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House Passes Historic Crypto Bill Regulating Stablecoins

Slashdot.org - Thu, 07/17/2025 - 18:23
The House passed a bipartisan bill regulating stablecoins which now heads to President Trump's desk as part of his push to make the U.S. the "crypto capital of the world." Two other crypto-related bills -- one defining digital asset market structure and another banning a U.S. central bank digital currency -- were also approved by the House but face uncertain futures in the Senate amid partisan tensions and concerns over Trump's personal financial ties to crypto ventures. CNBC reports: The stablecoin bill, passed on a 308-122 vote, sets initial guardrails and consumer protections for the cryptocurrency, which is tied to a stable asset, often the U.S. dollar, to reduce price volatility. It passed the Senate with bipartisan support in June. "Around the world, payment systems are undergoing a revolution," said House Financial Services Chair French Hill of Arkansas as lawmakers debated the stablecoin legislation Thursday morning. Hill said the bill will "ensure American competitiveness and strong guardrails for our consumers." After Trump declared it "crypto week," the bills were stalled for more than a day amid disagreements among House Republicans about how to combine the legislation. In the end, GOP leaders put the three bills for a separate votes, leaving the fate of the other two bills unclear in the Senate. The internal dissent could foreshadow challenges ahead for the more sweeping crypto legislation that Trump has demanded and the industry has poured millions into advancing. The stablecoin measure is seen by lawmakers and the industry as a step toward adding legitimacy and consumer trust to a rapidly growing sector. Treasury Secretary Scott Bessent said in June that the legislation could help that currency "grow into a $3.7 trillion market by the end of the decade." The bill outlines requirements for stablecoin issuers, including compliance with U.S. anti-money laundering and sanctions laws, and mandates that issuers hold reserves backing the cryptocurrency. Without such a framework, Republicans on the Senate Banking Committee in a statement warned, "consumers face risks like unstable reserves or unclear operations from stablecoin issuers." After the votes, House Republicans strongly urged the Senate to take up the second bill, which would create a new market structure for cryptocurrency.

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Google Spots Tailored Backdoor Malware Aimed At SonicWall Appliances

Slashdot.org - Thu, 07/17/2025 - 17:20
An anonymous reader quotes a report from The Record: Threat actors are stealing sensitive data from organizations by breaching end-of-life appliances made by cybersecurity company SonicWall. Incident responders from Google Threat Intelligence Group (GTIG) and Mandiant said on Wednesday that they have uncovered an ongoing campaign by an unidentified threat group that leverages credentials and one-time password (OTP) seeds stolen during previous intrusions -- allowing the hackers to regain access to organizations even after security updates are installed. [...] The campaign is targeting fully patched end-of-life SonicWall Secure Mobile Access (SMA) 100 series appliances. Google explained that the malware the hackers are using removes log entries, making it difficult to figure out how they initially gained access to a system. Google said the campaign extends beyond the incidents they investigated directly and added that SonicWall has "confirmed reports of other impacted organizations." The company noted that SonicWall updated an advisory for a bug tracked as CVE-2024-38475 in light of Google's findings. "As an added security measure, we strongly advise customers to reset the OTP (One-Time Password) binding for all users. This step ensures that any potentially compromised or stale OTP secrets are invalidated, thereby mitigating unauthorized access risks," SonicWall said in the update to the advisory.. One novel aspect of the campaign is the use of a backdoor called OVERSTEP, which modifies the SonicWall appliance's boot process to maintain persistent access, steal sensitive credentials and conceal the malware's own components. Incident responders struggled to track other activities by the hackers because OVERSTEP allowed them to delete logs and largely cover their tracks. OVERSTEP is specifically designed for SonicWall SMA 100 series appliances, according to Google. In addition to CVE-2024-38475, Google and Mandiant experts floated several potential vulnerabilities the hackers may have used to gain initial access, including CVE-2021-20038, CVE-2024-38475, CVE-2021-20035, CVE-2021-20039 and, CVE-2025-32819. Beyond those, Google theorized that the hackers may have used an unknown zero-day vulnerability to deploy the malware on targeted SonicWall SMA appliances.

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New Russian Law Criminalizes Online Searches For Controversial Content

Slashdot.org - Thu, 07/17/2025 - 16:40
Russian lawmakers passed sweeping new legislation allowing authorities to fine individuals simply for searching and accessing content labeled "extremist" via VPNs. The Washington Post reports: Russia defines "extremist materials" as content officially added by a court to a government-maintained registry, a running list of about 5,500 entries, or content produced by "extremist organizations" ranging from "the LGBT movement" to al-Qaeda. The new law also covers materials that promote alleged Nazi ideology or incite extremist actions. Until now, Russian law stopped short of punishing individuals for seeking information online; only creating or sharing such content is prohibited. The new amendments follow remarks by high-ranking officials that censorship is justified in wartime. Adoption of the measures would mark a significant tightening of Russia's already restrictive digital laws. The fine for searching for banned content in Russia would be about a $65, while the penalty for advertising circumvention tools such as VPN services would be steeper -- $2,500 for individuals and up to $12,800 for companies. Previously, the most significant expansion of Russia's restrictions on internet use and freedom of speech occurred shortly after the February 2022 full-scale invasion of Ukraine, when sweeping laws criminalized the spread of "fake news" and "discrediting" the Russian military. The new amendment was introduced Tuesday and attached to a mundane bill on regulating freight companies, according to documents published by Russia's lower house of parliament, the State Duma.

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News Publishers Take Paywall-Blocker 12ft.io Offline

Slashdot.org - Thu, 07/17/2025 - 16:00
The Verge's Emma Roth reports: The News/Media Alliance, a trade association behind major news publishers, announced that it has "successfully secured" the removal of 12ft.io, a website that helped users bypass paywalls online. The trade association says 12ft.io's webhost took down the site on July 14th "following the News/Media Alliance's efforts." 12ft.io -- or 12 Foot Ladder -- also allowed users to view webpages without ads, trackers, or pop-ups by disguising a user's browser as a web crawler, giving them unfettered access to a webpage's contents. Software engineer Thomas Millar says he created the site when he realized "8 of the top 10 links on Google were paywalled" when doing research during the pandemic. [...] In its announcement, News/Media Alliance says 12ft.io "offered illegal circumvention technology" that allowed users to access copyrighted content without paying for it. The organization adds that it will take "similar actions" against other sites that let users get around paywalls. The News Media Alliance recently called Google's AI Mode "theft." (Like many chatbots, Google's AI Mode eliminates the need to visit a website, starving publishers of the pageviews they need to be compensated for their work.) "Publishers commit significant resources to creating the best and most informative content for consumers, and illegal tools like 12ft.io undermine their ability to financially support that work through subscriptions and ad revenue," News/Media Alliance president and CEO Danielle Coffey said in the press release. "Taking down paywall bypassers is an essential part of ensuring we have a healthy and sustainable information ecosystem."

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Meta Investors, Mark Zuckerberg Reach Settlement To End $8 Billion Trial Over Facebook Privacy Litigation

Slashdot.org - Thu, 07/17/2025 - 15:20
An anonymous reader quotes a report from NBC News: Mark Zuckerberg and current and former directors and officers of Meta Platforms agreed on Thursday to settle claims seeking $8 billion for the damage they allegedly caused the company by allowing repeated violations of Facebook users' privacy, a lawyer for the shareholders told a Delaware judge on Thursday. The parties did not disclose details of the settlement and defense lawyers did not address the judge, Kathaleen McCormick of the Delaware Court of Chancery. McCormick adjourned the trial just as it was to enter its second day and she congratulated the parties. The plaintiffs' lawyer, Sam Closic, said the agreement just came together quickly. Billionaire venture capitalist Marc Andreessen, who is a defendant in the trial and a Meta director, was scheduled to testify on Thursday. Shareholders of Meta sued Zuckerberg, Andreessen and other former company officials including former Chief Operating Officer Sheryl Sandberg in hopes of holding them liable for billions of dollars in fines and legal costs the company paid in recent years. The Federal Trade Commission fined Facebook $5 billion in 2019 after finding that it failed to comply with a 2012 agreement with the regulator to protect users' data. The shareholders wanted the 11 defendants to use their personal wealth to reimburse the company. The defendants denied the allegations, which they called "extreme claims." "This settlement may bring relief to the parties involved, but it's a missed opportunity for public accountability," said Jason Kint, the head of Digital Content Next, a trade group for content providers. "Facebook has successfully remade the 'Cambridge Analytica' scandal about a few bad actors rather than an unraveling of its entire business model of surveillance capitalism and the reciprocal, unbridled sharing of personal data. That reckoning is now left unresolved."

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Robinhood CEO Says Majority of Company's New Code Written by AI

Slashdot.org - Thu, 07/17/2025 - 14:25
Robinhood CEO Vlad Tenev has said that the majority of his company's new code is written by AI, with "close to 100%" of engineers using AI code editors. Speaking on the 20VC podcast, Tenev estimated around 50% of new code at the trading platform is AI-generated. Tenev said the 50% figure is imprecise due to advanced "agentic" code editors that have made it difficult to distinguish human-written from AI-generated code. The company has progressed from GitHub Copilot to Cursor and now Windsurf, where "nearly all of the code is written by AI," he said. Tenev estimated only a "minority" of new code at Robinhood is written by humans.

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Mozilla Ships WebGPU in Firefox 141, Catching Up To Chrome's 2023 Launch

Slashdot.org - Thu, 07/17/2025 - 13:45
Mozilla will ship WebGPU support in Firefox 141 when the browser launches July 22, bringing graphics processing capabilities that Chrome users have had since 2023. The initial release supports Windows only, with Mac, Linux, and Android planned for the coming months. WebGPU provides web content direct access to graphics processors for high-performance computation and rendering in games and complex 3D applications. Chrome gained WebGPU support with version 113 in 2023, while Safari 26 is expected to add the feature this fall. Firefox's implementation uses the WGPU Rust crate, which translates web requests into native commands for Direct3D 12, Metal, or Vulkan.

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Britain's Bankrupt Universities Are Hunting For Cheaper Models

Slashdot.org - Thu, 07/17/2025 - 13:08
British universities face mounting financial pressures with four in ten institutions running deficits, according to the Office for Students regulator. Half have closed courses to save money, while Durham and Newcastle each shed 200 staff members. Lancaster's cost-saving plan could eliminate one in five academic positions. The crisis, writes Economist, stems from frozen tuition fees for English students, which will rise by only a few percent in August for the first time in eight years.

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OpenAI Debuts AI Agent That Controls Browsers To Automate Shopping, Presentations

Slashdot.org - Thu, 07/17/2025 - 12:26
OpenAI launched ChatGPT agent Thursday, an AI tool that can complete multi-step tasks including online shopping, creating PowerPoint presentations, and generating spreadsheets. The agent combines capabilities from two existing OpenAI services: Operator, which can browse and interact with websites like a human, and Deep Research, which handles complex online research tasks. The tool runs on a new AI model developed specifically for agent capabilities and can perform tasks such as planning meals and ordering ingredients online, booking restaurant reservations, and creating slide decks based on competitor analysis. In demonstrations, the agent successfully browsed Etsy for vintage lamps under $200 with free shipping and automatically added items to a shopping cart. ChatGPT agent is immediately available to Pro, Plus, and Team subscribers, with Enterprise and Education users gaining access later this summer. The tool requires user permission before making purchases or performing "irreversible" actions like sending emails. The startup, however, has cautioned that the agent "is far from perfect" and can take several minutes to complete tasks.

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'Sony is Still Stubborn About the Size of Its Cameras'

Slashdot.org - Thu, 07/17/2025 - 11:41
Sony removed the tiltable screen from its new RX1R III full-frame compact camera to maintain similar dimensions to the previous model, despite adding numerous new features and charging $5,100 for the device, The Verge reports. The company increased the camera's size by only 2.5mm in height and 15.5mm in depth while incorporating the high-resolution sensor from the A7R V, Sony's latest autofocus tracking system, a longer-lasting battery, and a proper electronic viewfinder. Sony integrated the top dials and hot shoe into the body for a sleeker appearance. The camera's compact design prevents the inclusion of lens or sensor-based image stabilization. The Verge points out that Leica also added a tilt screen to its Q3 model after users requested the feature, despite the design compromise required.

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