After finalizing loan terms with the IMF, El Salvador's Legislative Assembly approved changes to the country's Bitcoin Law last week by a 55-2 vote, "effectively removing bitcoin's status as legal currency," reports Reason.

Under the new rules, bitcoin is no longer considered "currency," though it remains "legal tender." Another change makes using bitcoin entirely voluntary. (Previously, the law mandated that businesses accept bitcoin for any goods or services they provided.) Additionally, bitcoin can no longer be used to pay taxes or settle government debts. The government is also stepping back from its involvement in Chivo Wallet, the state-backed digital wallet...

The reforms come as part of a broader financial agreement between Bukele and the International Monetary Fund (IMF). One of the conditions for a proposed $1.4 billion Extended Fund Facility loan was that El Salvador mitigate "potential risks of the Bitcoin project." The IMF has been critical of the country's crypto policies since Bukele made bitcoin legal tender in 2021. "There are large risks associated with using Bitcoin as legal tender, especially given the high volatility of its price. We don't recommend it," the organization said in 2022.

Despite these changes, the administration insists it remains committed to bitcoin. Milena Mayorga, El Salvador's ambassador to the United States, has said that El Salvador is still a "bitcoin country" and will maintain — and even expand — its bitcoin reserves. "You have to adapt to the current situation and this is the decision that was taken in the Assembly, but that does not mean that the country will stop having a bitcoin reserve," she explained.
Government data suggests El Salvador now holds 6,072 Bitcoin worth $586,888.

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"Open source can be something of an illusion," writes TechCrunch. "A lack of real independence can mean a lack of agency for those who would like to properly get involved in a project."

Their article makes the case that the "spirit" of open source means more than a license...

"Android, in a license sense, is perhaps the most well-documented, perfectly open 'thing' that there is," Luis Villa, co-founder and general counsel at Tidelift, said in a panel discussion at the State of Open Con25 in London this week. "All the licenses are exactly as you want them — but good luck getting a patch into that, and good luck figuring out when the next release even is...."

"If you think about the practical accessibility of open source, it goes beyond the license, right?" Peter Zaitsev, founder of open source database services company Percona, said in the panel discussion. "Governance is very important, because if it's a single corporation, they can change a license like 'that.'" These sentiments were echoed in a separate talk by Dotan Horovits, open source evangelist at the Cloud Native Computing Foundation (CNCF), where he mused about open source "turning to the dark side." He noted that in most cases, issues arise when a single-vendor project decides to make changes based on its own business needs among other pressures. "Which begs the question, is vendor-owned open source an oxymoron?" Horovits said. "I've been asking this question for a good few years, and in 2025 this question is more relevant than ever."
The article adds that in 2025, "These debates won't be going anywhere anytime soon, as open source has emerged as a major focal point in the AI realm." And it includes this quote from Tidelift's co-founder.
"I have my quibbles and concerns about the open source AI definition, but it's really clear that what Llama is doing isn't open source," Villa said.

Emily Omier, a consultant for open source businesses and host of the Business of Open Source podcast, added that such attempts to "corrupt" the meaning behind "open source" is testament to its inherent power.

Much of this may be for regulatory reasons, however. The EU AI Act has a special carve-out for "free and open source" AI systems (aside from those deemed to pose an "unacceptable risk"). And Villa says this goes some way toward explaining why a company might want to rewrite the rulebook on what "open source" actually means. "There are plenty of actors right now who, because of the brand equity [of open source] and the regulatory implications, want to change the definition, and that's terrible," Villa said.

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The tech startup "purported to make smart home and business products," writes America's Justice Department — products that were "meant to stop package theft, prevent weather damage to packages, and make it easier for emergency responders and delivery services to find homes and businesses." Royce Newcomb "developed prototypes of his products and received local and national media attention for them. For example, Time Magazine included his eLiT Address Box & Security System, which used mobile networks to pinpoint home and business locations, on its Best Inventions of 2021 list."

But then he told investors he'd also received a grant by the National Science Foundation — one of "several false representations to his investors to deceive and cheat them out of their money... Newcomb used the money to pay for gambling, a Mercedes and Jaguar, and a mansion."
He also used the money to pay for refunds to other investors who wanted out, and to pay for new, unrelated projects without the investors' authorization. During this period, Newcomb also received a fraudulent COVID-19 loan for more than $70,000 from the Small Business Administration and fraudulent loans for more than $190,000 from private lenders. He lied about Strategic Innovations having hundreds of thousands and even millions in revenue to get these loans.
Newcomb was previously convicted federally in 2011 for running a real estate fraud scheme in Sacramento. He was sentenced to more than five years in prison for that offense, and he was on federal supervised release for that offense when he committed the offenses charged in this case... Newcomb faces maximum statutory penalties of 20 years in prison and a $250,000 fine for the wire fraud charge, and 10 years in prison and a $250,000 fine for the money laundering charge...
This effort is part of a California COVID-19 Fraud Enforcement Strike Force operation, one of five interagency COVID-19 fraud strike force teams established by the U.S. Department of Justice.

SFGate writes that "Despite receiving significant funding, his startup, Strategic Innovations, never made a dime or released any products to market, according to legal documents."

The owner of a California tech startup has pleaded guilty to stealing over $4 million from investors, private lenders and the U.S. government in order to live a luxurious lifestyle, the United States Attorney's Office announced Monday... When investors asked about product delays and when they'd be paid back, Newcomb made excuses and provided conflicting info, telling them that there were supply chain issues or software problems, according to the indictment. In reality, federal prosecutors said, he was using the money to travel and continue to make these lavish personal expenses.

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