An anonymous reader quotes a report from Ars Technica: Cryptocurrencies could come under renewed regulatory scrutiny over the next four years if Janet Yellen, Joe Biden's pick to lead the Treasury Department, gets her way. During Yellen's Tuesday confirmation hearing before the Senate Finance Committee, Sen. Maggie Hassan (D-N.H.) asked Yellen about the use of cryptocurrency by terrorists and other criminals. "Cryptocurrencies are a particular concern," Yellen responded. "I think many are used -- at least in a transactions sense -- mainly for illicit financing." She said she wanted to "examine ways in which we can curtail their use and make sure that [money laundering] doesn't occur through those channels."
UPDATE: Yellen's written remarks the next day also suggest America "consider the benefits of cryptocurrencies and other digital assets, and the potential they have to improve the efficiency of the financial system."

But they still also add that "At the same time, we know they can be used to finance terrorism, facilitate money laundering, and support malign activities that threaten U.S. national security interests and the integrity of the U.S. and international financial systems."

hackingbear writes: People's Bank of China, the country's central bank, said on Wednesday that any non-bank payment company with half of the market in online transactions or two entities with a combined two-thirds share could be subject to antitrust probes, potentially dealing another blow to financial technology giant Ant Group Co. and its biggest rival Tencent Holdings Ltd. Ant's Alipay accounts of 55.6% of the Chinese online payment market, while Tencent's WeChat accounts for 38.8%, according to iResearch data.

"If a monopoly is confirmed, the central bank can suggest the cabinet impose restrictive measures including breaking up the entity by its business type," reports Yahoo Finance. "Firms already with payment licenses would have a one-year grace period to comply with the new rules, the PBOC said." Jack Ma, founder of Alibaba and Ant Groups, emerged in public as he spoke to 100 rural teachers through a video call on Wednesday for the first time since China began clamping down on his businesses, ending several months of speculation over his whereabouts. Ma last appeared publicly at a conference where he castigated China's (and that of the world's) financial regulatory systems in front of a room of high-ranked officials. His controversial remark, according to reports, prompted the Chinese regulator to abruptly halt Ant's initial public offering, which would have been the biggest public share sale of all time.

During his first moments in the Oval Office on Wednesday, President Biden returned the United States to the Paris climate accord and directed federal agencies to begin unraveling Donald Trump's environmental policies. The Washington Post reports: Biden's executive order recommitting the United States to the international struggle to slow global warming fulfilled a campaign promise and represented a stark repudiation of the "America First" approach of Trump, who officially withdrew the nation from the Paris agreement Nov. 4 after years of disparaging it. Biden also ordered federal agencies to review scores of climate and environmental policies enacted during the Trump years and, if possible, to quickly reverse them. Nearly half of the regulations the new administration is targeting come from the Environmental Protection Agency, on issues as varied as drinking water, dangerous chemicals and gas-mileage standards.

Biden is expected to take even more sweeping action next Wednesday, according to a document obtained by The Washington Post. He plans to sign an executive order elevating climate in domestic and national security policy; direct "science and evidence based decision-making" in federal agencies; reestablish the Presidential Council of Advisers on Science and Technology and announce that U.S. data that will help underpin the Climate Leadership Summit that Biden will host in Washington in late April. "While many of Biden's actions Wednesday will take effect over time -- the country will again formally become a party to the Paris agreement 30 days from now," the report adds. He's also planning to rescind the presidential permit Trump granted the Keystone XL pipeline to transport crude oil from Canada across the border into the United States, and is instructing the EPA and Transportation Department to strengthen fuel efficiency standards for cars and light trucks, which Trump weakened.

Furthermore, the report says Biden "plans to impose a temporary moratorium on all oil and natural gas leasing activities in the Arctic National Wildlife Refuge, which is home to caribou, polar bears and Indigenous people."

An anonymous reader quotes a report from ZDNet: A suspected Chinese hacking group has been attacking the airline industry for the past few years with the goal of obtaining passenger data in order to track the movement of persons of interest. The intrusions have been linked to a threat actor that the cyber-security has been tracking under the name of Chimera. Believed to be operating in the interests of the Chinese state, the group's activities were first described in a report [PDF] and Black Hat presentation [PDF] from CyCraft in 2020. The initial report mentioned a series of coordinated attacks against the Taiwanese superconductor industry.

But in a new report published last week by NCC Group and its subsidiary Fox-IT, the two companies said the group's intrusions are broader than initially thought, having also targeted the airline industry. These attacks targeted semiconductor and airline companies in different geographical areas, and not just Asia, NCC and Fox-IT said. In the case of some victims, the hackers stayed hidden inside networks for up to three years before being discovered. "The goal of targeting some victims appears to be to obtain Passenger Name Records (PNR)," the two companies said. While the NCC and Fox-IT report didn't speculate why the hackers targeted the airline industry and why they stole passenger data, this is pretty obvious. In fact, it is very common for state-sponsored hacking groups to target airline companies, hotel chains, and telcos to obtain data they could use to track the movements and communications of persons of interest.

Ajit Pai, the man who killed net neutrality, enacted a series of industry-friendly deregulatory moves for big telecom, and drank from a gigantic mug, is no longer around to terrorize the internet. The FCC confirmed to Motherboard that Pai is officially gone: "Federal Communications Commission Chairman Ajit Pai today concluded his four years as Chairman, eight years as a Commissioner, and twelve years as an employee of the agency," the agency said. His official FCC Twitter account, where he antagonized people who criticized him, has been deleted.

On his final night in office, President Trump granted clemency to a total of 143 people, ranging from former adviser Stephen K. Bannon to rapper Lil Wayne. One name in particular that stands out in the tech community is none other than Anthony Levandowski, the former Google engineer that was sentenced to 18 months in prison for stealing trade secrets from Google.

"Levandowski left Google in 2016 to start his own self-driving truck company, which was quickly acquired by Uber for $680 million," reports CNET. "These actions set off a chain of events that led to Google's autonomous vehicle unit, Waymo, suing Uber over alleged theft of self-driving car trade secrets."

Why would this tech executive be pardoned you may ask? The Press Secretary writes: "This pardon is strongly supported by James Ramsey, Peter Thiel, Miles Ehrlich, Amy Craig, Michael Ovitz, Palmer Luckey, Ryan Petersen, Ken Goldberg, Mike Jensen, Nate Schimmel, Trae Stephens, Blake Masters, and James Proud, among others..."