behaviour (much to the dismay of those booted off the app), giving the platform a reputation for creating safer spaces for users.

The move also comes at a time of increased focus on consumer protection in tech, amid growing criticism of companies that have profited by putting growth metrics over user safety.

Quote: “People go to TikTok for entertainment but are being served up unclear and even misleading information about the war [in Ukarine].”

Anne Kruger, a Sydney-based director for misinformation-research group First Draft told The Wall Street Journal that the platform’s constant video replays help reinforce certain messages. 

For instance, one video shared footage of military planes flying in formation and claimed to be taken the day of the invasion, but fact-checkers found it was military parade footage.

"De-extinction technology" pioneer Colossal Biosciences (known for its work to bring back the woolly mammoth) raised US$60 million. 

Google buys cybersecurity firm Mandiant for USD$5.4 billion to bolster the search engine’s cloud computing division. 

Proptech company Key raises $11 million to launch an on-demand home-ownership program in US and Canada. 

Software startup Calico raises $2.6 million (partially from Serena Williams’ VC fund) to better help fashion brands improve their supply chain operations. 

Healthtech software Clinia raises $5 million to expand its AI-powered search tools for health space across North America.