India to ban private cryptocurrencies and launch official digital currency

The Indian government is preparing to ban private cryptocurrencies and allow the country’s central bank to launch an official digital currency. The proposed legislation follows a crackdown on cryptocurrencies in China, where financial regulators and the central bank have made all digital currency transactions illegal. The Indian proposals were flagged in a parliamentary bulletin listing upcoming legislation which included one paragraph on “The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021”. The accompanying description of the bill appeared to leave some room for using cryptocurrencies, however. “To create a…

At least 13 phone firms hit by suspected Chinese hackers since 2019, say experts

At least 13 phone companies around the world have been compromised since 2019 by sophisticated hackers who are believed to come from China, a cybersecurity expert group has said. The roaming hackers – known as LightBasin – were able to “search and find” individual mobile phones and “target accordingly”, according to CrowdStrike, a group regularly cited by western intelligence. Hackers were also able to obtain personal subscriber information held by phone companies and metadata showing who made and received calls. “Sophisticated signals intelligence activity” aimed at phone company networks has…