el88thoms

@el88thoms

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In the Dec. 31 letter to Treasury Secretary Janet Yellen obtained by Law360, Senator Tim Scott, a member of the Senate Banking Committee, and Representative French Hill, the House Financial Services Committee vice chair, asked for a full congressional briefing on the breach by Jan. 10.

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Scott and Hill want the briefing to cover the information accessed by the hackers, specific details on how it occurred and steps the Treasury has taken to ensure that similar incidents don’t happen in the future, adding:

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“As you know, Treasury maintains some of the most highly sensitive information on US persons throughout government, including tax information, business beneficial ownership, and suspicious activity reports,” they said.

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The sectors said this information should be a priority to protect from theft or surveillance by foreign adversaries who might seek to harm the US.

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davisamelia03741

@davisamelia03741

“As such, the fact that a CCP [Chinese Communist Party]-sponsored APT [advanced persistent threat] actor was able to access Treasury’s information systems is unacceptable and raises serious questions about the protocols for safeguarding sensitive federal government information from future cybersecurity incidents,” the lawmakers added.

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@alexanderjones

An unidentified threat actor breached employee workstations at the Treasury on Dec. 2, 2024, gaining access to certain “unclassified” documents.

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Treasury officials told lawmakers in a Dec. 30 letter that the incident has been attributed to a Chinese state-sponsored APT actor.

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The department said it would provide more details in a supplemental report in 30 days, as required under the Federal Information Security Modernization Act.

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@angussmith4367

China has denied responsibility for the attack, telling Reuters it “firmly opposes the US’s smear attacks against China without any factual basis.”

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@austinemma9109

Stuart Hoegner, general counsel of Tether and Bitfinex, has retired from his role as legal chief at the two firms and will be replaced by Michael Hilliard, who has been working alongside Hoegner for several years.

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In a Jan. 2 statement shared with Cointelegraph, Tether wrote that Hoegner had retired and would be replaced as general counsel by Tether’s current legal counsel.

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sophiasmith77609

@sophiasmith77609

“Michael’s deep understanding of both companies’ operations, coupled with his strategic approach to legal and regulatory challenges, has been critical to advancing both Tether and Bitfinex’s mission,” wrote the firm in the statement.

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@charlottedavis

The change in legal leadership for Tether comes amid the implementation of MiCA in Europe, which officially took effect on Dec. 30.

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“No regulators have explicitly stated that USDT isn’t compliant, but this does not mean that it is,” Juan Ignacio Ibañez, a member of the Technical Committee of the MiCA Crypto Alliance, told Cointelegraph in a Dec. 29 report.

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johnsonapollo42

@johnsonapollo42

In October 2024, the European Securities and Markets Authority (ESMA) — a key supervisor of MiCA compliance — declined to tell Cointelegraph whether USDT was seen as a restricted stablecoin under MiCA.

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A spokesperson at ESMA then said that the regulator was working with market participants and other stakeholders to address stablecoin-related issues presented in MiCA.

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While there has been murky guidance on the matter of Tether’s legal status in Europe, US crypto exchange Coinbase delisted USDT in mid-December, citing compliance with MiCA.

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While there has been murky guidance on the matter of Tether’s legal status in Europe, US crypto exchange Coinbase delisted USDT in mid-December, citing compliance with MiCA.

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France’s financial markets regulator, Autorité des Marchés Financiers (AMF), has approved operations of a cryptocurrency business by the French bank BPCE.

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Before Council’s alleged actions, many in the crypto industry had been expecting the SEC to announce a decision on whether US exchanges would be permitted to list spot ETFs tied to Bitcoin. US authorities alleged Council was part of a group that took control of the SEC’s X account through a SIM swap attack, with the post causing the price of BTC to briefly surge by more than $1,000.

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