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Iran Is Going Offline To Prevent Purported Israeli Cyberattacks

1 month 3 weeks ago
In response to escalating tensions with Israel, Iran has begun throttling internet access, with plans to disconnect from the global internet entirely to prevent Israeli cyberattacks. The Iranian government also urges citizens to delete WhatsApp -- one of the country's most popular messaging platforms -- claiming without evidence that the Meta-owned app has been weaponed by Israel to spy on its users. (WhatsApp vehemently denied those claims in a statement to the Associated Press.) Telegram is also said to be blocked as well. The Verge reports: The announcements come amidst the escalating war between Iran and Israel, which broke out after Israel attacked the country on June 12th, and a rise in reported internet outages. Civilians have claimed that they've been unable to access basic but critical telecommunications services, such as messaging apps, maps, and sometimes the internet itself. Cloudflare reported that two major Iranian cellular carriers effectively went offline on Tuesday, and The New York Times reports that even VPNs, which Iranians frequently use to access banned sites like Facebook and Instagram, have become increasingly harder to access. [...] Israel's role in the cyber outages has not been officially confirmed, but independent analysts at NetBlocks noticed a significant reduction of internet traffic originating from Iran on Tuesday, starting at 5:30 PM local time. According to Tasnim, a news network affiliated with the Iranian Revolutionary Guards, Iranians will still have access to the country's state-operated national internet service, though two Iranian officials told the Times that the internal bandwidth could be reduced by up to 80 percent.

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Senate Passes Stablecoin Bill In Major Win For Crypto Industry

1 month 3 weeks ago
The U.S. Senate has approved the GENIUS Act with a 68-30 final vote that "saw a huge surge of Democrats joining their Republican counterparts," reports CoinDesk. What the bill sets out to do is create the first federal regulatory framework for U.S. stablecoins, requiring issuers to maintain full 1:1 reserves in cash or Treasuries, adhere to regular audits and anti-money laundering rules, and gain regulatory approval -- all while allowing foreign stablecoin access under strict oversight rules. From the report: As written, the bill would set up guardrails around the approval and supervision of U.S. issuers of stablecoins, the dollar-based tokens such as the ones backed by Circle, Ripple and Tether. Firms making these digital assets available to U.S. users would have to meet stringent reserve demands, transparency requirements, money-laundering compliance and regulatory supervision that's also likely to include new capital rules. "This is a win for the U.S., a win for innovation and a monumental step towards appropriate regulation for digital assets in the United States," said Amanda Tuminelli, executive director and chief legal officer of the DeFi Education Fund, in a similar statement. [...] While this is the first significant crypto bill to clear the Senate, it's also the first time a stablecoin bill has passed either chamber, despite years of negotiation in the House Financial Services Committee that managed to produce other major crypto legislation in the previous congressional session. The destiny of the GENIUS Act is also tied closely to the House's own Digital Asset Market Clarity Act, the more sweeping crypto bill that would establish the legal footing of the wider U.S. crypto markets. The stablecoin effort is slightly ahead of the bigger task of the market structure bill, but the industry and their lawmaker allies argue that they're inextricably connected and need to become law together. So far, the Clarity Act has been cleared by the relevant House committees and awaits floor action.

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Trump Extends TikTok Deadline For Third Time

1 month 3 weeks ago
President Trump will extend the deadline for ByteDance to divest TikTok's U.S. operations by another 90 days, marking the third extension since taking office. The extension aims to prevent a TikTok ban while negotiations with potential buyers like Oracle and Project Liberty continue. CNBC reports: "President Trump will sign an additional Executive Order this week to keep TikTok up and running," White House Press Secretary Karoline Leavitt said in a statement. "As he has said many times, President Trump does not want TikTok to go dark. This extension will last 90 days, which the Administration will spend working to ensure this deal is closed so that the American people can continue to use TikTok with the assurance that their data is safe and secure." ByteDance was nearing the deadline of June 19, to sell TikTok's U.S. operations in order to satisfy a national security law that the Supreme Court upheld just a few days before Trump's second presidential inauguration. Under the law, app store operators like Apple and Google and internet service providers would be penalized for supporting TikTok. ByteDance originally faced a Jan. 19 deadline to comply with the national security law, but Trump signed an executive order when he first took office that pushed the deadline to April 5. Trump extended the deadline for the second time a day before that April mark. Trump told NBC News in May that he would extend the TikTok deadline again if no deal was reached, and he reiterated his plans on Thursday.

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