Internet Security

Man allegedly beats up bodyguards for fasting

KUALA LUMPUR: A 43-year-old businessman was arrested today for allegedly assaulting and threatening his two bodyguards for fasting.The bodyguards suffered severe bruises and blood clots after being assaulted with canes by their employer and several of his other employees.The victims were also allegedly threatened with a pistol.Dang Wangi police chief ACP Mohamad Zainal Abdullah said…

KUALA LUMPUR: A 43-year-old businessman was arrested today for allegedly assaulting and threatening his two bodyguards for fasting.The bodyguards suffered severe bruises and blood clots after being assaulted with canes by their employer and several of his other employees.The victims were also allegedly threatened with a pistol.Dang Wangi police chief ACP Mohamad Zainal Abdullah said today that the incident occurred on Tuesday at the lobby of the One KL condominium at Jalan Pinang here at about 10pm.He said the suspect had approached both his bodyguards and asked them if they were fasting.Mohamad Zainal said after the victims told the man that they were, the suspect scolded them and hit them on the head.He said the victims were then taken to the suspect’s house in Bandar Bukit Tinggi, Klang.Mohamad Zainal said the suspect and several of his workers then whipped the victim with a rotan, severely injuring them.He said the suspect then snatched a Glock pistol which one of the victims was carrying before pointing it at them.Mohamad Zainal said the suspect allegedly threatened to kill the victims with the handgun.“They were attacked as the suspect did not want them to fast and had forced them to not do so during the Ramadhan month. When the victims refused to comply with the suspect’s orders, the man became upset and attacked them.” he said.Mohamad Zainal said the victims who worked for a security company and were hired and posted as bodyguards for the suspect.He said the victim who lodged a police report had worked with his company for three years while his colleague had served the company for seven years.Mohamad Zainal said the suspect was arrested in Klang at about 8.30pm today and the case is being investigated for causing hurt and criminal intimidation.It is learnt that police are looking for more suspects who are involved in the case.Copies of the victim’s police report also made its rounds in the social media yesterday.In his reports, a victim alleged that during the attack, the suspect had taunted him and his colleague for fasting by criticising and belittling God, asking them if they wanted to “follow him or God”.The victim also alleged that the suspect told them “ he has the IGP (Inspector-General of Police) in his hands” if they planned to lodge a complaint against him.He alleged that he the suspect and several others took turns to assault him at the house.
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Internet Security

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In what appears to be the most significant crypto breach of the year, fresh revelations have emerged shedding light on the extensive infiltration into the digital realm. PeckShield, a reputable blockchain security firm, has disclosed a substantial breach impacting FixedFloat, a prominent platform facilitating cryptocurrency and fiat exchanges…

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Internet Security

Congress seeks clarification from Yellen on crypto oversight plans, criticizes Howey Test

Share this article URL Copied Members of the US Congress have posed a list of questions in a recent letter to Treasury Secretary Janet Yellen in response to her call for enhanced oversight of crypto. Notably, they highlighted the limitations of the Howey Test in protecting consumers in the crypto market. The letter, signed by

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Members of the US Congress have posed a list of questions in a recent letter to Treasury Secretary Janet Yellen in response to her call for enhanced oversight of crypto. Notably, they highlighted the limitations of the Howey Test in protecting consumers in the crypto market.

The letter, signed by House Financial Services Committee Chair Patrick McHenry, House Agriculture Committee Chair Glenn Thompson, Rep. French Hill, and Rep. Dusty Johnson, seeks Yellen’s detailed explanation of how the regulatory framework should be shaped concerning digital assets, following her call earlier today.

Congress has requested clarification on the Securities and Exchange Commission’s (SEC) role. Notably, they have raised concerns about the effectiveness of the Howey Test, which is used to determine the classification of a transaction as an investment contract and, thus, a security. Congress is questioning whether the Howey Test is sufficient for providing adequate consumer protection.

The legislators have argued that the SEC’s retrospective application of the test does little to protect investors, stating:

“Chair Gensler has declared that “the vast majority of crypto tokens likely meet the investment contract test.” However, the final investment contract analysis is backwards looking, made by a court after the transaction in question has been completed. How does this reactive legal authority provide adequate protection for customers, in the absence of comprehensive legislation?”

Congress has also highlighted that the current regulatory framework does not cover a significant portion of the crypto-asset ecosystem, including Bitcoin and Ether. They have asked the Financial Stability Oversight Council (FSOC) whether these cryptocurrencies are considered securities. Led by Yellen, the FSOC brings together key financial regulators to monitor potential risks and safeguard the financial system.

Furthermore, Congressmen have expressed concern about regulatory gaps in spot markets for digital assets that are not considered securities. They are questioning if the Commodity Futures Trading Commission should expand its jurisdiction to include these spot markets, given its existing authority over certain aspects of non-security digital asset transactions. Congress expects to receive answers from Yellen by February 20.

Yellen has been actively advocating for stricter regulations after FTX’s collapse. In a testimony before the House Financial Services Committee on Tuesday, she warned of the risks associated with crypto platforms and stablecoins, urging Congress to enact stricter regulations for the crypto industry.

Share this article

Share this article

Members of the US Congress have posed a list of questions in a recent letter to Treasury Secretary Janet Yellen in response to her call for enhanced oversight of crypto. Notably, they highlighted the limitations of the Howey Test in protecting consumers in the crypto market.

The letter, signed by House Financial Services Committee Chair Patrick McHenry, House Agriculture Committee Chair Glenn Thompson, Rep. French Hill, and Rep. Dusty Johnson, seeks Yellen’s detailed explanation of how the regulatory framework should be shaped concerning digital assets, following her call earlier today.

Congress has requested clarification on the Securities and Exchange Commission’s (SEC) role. Notably, they have raised concerns about the effectiveness of the Howey Test, which is used to determine the classification of a transaction as an investment contract and, thus, a security. Congress is questioning whether the Howey Test is sufficient for providing adequate consumer protection.

The legislators have argued that the SEC’s retrospective application of the test does little to protect investors, stating:

“Chair Gensler has declared that “the vast majority of crypto tokens likely meet the investment contract test.” However, the final investment contract analysis is backwards looking, made by a court after the transaction in question has been completed. How does this reactive legal authority provide adequate protection for customers, in the absence of comprehensive legislation?”

Congress has also highlighted that the current regulatory framework does not cover a significant portion of the crypto-asset ecosystem, including Bitcoin and Ether. They have asked the Financial Stability Oversight Council (FSOC) whether these cryptocurrencies are considered securities. Led by Yellen, the FSOC brings together key financial regulators to monitor potential risks and safeguard the financial system.

Furthermore, Congressmen have expressed concern about regulatory gaps in spot markets for digital assets that are not considered securities. They are questioning if the Commodity Futures Trading Commission should expand its jurisdiction to include these spot markets, given its existing authority over certain aspects of non-security digital asset transactions. Congress expects to receive answers from Yellen by February 20.

Yellen has been actively advocating for stricter regulations after FTX’s collapse. In a testimony before the House Financial Services Committee on Tuesday, she warned of the risks associated with crypto platforms and stablecoins, urging Congress to enact stricter regulations for the crypto industry.

Share this article

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