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Hillicon Valley: Warren asks SEC to take closer look at cryptocurrency exchanges | Maryland town knocked offline as part of massive ransomware attack | Huawei hires three new lobbying firms

Welcome to Hillicon Valley, The Hill’s e-newsletter detailing all that you must know in regards to the tech and cyber information from Capitol Hill to Silicon Valley. For those who don’t already, ensure to join our e-newsletter by clicking HERE. 

Welcome and Completely satisfied Thursday! Observe our cyber reporter, Maggie Miller (@magmill95), and tech workforce, Chris Mills Rodrigo (@millsrodrigo) and Rebecca Klar (@rebeccaklar_), for extra protection. 

Sen. Elizabeth WarrenblankElizabeth WarrenWarren slams Wells Fargo decision to close customer credit lines Schumer warns August recess in danger as infrastructure work piles up The Hill’s Morning Report: Afghanistan’s future now up to Afghans, Biden says MORE (D-Mass.) on Thursday strongly urged a key regulatory company to look into cryptocurrency exchanges, a problem that has gained prominence in recent times and notably following using cryptocurrencies as a part of ransomware assaults. 

In the meantime, a city in Southern Maryland noticed its authorities networks utterly shut down by the ransomware assault on know-how group Kaseya final week, and embattled Chinese language telecommunications group Huawei employed three new lobbying companies to assist do enterprise beneath the Biden administration. 

CRYPTO CONCERNS: Sen. Elizabeth Warren (D-Mass.) is asking the Securities and Trade Fee (SEC) to evaluate the impact of cryptocurrency exchanges on U.S. monetary markets and the dangers they might pose to customers.

In a letter released Thursday, Warren requested SEC Chairman Gary GenslerblankGary GenslerHillicon Valley: Warren asks SEC to take closer look at cryptocurrency exchanges | Maryland town knocked offline as part of massive ransomware attack | Huawei hires three new lobbying firms Warren asks SEC to take closer look at cryptocurrency exchanges California AG wants SEC to ‘use its regulatory authority’ on climate change MORE to elucidate if cryptocurrency exchanges function in a secure and environment friendly manner, and what regulatory motion may be crucial to guard traders.

“Whereas demand for cryptocurrencies and using cryptocurrency exchanges have skyrocketed, the dearth of commonsense rules has left odd traders on the mercy of manipulators and fraudsters,” she mentioned.

Read more about Warren’s request

 

KASEYA FALLOUT CONTINUES: A Maryland city was taken offline final week through the huge ransomware assault on Miami-based know-how agency Kaseya.

The Washington Post reported Thursday that Leonardtown in Southern Maryland fell sufferer to the cyberattack, with city administrator Laschelle McKay first studying of the issue when she logged on Friday.

“Every little thing shut down,” McKay mentioned. “You couldn’t open any doc, you’re utterly locked from all of your information.”

The city’s IT administration firm JustTech is a consumer of Kaseya’s and makes use of merchandise that had been affected by the hack, the Put up reported.

Read more about the incident here.

 

HUAWEI’S HIRES: Embattled Chinese language telecom Huawei just lately employed three new lobbying companies, in line with disclosure stories filed with Congress.

The brand new hires come as President BidenblankJoe BidenCawthorn: Biden door-to-door vaccine strategy could be used to ‘take’ guns, Bibles Trump Jr. calls on Manchin, Tester to oppose Biden’s ATF nominee On The Money: Biden fires head of Social Security Administration | IRS scandals haunt Biden push for more funding MORE retains in place insurance policies enacted by former President TrumpblankDonald TrumpTrump Jr. calls on Manchin, Tester to oppose Biden’s ATF nominee Photos of the Week: Trump, fireworks and Kermit the Frog On The Money: Biden fires head of Social Security Administration | IRS scandals haunt Biden push for more funding MORE which have stifled Huawei’s capability to do enterprise internationally.

“Huawei has engaged with these companies to generate a greater understanding between Huawei and the U.S. authorities,” a supply conversant in the matter instructed The Hill.

Read more here

 

BETTING BIG: Speaker Nancy PelosiblankNancy PelosiPhotos of the Week: Therapy dog, Surfside memorial and Chinese dancers Investigating the Jan. 6 insurrection will resurrect democracy Hillicon Valley: Warren asks SEC to take closer look at cryptocurrency exchanges | Maryland town knocked offline as part of massive ransomware attack | Huawei hires three new lobbying firms MORE’s (D-Calif.) husband gained almost $5 million on a commerce of shares in Google guardian firm Alphabet Inc. and likewise added bets to Amazon and Apple forward of the Home Judiciary Committee’s vote final month to advance a set of antitrust bills focusing on main tech giants. 

In response to a just lately launched financial disclosure report signed by the Democratic chief on July 2, Paul Pelosi, who owns an actual property and enterprise capital funding agency, exercised 40 name choices to achieve 4,000 shares of Alphabet at a strike worth of $1,200. 

Paul Pelosi gained $4.8 million from the commerce, which has since risen to $5.3 million, Bloomberg reported

When reached for touch upon Paul Pelosi’s current monetary strikes, spokesman Drew Hammill instructed The Hill that Nancy Pelosi “has no involvement or prior information of those transactions.” 

Read more here

 

WSJ WEIGHS IN: The editorial board of The Wall Avenue Journal is imploring President Biden to take swift motion and ship a powerful message to Russia and different international adversaries that the U.S. won’t tolerate cyber crime or those that harbor cyber criminals. 

Barack ObamablankBarack Hussein ObamaObama releases 2021 summer reading list, continuing tradition Republicans look to hammer Democrats over gas prices Hillicon Valley: Warren asks SEC to take closer look at cryptocurrency exchanges | Maryland town knocked offline as part of massive ransomware attack | Huawei hires three new lobbying firms MORE’s misadventures in Syria confirmed {that a} President shouldn’t draw pink strains he isn’t keen to implement. President Biden hasn’t been afraid to speak powerful and set expectations with Vladimir PutinblankVladimir Vladimirovich PutinUkraine says Russian-linked hackers attacked its navy’s website Overnight Energy: Newsom asks Californians to cut personal water consumption to fight off drought | John Kerry to visit Moscow officials to discuss ‘global climate ambition’ | EPA bans sale of COVID-19 disinfectant authorized under Trump Hillicon Valley: Biden warns Putin on Russian ransomware attacks | Biden signs sweeping order to boost competition| TikTok updates automated takedown system MORE, however will Mr. Biden implement his personal pink strains?” the Journal wrote in an editorial published Thursday.

“Mr. Putin has spent his time in energy invading neighbors, meddling in Western elections, dishonest on arms-control agreements—and permitting cyber assaults in opposition to the U.S. This regardless of the perfect efforts to enhance relations from George W. Bush, Mr. Obama and Donald Trump. Mr. Biden’s workforce argued that final month’s summit wouldn’t remedy an issue like Mr. Putin however might restrict the injury. The brand new cyberattacks recommend this was mistaken,” the board wrote.

Read more here.

 

CALL FOR MILITARY ACTION: The highest lawyer for U.S. Cyber Command is asking for the US to push again in opposition to transnational prison hackers with navy cyber operations.

Marine Lt. Col. Kurt Sanger, basic counsel on the command, wrote in a current article published to Lawfare.com that ransomware assaults and different threats reminiscent of SolarWinds and Colonial Pipeline hacks spotlight “the broad and extreme impacts criminals can inflict via our on-line world.”

The disruptions brought on by the occasions “have demonstrated that what initially could also be categorized as crime could also be higher considered a nationwide safety risk,” and the US should use its personal cyber power if the threats are to be defeated, Sanger argued.

Read more here

 

EPROCTORING WOES: A coalition of 19 advocacy teams are urging faculty directors to ban using “eproctoring” apps over considerations that the programs are invasive and could be dangerous for college students. 

Software program that makes use of AI-powered programs to watch college students as they take assessments, usually via required webcam recordings and facial recognition know-how, is called eproctoring. 

In an open letter printed Thursday, the teams liken the monitoring software program to “spy ware” and argue it raises important points that perpetuate racism and ableism whereas failing to serve their objective to stop tutorial dishonesty. 

“Additionally they deal with college students as if they’re responsible till confirmed harmless, which is a disrespectful and dangerous stance for any tutorial establishment to take,” the letter reads. 

Read more here

An op-ed to chew on: Self-driving vehicles: A greater challenge than we thought 

Lighter click on: Every single time

 

NOTABLE LINKS FROM AROUND THE WEB: 

We Acquired the Cellphone the FBI Secretly Sold to Criminals (Motherboard / Joseph Cox)

When Amazon Involves City (The Info / Paris Martineau)

The U.S. says people will at all times be in command of AI weapons. However the age of autonomous conflict is already right here. (Washington Put up / Gerrit De Vynck)

https://thehill.com/coverage/know-how/overnights/562170-hillicon-valley-warren-asks-sec-to-take-closer-look-at

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