On December 15th, the Democrats introduced “The Stopping Grinch Bots Act” to combat scalpers who use bots to buy and sell popular items on sites like eBay. The legislation would prohibit bots from buying or selling any item that a human can purchase in order to manipulate supply and demand.
The “grinch bots act 2021” is a bill that was introduced by the Democrats to combat scalpers. The bill would require these companies to make their prices available publicly and not charge more than 10% above the retail price.
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Representative Paul Tonko (D-NY), Senator Richard Blumenthal (D-CT), Senate Majority Leader Charles E. Schumer (D-NY), and Senator Ben Ray Luján (D-NM) have all sponsored new legislation aimed at preventing scalpers from hoarding popular items and reselling them at inflated rates. The bicameral law, dubbed the Stopping Grinch Bots Act, would impose down on bot technology, which often consists of programs that may be used to swiftly and automatically make online transactions. During component shortages, bots have made graphics cards, next-gen consoles, and other popular commodities exceedingly tough to come by.
“At a time when families should be able to spend time with their loved ones,” Tonko added, “digital “Grinch bots” are pushing Americans to explore web sites in the hopes of finding a cheap present or paying outrageous amounts for a single item.”
“This law aims to prevent the avarice of the Cyber Grinch from spoiling children’s Christmas,” Blumenthal stated. “New technologies are required to combat cyber fraudsters who buy up large quantities of popular products and resale them for exorbitant rates. Grinch bots should not be allowed to overcharge for hot toys.”
“When attempting to purchase Christmas gifts, the normal holiday shopper is unable to compete with the light speed of the all-too-common Grinch bot, and is subsequently held at ransom by scalpers and third-party resellers.” “No parent or American should have to spend hundreds – or even thousands – of dollars on Christmas and holiday presents for their children and loved ones after a particularly tough year,” said Majority Leader Schumer. “It’s critical that these Grinch bots’ efforts to steal Christmas – and money – from industrious Americans be prevented.”
“The Christmas rush leaves far too many Americans exposed to Grinch bots’ unscrupulous behaviors, which distort the market and push up prices,” Luján added. “This is a special time to spend with family and friends. Online algorithms that store high-demand toys and items and resale them at big profits should not put Americans in financial distress. This important measure will safeguard New Mexico consumers during the holidays and throughout the year.”
The Stopping Grinch Bots Act was first proposed in November of this year. Consumer Reports, the Consumer Federation of America, the Major Consumer League, and other national consumer groups are all in favour of it.
Paul D. Tonko is the author of this article.
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The “Stopping Grinch Bots Act” is a bill that was introduced by the Democrats to combat scalpers. The bill will make it illegal for bots to snatch toys from children who are waiting in line. Reference: cyber grinches snatching toys should be.
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