Senators join chorus of disapproval of ‘backdoor regulation’ in SEC staff acc...
Five Republican senators, including “Crypto Senator” Cynthia Lummis, have sent a letter to the SEC regarding its March bulletin, which established broad new requirements for trading platforms. United States Senator Bill Hagerty has sent a letter, cosigned by four other Republican senators, to Securities and Exchange (SEC) Commission chair Gary Gensler urging the withdrawal of a staff accounting bulletin, referred to as SAB 121, issued by the agency March 31. According to the senators, the bulletin amounts to “regulation disguised as staff guidance” and does not adhere to the Administrative....
Related News
Six U.S. senators have questioned the Securities and Exchange Commission (SEC) why its staff is quitting at a record pace. “Efforts to ram through hurried rulemaking without proper analysis, deliberation or consideration of downstream negative impacts is nothing short of regulatory malpractice,” the lawmakers told SEC Chair Gary Gensler. SEC Staff Leaving at Record Pace Six U.S. senators have reportedly sent a letter to the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, inquiring why the securities watchdog’s employees are quitting at a....
Two U.S. senators are working on a bipartisan, broad-based regulatory framework for cryptocurrency. “The work we’re doing is going to be a very complex and intensive review of the different aspects of this industry,” said one of the senators.
US Senators to Introduce Comprehensive Framework to Regulate Crypto Industry
U.S. Senators Kirsten Gillibrand (D-N.Y.) and Cynthia Lummis (R-Wyo.) are working together on “a broad-based regulatory framework” for how the crypto industry should be regulated, they explained Thursday at a Politico Live....
Major Bitcoin mining hardware producer Bitmain can remotely shut down almost all active Antminer machines. Dubbed the “Antbleed” backdoor, abuse of the vulnerability could probably knock half of all hash power on the Bitcoin network offline. “Even if Bitmain had no bad intent, this is a gaping security hole,” said our source, who discovered the backdoor but asked to remain anonymous. The backdoor code can be seen on Pastebin and on GitHub, and today a website has been put up for Antbleed as well. How It Works. The Antbleed backdoor is “stupid simple,” as our source described it. Whenever....
New code advertised by Bitcoin developers Michael Hearn and Gavin Andresen has proven controversial within the Bitcoin community. Bitcoiners are now distressed over what appears to be a privacy backdoor - or bug - in a new proposed fork. Andresen and Hearn have called the new fork "Bitcoin XT," and designed it to take the place of the existing Bitcoin protocol. The Bitcoin XT project apparently bans Tor nodes. Pseudonymity has been a favorite feature of Bitcoin since its introduction to the world by the unknown programmer, Satoshi Nakamoto. Whether or not Tor nodes being block is a....
PoisonTap, a $5 USB device can create a backdoor entry to any locked computer, allowing hackers to easily get into online Bitcoin wallets. Technology can be used for both good and bad. As cyber researchers and developers continue to develop state of the art security features, the same set of skills can be used to circumvent them as well. Samy Kamkar, a hardware hacker has proven it with his PoisonTap device. The PoisonTap, comprising of a Raspberry Pi Zero microcomputer along with a USB adapter, costing no more than $5 is capable of wreaking havoc. According to reports, the device with....