This week's news cycle saw several major stories capture headlines, including the revelation that Iranian hackers had gained access to a website that published US 2020 election results.
In addition, Securities and Exchange Commission (SEC) Chair Gary Gensler announced that all cryptocurrency exchanges must adhere to SEC regulations, and the Philippine Coast Guard made public evidence of China's aggressive territorial claims in the South China Sea.
Here's a rundown of this week's important stories you should not miss:
US Military: Iran Hackers Access 2020 US Election Results
Iranian hackers gained access to a website that publishes the results of the 2020 US elections, but the Cyber National Mission Force (CNMF) successfully prevented them from defacing the website to raise doubts about the polls, according to the US military. The hacking group, named Pioneer Kitten, was removed from the system before it could disrupt the election results.
Army Maj. Gen. William Hartman, the chief of the CNMF, emphasized that the Iranian hackers' access to the website did not play a role in vote counting during the 2020 elections. Therefore, it posed no risk of manipulating the overall vote count to show a different winner.
Gensler: Crypto Exchanges Must Comply with SEC Standards
In a video posted on Twitter, Gary Gensler, chairman of the US SEC, has urged cryptocurrency exchanges to follow SEC standards.
Gensler said that exchanges should treat cryptocurrencies like securities and adhere to regulations that have been in place for 90 years. He added that the SEC has been active against many crypto-related entities and individuals since the beginning of the year, including Bittrex and Gemini, and that compliance with SEC standards is crucial to safeguarding investor assets.
The SEC chair also said that exchanges, brokers, dealers, and clearinghouses are all types of intermediaries for investment contracts that are required to register and follow SEC Standards on the buying and selling of securities.
Gensler's push for Crypto Exchanges restrictions follows President Joe Biden's executive order on digital assets in March.
Philippine Coast Guard Exposes China's Aggressive Behavior in South China Sea
The Chinese Coast Guard prevented a Philippine patrol ship from accessing a disputed shoal in the South China Sea, part of a weeklong sovereignty patrol aimed at exposing China's fierce operations in the disputed region.
The Philippine Coast Guard invited journalists to join the sea patrol to look for encroachment, illegal fishing, and other dangers. The Chinese ship blocked the Philippine patrol ship and warned it to leave the area, passing within 36 to 46 meters of its bow, which members of the media recorded.
This incident follows the Chinese Coast Guard attack on a 44-meter Philippine Coast Guard vessel in February with the use of a military-grade laser. The Philippine Coast Guard's efforts to draw attention to illegal activity in the West Philippine Sea have been crucial in generating support for the government's stance and increasing public awareness.
Last week marked the end of the annual US-Philippines Balikatan military exercises, which involved over 17,600 military personnel and was the largest exercise to date between the two long-standing treaty partners amid China's continued aggression in the Indo-Pacific region.
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