Crypto Currency

An apathy of cybersecurity concerns

Commentary An apathy of cybersecurity concerns Newsday Monday 15 July 2024 Mark Lyndersay – https://newsday.co.tt/wp-content/uploads/2024/07/BitDepth1467_Narration_15-07-2024-1.m4a FOR JUST over a month, the website of the Guyana Cricket Board has been quite visibly defaced by hackers who demanded US$1,000 in Bitcoin. The defacement took the form of a warning and demand, stating partly, “Your company was hacked


Commentary

An apathy of cybersecurity concerns

Newsday



Mark Lyndersay -
Mark Lyndersay –

https://newsday.co.tt/wp-content/uploads/2024/07/BitDepth1467_Narration_15-07-2024-1.m4a

FOR JUST over a month, the website of the Guyana Cricket Board has been quite visibly defaced by hackers who demanded US$1,000 in Bitcoin.

The defacement took the form of a warning and demand, stating partly, “Your company was hacked due to major security issues and your documents, contracts, work correspondence ended up in our possession, we would love to forget this incident but we cannot, so your business partners should not suffer because of your negligence to security.”

It’s kind of weird when a definitive statement about the importance of cybersecurity comes from the people who broke into your digital house.

I’ve been trying to understand the studious calm that’s followed the TSTT breach. What collective noun to describe an industry-wide gathering of potential victims ardently burrowing for good soil to stick their heads into.

So I’ve decided on apathy, as in an apathy of cybersecurity concerns.

Consider the Blue Waters breach in December 2023, which dropped 10GB of that company’s data on the dark web.

The circle of individuals affected by the public distribution of personally identifiable information in that breach was significantly smaller than hundreds of thousands affected by the TSTT data breach, so there was little cause for public concern.

Almost nobody would have been concerned about Mrs Hadeed’s c

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Japan mulls rule change to let banks hold Bitcoin, crypto for investment

Key Takeaways Japan is considering regulatory changes to allow banks to invest in and hold Bitcoin and other crypto assets. The Financial Services Agency aims to ensure bank stability and investor safety by developing new risk management frameworks for crypto investments. Share this article Japan’s Financial Services Agency (FSA), which oversees and regulates the country’s

Key Takeaways

  • Japan is considering regulatory changes to allow banks to invest in and hold Bitcoin and other crypto assets.
  • The Financial Services Agency aims to ensure bank stability and investor safety by developing new risk management frameworks for crypto investments.

Share this article

Japan’s Financial Services Agency (FSA), which oversees and regulates the country’s financial sector, is considering reforms that would allow banks to acquire and hold digital assets such as Bitcoin for investment purposes, according to a new report from Livedoor.

Talks on possible regulatory revisions are expected to start shortly within the Financial System Council, an advisory body to the Prime Minister, the report states.

The FSA intends to introduce regulations that consider how crypto investments could affect banks’ financial stability. The working group will also discuss risk management systems for digital asset handling to mitigate volatility risks.

Under the current FSA guidelines, which were updated in 2020, banks are not allowed to hold crypto for investment due to concerns over price volatility and potential losses affecting banks’ financial health.

The proposed framework would roll back that restriction with added safeguards, allowing banks to buy and sell digital assets alongside traditional instruments like equities and bonds under strict financial soundness rules.

The regulator is also considering allowing banking groups to register as crypto asset exchange service providers, a status required for offering crypto trading services. The agency believes t

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